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The value of artworks: a quantitative analysis of buyer behavior and expert valuation in auctions
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Orientador(es)
Resumo(s)
This study explores the mechanisms of art valuation in auction markets, focusing on buyer
behavior and expert appraisal. Using a hedonic classification framework and machine
learning, artworks are analyzed based on hammer prices relative to pre-sale estimates. Key
drivers, including textual descriptions, technical attributes, and market seasonality, are
identified. The findings highlight the complexities of valuation, the impact of auction
practices, and buyer behavior, providing a quantitative perspective on auction dynamics. This
research enhances understanding of valuation processes and their implications for art markets.
Descrição
Palavras-chave
Art valuation Hedonic classification framework Machine learning for auction prediction Buyer behavior in art markets Auction market dynamics Art as a durable commodity