Book review: Exploring quantitative techniques for valuing art
Authors of The Worth of Art maintain that some techniques used to evaluate common stock may be used for art
“SORRY, but we do not have a magical equation for predicting which artists will be hot next year or whether Andy Warhol’s Marilyns will outperform the S&P 500 in the next five years,” write Arturo Cifuentes and Ventura Charlin in The Worth of Art: Financial Tools for the Art Markets.
What, then, can readers hope to accomplish with the financial tools for navigating the art market that the book’s subtitle promises? For a start, objectives that are actually achievable – such as determining how the market arrives at values for different works by a given artist, and estimating returns on the artist’s overall body of work.
There is no more reliable way of predicting the short-term price performance of a painting, the authors maintain, than there is for a common stock.
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