International Journal of Social Science & Economic Research
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Title:
Analysis of the Factors Impacting the Price of Artworks

Authors:
Adit Javalkar

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Adit Javalkar
DPS International Gurgaon

MLA 8
Javalkar, Adit. "Analysis of the Factors Impacting the Price of Artworks." Int. j. of Social Science and Economic Research, vol. 10, no. 1, Jan. 2025, pp. 433-446, doi.org/10.46609/IJSSER.2025.v10i01.026. Accessed Jan. 2025.
APA 6
Javalkar, A. (2025, January). Analysis of the Factors Impacting the Price of Artworks. Int. j. of Social Science and Economic Research, 10(1), 433-446. Retrieved from https://doi.org/10.46609/IJSSER.2025.v10i01.026
Chicago
Javalkar, Adit. "Analysis of the Factors Impacting the Price of Artworks." Int. j. of Social Science and Economic Research 10, no. 1 (January 2025), 433-446. Accessed January, 2025. https://doi.org/10.46609/IJSSER.2025.v10i01.026.

References

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ABSTRACT:
This study explores the factors influencing the final price and compound annual growth rate (CAGR) of the prices of artworks, focusing on year of creation, surface area, rarity, medium, and location. Using data from 25 artworks, the analysis reveals that older pieces command higher prices, while newer works exhibit faster growth rates. Surface area shows limited impact on price but correlates positively with CAGR of prices. Rarity, though significant, requires detailed analysis of data for precise evaluation. Traditional mediums like oil on canvas maintain high prices, while modern mediums such as acrylics demonstrate strong growth potential. Similarly, historical art hubs like Milan dominate in price, while contemporary centers like New York lead in growth rates. These findings illuminate the complex interplay of historical, aesthetic, and market forces in art valuation, offering insights for collectors and investors navigating the evolving art market.

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