Black notes and white noise: a hedonic approach to auction prices of classical music manuscripts

Basit Öğe Kaydı
dc.authoridSECKIN, ZENNUBE AYLIN/0000-0003-4139-2728
dc.contributor.authorGeorges, Patrick
dc.contributor.authorSeckin, Aylin
dc.date.accessioned2024-07-18T20:42:13Z
dc.date.available2024-07-18T20:42:13Z
dc.date.issued2013
dc.departmentİstanbul Bilgi Üniversitesien_US
dc.description.abstractThe literature on art auctions has overlooked the market for classical music manuscripts, and this paper explores, for the first time, the determinants of 'hammer' prices for about 360 classical music manuscripts auctioned at Sotheby's (London) during the 1998-2009 period. We use hedonic price regressions in order to explain the price of classical music manuscripts by several characteristics. The paper shows that the 'trace' of the composer (e.g. whether the manuscript is fully or partly in the hand of the composer or in a scribal hand), the artistic value of the composition, the number of pages, the period (Baroque, Classical, etc.), and of course the name of the composer and the relative scarcity of his manuscripts, are all characteristics that contribute to explain the hammer price of these manuscripts. However, parameter estimates for characteristics such as the type of music (symphony, opera, etc.) and whether the manuscript is the complete work or some fragment (say, one movement) are not statistically significant. The paper also estimates a hedonic price index that provides a measure of the average returns and (high) risk of collecting and investing in music manuscripts.en_US
dc.identifier.doi10.1007/s10824-012-9171-9
dc.identifier.endpage60en_US
dc.identifier.issn0885-2545
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-84873715976en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage33en_US
dc.identifier.urihttps://doi.org/10.1007/s10824-012-9171-9
dc.identifier.urihttps://hdl.handle.net/11411/7178
dc.identifier.volume37en_US
dc.identifier.wosWOS:000314714600003en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherSpringeren_US
dc.relation.ispartofJournal of Cultural Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectArt Auctionsen_US
dc.subjectClassical Music Manuscriptsen_US
dc.subjectHedonic Price Regressionen_US
dc.subjectEconomics Of Classical Musicen_US
dc.subjectArt Auctionsen_US
dc.subjectInvestmenten_US
dc.subjectPaintingsen_US
dc.subjectMarketen_US
dc.subjectReturnen_US
dc.subjectWorken_US
dc.subjectWineen_US
dc.titleBlack notes and white noise: a hedonic approach to auction prices of classical music manuscriptsen_US
dc.typeArticleen_US

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