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Art Market
The art market is the marketplace of buyers and sellers trading in commodities, services, and works of art. The art market operates in an economic model that considers more than supply and demand: it is a hybrid type of prediction market where art is bought and sold for values based not only on a work's perceived cultural value, but on both its past monetary value as well as its predicted future value. The market has been described as one where producers don't make work primarily for sale, where buyers often have no idea of the value of what they buy, and where middlemen routinely claim reimbursement for sales of things they have never seen to buyers they have never dealt with.Plattner, StuartA Most Ingenious Paradox: The Market for Contemporary Fine Art ''American Anthropologist'' 100(2):482-493, 1998. Moreover, the market is not transparent; private sales data is not systematically available, and private sales represent about half of market transactions. Economics Unlike the vo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crosby Garrett Helmet On Auction At Christies
Crosby may refer to: Places ;Canada *Crosby, Ontario, part of the township of Rideau Lakes, Ontario *Crosby, Ontario, a neighbourhood in the city of Markham, Ontario ;England *Crosby, Cumbria *Crosby, Lincolnshire *Crosby, Merseyside **Crosby (UK Parliament constituency) *Crosby, North Yorkshire *Crosby Beach, Merseyside *Great Crosby, Merseyside *Little Crosby, Merseyside *Crosby-on-Eden, Cumbria ;Isle of Man *Crosby, Isle of Man ;United States *Crosby, Alabama *Crosby, Minnesota *Crosby, Mississippi *Crosby, North Dakota *Crosby Township, Hamilton County, Ohio *Crosby, Pennsylvania *Crosby, Texas *Crosby County, Texas *Crosby, Washington ;South Africa *Crosby, Gauteng Other uses *Crosby (surname) *USS Crosby (DD-164), USS ''Crosby'' (DD-164), a ''Wickes'' class destroyer *''Crosby'', a fictional location in ''The Railway Series'' See also * Crosbie (other) {{disambiguation, geo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sotheby's
Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and maintains a significant presence in the UK. Sotheby's was established on 11 March 1744 in London by Samuel Baker, a bookseller. In 1767 the firm became Baker & Leigh, after George Leigh became a partner, and was renamed to Leigh and Sotheby in 1778 after Baker's death when Leigh's nephew, John Sotheby, inherited Leigh's share. Other former names include: Leigh, Sotheby and Wilkinson; Sotheby, Wilkinson and Hodge (1864–1924); Sotheby and Company (1924–83); Mssrs Sotheby; Sotheby & Wilkinson; Sotheby Mak van Waay; and Sotheby's & Co. The American holding company was initially incorporated in August 1983 in Michigan as Sotheby's Holdings, Inc. In June 2006, it was reincorporated in the State of Delaware and was renamed Sotheby's. In Ju ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Market Efficiency
There are several concepts of efficiency for a financial market. The most widely discussed is informational or price efficiency, which is a measure of how quickly and completely the price of a single asset reflects available information about the asset's value. Other concepts include functional/operational efficiency, which is inversely related to the costs that investors bear for making transactions, and allocative efficiency, which is a measure of how far a market channels funds from ultimate lenders to ultimate borrowers in such a way that the funds are used in the most productive manner. Market efficiency types Three common types of market efficiency are allocative, operational and informational. However, other kinds of market efficiency are also recognised. James Tobin identified four efficiency types that could be present in a financial market: 1. Information arbitrage efficiency Asset prices fully reflect all of the privately available information (the least demanding r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scarcity
In economics, scarcity "refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good."Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. If the conditions of scarcity didn't exist and an "infinite amount of every good could be produced or human wants fully satisfied ... there would be no economic goods, i.e. goods that are relatively scarce..." Scarcity is the limited availability of a commodity, which may be in demand in the market or by the commons. Scarcity also includes an individual's lack of resources to buy commodities. The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself."Montani G. (1987) Scarcity. In: Palgrave Macmillan (eds) ''The New Palgrave Dictionary of Economics''. Palgrav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Journal Of Cultural Policy
''International Journal of Cultural Policy'' is a peer-reviewed academic journal covering interdisciplinary research on the meaning, function and impact of cultural policies. The journal is published by Routledge and the editor-in-chief An editor-in-chief (EIC), also known as lead editor or chief editor, is a publication's editorial leader who has final responsibility for its operations and policies. The highest-ranking editor of a publication may also be titled editor, managing ... is Oliver Bennett. The International Conference on Cultural Policy Research, a biannual research conference, is organised in association with the ''International Journal of Cultural Policy''. Abstracting and indexing The journal is abstracted and indexed in: References External links * {{Official website, http://www.tandfonline.com/gcul Taylor & Francis academic journals English-language journals Publications established in 1994 Cultural journals 5 times per year journals ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barriers To Entry
