TY - JOUR T1 - The “Right” Price for Art Collectibles:<br/> <em>A Quantile Hedonic Regression Investigation of Picasso Paintings</em> JF - The Journal of Alternative Investments SP - 89 LP - 99 DO - 10.3905/jai.2011.14.2.089 VL - 14 IS - 2 AU - Antonello E. Scorcu AU - Roberto Zanola Y1 - 2011/09/30 UR - https://pm-research.com/content/14/2/89.abstract N2 - Different art objects are likely to be priced by means of different systems of hedonic characteristics; more precisely, different evaluation procedures for high- and low-price items are often postulated. However, the empirical evidence on this point is scant. The purpose of this article is to fill this gap with a quantile hedonic regression approach. Using a dataset of 716 Picasso paintings sold at auction worldwide, the authors highlight the critical role of the price classes in determining the evaluation criteria of art items.TOPICS: Real assets/alternative investments/private equity, statistical methods, performance measurement ER -