January 1, 2025SAGE OpenOpen Access

Brushstrokes and Billions: Unveiling the Evolving Landscape of China’s Art Auction Market, 2012 to 2019

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Quantile hedonic regression analyzes artwork valuation in China's auction market, indicating market maturation and price segmentation.

Significant heterogeneity in artwork attributes' implicit prices was found across different price segments, impacting valuations.
Quantile hedonic regression analysis of 47,540 artworks revealed downward price trends, especially in premium segments after 2012.
A convergence phenomenon in price indices across market segments signals potential maturation of the art auction market in China.
The study's findings contribute to theoretical frameworks of art valuation while providing insights into navigating the auction market.

Chang et al. (2025) studied this question.

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