%0 Journal Article %A Antonello E. Scorcu %A Roberto Zanola %T The “Right” Price for Art Collectibles:
A Quantile Hedonic Regression Investigation of Picasso Paintings %D 2011 %R 10.3905/jai.2011.14.2.089 %J The Journal of Alternative Investments %P 89-99 %V 14 %N 2 %X 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 %U https://jai.pm-research.com/content/iijaltinv/14/2/89.full.pdf