The use of regression modelling to understand how characteristics of artworks, of artists, and of the circumstances of sale affect the price paid at auction is well-established among cultural economists. Drawing on auction sales data provided by Artprice (accessed on 20 March 2022) I use regression modelling to investigate the determinants of the price paid for artworks by twelve artists at auctions of contemporary art over the period from 1984 to 2019. Each of the artists is modelled separately. For nine of the twelve artists, there was a clear preference among collectors for paintings with specific titles rather than untitled paintings or paintings with generic titles such as ‘abstract’ or ‘composition’. For the other explanatory factors included in the models, my analysis complements and re-contextualizes previous scholarship, showing how collectors’ preferences differed between the contexts examined. Size was a stronger driver of the price paid than in the contexts examined in other studies, and for most artists, collectors were not deterred by the largest artworks. Paintings in oil have continued to appeal to some collectors. Although the number of artists looked at is small, there are some suggestive patterns in how the age of the artist at execution affected the auction price, which might merit further investigation. My models also give some insights into change within the auction market for contemporary art.

中文翻译：

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十二位艺术家作品当代艺术拍卖价格的决定因素

使用回归模型来了解艺术品、艺术家和销售环境的特征如何影响拍卖所支付的价格在文化经济学家中已得到广泛认可。根据 Artprice 提供的拍卖销售数据（2022 年 3 月 20 日访问），我使用回归模型来调查 1984 年至 2019 年期间 12 位艺术家在当代艺术拍卖会上为艺术品支付的价格的决定因素。每位艺术家都是分别建模。对于十二位艺术家中的九位，收藏家明显偏爱具有特定标题的画作，而不是无标题的画作或具有诸如“抽象”或“构图”之类的通用标题的画作。对于模型中包含的其他解释性因素，我的分析补充并重新定位了以前的学术研究，展示了收藏家的偏好在所考察的环境之间是如何不同的。与其他研究中研究的背景相比，尺寸是支付价格的更大推动力，对于大多数艺术家来说，收藏家并没有被最大的艺术品吓倒。油画继续吸引一些收藏家。尽管所关注的艺术家数量很少，但在执行艺术家的年龄如何影响拍卖价格方面存在一些暗示性模式，这可能值得进一步研究。我的模型还对当代艺术拍卖市场的变化提供了一些见解。油画继续吸引一些收藏家。尽管所关注的艺术家数量很少，但在执行艺术家的年龄如何影响拍卖价格方面存在一些暗示性模式，这可能值得进一步研究。我的模型还对当代艺术拍卖市场的变化提供了一些见解。油画继续吸引一些收藏家。尽管所关注的艺术家数量很少，但在执行艺术家的年龄如何影响拍卖价格方面存在一些暗示性模式，这可能值得进一步研究。我的模型还对当代艺术拍卖市场的变化提供了一些见解。