A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success

A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success

This paper examines the relationship between auction outcomes and pre-sale estimates. Using data from Blouin Arts Sales Index this paper examines 700 realized prices for Picasso works over the last five months of 2015. After considering many estimation inadequacies, it is determined that experts are...

Full description

Bibliographic Details
Main Author: Fusco, Chelsea Sloan
Format: Others
Published: Scholarship @ Claremont 2016
Subjects:
Arts Management
Online Access:http://scholarship.claremont.edu/scripps_theses/791
http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1765&context=scripps_theses
id ndltd-CLAREMONT-oai-scholarship.claremont.edu-scripps_theses-1765
record_format oai_dc
spelling ndltd-CLAREMONT-oai-scholarship.claremont.edu-scripps_theses-17652016-01-12T03:25:22Z A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success Fusco, Chelsea Sloan This paper examines the relationship between auction outcomes and pre-sale estimates. Using data from Blouin Arts Sales Index this paper examines 700 realized prices for Picasso works over the last five months of 2015. After considering many estimation inadequacies, it is determined that experts are publishing accurate and unbiased pre-sale valuations. For works unsold, the revenue lost to “buy ins” is offset by the excess revenue earned from current estimate publishing strategies. 2016-01-01T08:00:00Z text application/pdf http://scholarship.claremont.edu/scripps_theses/791 http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1765&context=scripps_theses © 2015 Chelsea Sloan Fusco default Scripps Senior Theses Scholarship @ Claremont Arts Management
collection NDLTD
format Others
sources NDLTD
topic Arts Management
spellingShingle Arts Management
Fusco, Chelsea Sloan
A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success
description This paper examines the relationship between auction outcomes and pre-sale estimates. Using data from Blouin Arts Sales Index this paper examines 700 realized prices for Picasso works over the last five months of 2015. After considering many estimation inadequacies, it is determined that experts are publishing accurate and unbiased pre-sale valuations. For works unsold, the revenue lost to “buy ins” is offset by the excess revenue earned from current estimate publishing strategies.
author Fusco, Chelsea Sloan
author_facet Fusco, Chelsea Sloan
author_sort Fusco, Chelsea Sloan
title A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success
title_short A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success
title_full A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success
title_fullStr A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success
title_full_unstemmed A Game Theoretic Explanation of Art Auction Experts’ Pre-Sale Estimates: How Estimates Alter Auction Success
title_sort game theoretic explanation of art auction experts’ pre-sale estimates: how estimates alter auction success
publisher Scholarship @ Claremont
publishDate 2016
url http://scholarship.claremont.edu/scripps_theses/791
http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1765&context=scripps_theses
work_keys_str_mv AT fuscochelseasloan agametheoreticexplanationofartauctionexpertspresaleestimateshowestimatesalterauctionsuccess
AT fuscochelseasloan gametheoreticexplanationofartauctionexpertspresaleestimateshowestimatesalterauctionsuccess
_version_ 1718160340749910016

Similar Items