Re:Can I Use Data to Beat Christie's Auction Estimates?
by mholzap on Monday August 07, 2017 @09:46AM
(#14947370)
This is awesome - really eye opening. This seems like a good proof point of the inefficiency of the art market (partially due to lots of missing data, partially due to the relatively small sample size of high-end art sales). Excited to see where this goes, and how it impacts the efficiency of the market.
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Re:Can I Use Data to Beat Christie's Auction Estimates?
by garethsprice on Monday August 07, 2017 @11:37AM
(#14948277)
Part of the art market's appeal is it's opacity, though - there's plenty of manipulation that would be outright illegal in regulated markets, and plenty of dirty money being washed through it - all contributing to the exploding valuations for fine art in recent decades. I wonder how much transparency and efficiency the art world actually wants, and what is the optimal amount to maximize art valuations.