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Business Interrupted : Covid-19 And Its Impact On Auction Houses, Carolina Sagardoy
Business Interrupted : Covid-19 And Its Impact On Auction Houses, Carolina Sagardoy
MA Theses
This study aims to thoroughly analyse how auction houses are coping with the conditions imposed by the Coronavirus pandemic in the short-term and what the virus’ long-term impact on the business will be. The study will look at upcoming marketing campaigns and the quick migration to online sales, and will analyse the data within those sales. The study is unique in its aim to also analyse buyer and seller psychological behaviours and how they will be impacted as a result of forced or voluntary distancing when live sales return. Overall, the thesis aims to address the question: Can the auction …
Re-Thinking Risk Management Of Auction House Guarantees And Third-Party Irrevocable Bids, Nathan Krasnick
Re-Thinking Risk Management Of Auction House Guarantees And Third-Party Irrevocable Bids, Nathan Krasnick
MA Theses
This paper addresses the question of how deviations between expected and actual art auction results impact the auction guarantees made within an artist’s market and among multiple artists, and whether those impacts can be identified and quantified. To do so, I use a theoretical pricing model based on datasets of historical auction records going back to the earliest available date for a specific artist but no further than 2010. I find that, in comparing the model’s expected and actual results to empirical price deviations at auction, we can identify and quantify the impact of those deviations on guarantees.