Studies of auction prices for artworks typically relate the conditional moments of a single realised price distribution with either characteristics of the artist, the artwork and the auction or with pre-sale information. Using data from the Australian Art Sales Digest for the one hundred top selling Australian Indigenous artists over the period 1987 to 2014 we look at two alternative ways to understand heterogeneity in auction prices. First, we model the determinants of an index of price heterogeneity at the artist level, and second, we use finite mixture models to model the hammer prices for artworks as a combination of realised price distributions. Our results complement the existing literature by identifying new ways in which factors used in the literature may be related to price heterogeneity.

About the presenter’s visit

Professor Tim Fry will be visiting the School of Economics on 29th August 2019. While here he will be using room 520A Colin Clark Building. If you would like to meet with him or have lunch or dinner with him please contact A/Prof Renuka Mahadevan who will be his host while at The University of Queensland. A/Prof Mahadevan can be contacted on r.mahadevan@uq.edu.au.

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Level 6, Colin Clark Building (#39), UQ St Lucia campus