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Valuation of History: An Econometric Analysis of Ancient Art Prices

by Franks, Amanda Noelle

Abstract

In 2018, global sales in the art market increased 6% compared to 2017 (McAndrew, 2019). Without oversight, this art market leaves room for price corruption and unethical transactions. Antiquities and ancient art are then cultural property increasingly vulnerable to illicit trade. While cultural economics seeks to integrate art into working economic theory, little can be said of the price valuation for antiquities. What determines the price of ancient art and antiquities? Valuation of ancient art may be expressed intrinsically based on qualities commonly discussed by art professionals. Econometric methods are used to test the extent of the influence of origin, provenance, material, and literature on price. Empirical results examined present 87% of price variation by these qualities.

Note

The author has given permission for this work to be deposited in the Digital Archive of Colorado College.

Colorado College Honor Code upheld.

Includes bibliographical references.

Administrative Notes

The author has given permission for this work to be deposited in the Digital Archive of Colorado College.

Colorado College Honor Code upheld.

Copyright
Copyright restrictions apply.
Publisher
Colorado College Tutt Library
PID
coccc:31039
Digital Origin
born digital
Extent
54 pages : illustrations
Thesis
Senior Thesis -- Colorado College
Thesis Advisor
Mark Smith
Department/Program
Economics and Business
Degree Name
Bachelor of Arts
Degree Type
bachelor
Degree Grantor
Colorado College Tutt Library
Date Issued
2019-05