Fiddling with Value: Violins as an Investment?
15 Pages Posted: 21 Sep 2011
There are 2 versions of this paper
Fiddling with Value: Violins as an Investment?
Fiddling with Value: Violins as an Investment?
Date Written: October 2011
Abstract
This paper measures the returns to investing in violins, using two different datasets. One dataset includes 337 observations on repeat sales of the same violins at auction and at dealer sales starting in the mid‐nineteenth century, and another dataset includes over 2,500 observations on sales of individual violins at auction since 198'3 Overall, real returns for the dataset on repeat sales for the period 1850–2008 have been approximately 3.5%. Real returns to the overall portfolio of individual sales since 1980 have been about 3.3%. The price path has been stable with a slight negative correlation to stocks and bonds.
JEL Classification: D44, G11, L82
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Art as an Investment and the Underperformance of Masterpieces
By Jianping Mei and Michael Moses
-
Art as an Investment and the Underperformance of Masterpieces
By Jiangping Mei and Michael Moses
-
How Did Japanese Investments Influence International Art Prices?
By Takato Hiraki, Akitoshi Ito, ...
-
Asset Pricing Theory and the Valuation of Canadian Paintings
By Douglas J. Hodgson and Keith Vorkink
-
The Careers of Modern Artists: Evidence from Auctions of Contemporary Paintings
-
Testing for Reference Dependence: An Application to the Art Market
By Alan Beggs and Kathryn Graddy
-
The Collateral Value of Fine Art
By Rex Thompson and Clare Mcandrew
-
The Auction Market for Modern Prints: Confirmations, Contradictions, and New Puzzles