In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a fixed cost that must be incurred by a new entrant, regardless of production or sales activities, into a market that incumbents do not have or have not had to incur. Because barriers to entry protect incumbent firms and restrict competition in a market, they can contribute to distortionary prices and are therefore most important when discussing antitrust policy. Barriers to entry often cause or aid the existence of monopolies and oligopolies, or give companies market power. Barriers of entry also have an importance in industries. First of all it is important to identify that some exist naturally, such as brand loyalty. Governments can also create barriers to entry to meet consumer protection laws, protecting the public. In other cases it can also be due to inherent scarcity of public resources needed to enter a market. Definitions Various conflicting definitions of "barrier to entr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blue Chip (stock Market)
A blue chip is stock in a '' stock corporation'' (contrasted with non-stock one) with a national reputation for quality, reliability, and the ability to operate profitably in good and bad times. Origin As befits the sometimes high-risk nature of stock picking, the term "blue chip" derives from the card game poker. The simplest sets of poker chips include white, red, and blue chips, with American tradition dictating that the blues are highest in value. In the United States, blue chips were traditionally used for higher values such that "blue chip" used in noun and adjectival senses are attested since 1873 and 1894, respectively. This established connotation was first extended to the sense of a blue-chip stock in the 1920s. According to Dow Jones company folklore, this sense extension was coined by Oliver Gingold (an early employee of the company that would become Dow Jones) sometime in the 1920s, when Gingold was standing by the stock ticker at the brokerage firm that later be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alpha Consumer
An alpha consumer is someone that plays a key role in connecting with the concept behind a product, then adopting that product, and finally validating it for the rest of society. The term was coined by entertainment economist Michael Wolf in 1999 and published in his book ''The Entertainment Economy''. The example given by Michael Wolf in ''The Entertainment Economy'' was: The first few people to see the next hot movie, the first few people to own a cellular phone, the first few people to wear the new pastels and brights—all achieve a status boost by being in the know, being the one others follow. I call these trendsetters 'alpha consumers'. Theirs is the key role of connecting with the concept behind a product, then adopting that product, and finally validating it for the rest of society. If hits are like explosions, alphas are at the epicenter. They feel the first vibrations of the explosion and transmit them to the rest of the culture. Alphas are not the same for every produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million. Across its social media platforms, it reaches an audience of 35 million, as of 2016. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeff Koons
Jeffrey Lynn Koons (; born January 21, 1955) is an American artist recognized for his work dealing with popular culture and his sculptures depicting everyday objects, including balloon animals produced in stainless steel with mirror- finish surfaces. He lives and works in both New York City and his hometown of York, Pennsylvania. His works have sold for substantial sums, including at least two record auction prices for a work by a living artist: US$58.4 million for '' Balloon Dog (Orange)'' in 2013 and US$91.1 million for ''Rabbit'' in 2019. Critics are sharply divided in their views of Koons. Some view his work as pioneering and of major art-historical importance. Others dismiss his work as kitsch, crass, and based on cynical self-merchandising. Koons has stated that there are no hidden meanings and critiques in his works. Early life Koons was born in York, Pennsylvania, to Henry and Gloria Koons. His fatherWood, Gaby (June 3, 2007)"The wizard of odd" ''The Guardian''. was a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hammer Price
In auctions, the buyer's premium is a charge in addition to the hammer price (i.e. the winning bid announced) of an auction item, or lot. The winning bidder is required to pay both the hammer price and the percentage of that price called for by the buyer's premium. It is charged by the auctioneer in addition to the commission which has always been charged by auction houses to sellers. One hundred per cent of the "buyer's premium" is retained by the auction house and is not shared with the item's seller. Major auction houses have levied the buyer's premium for several decades, particularly in fine art auctions, with percentages in the region of 10–30%. In real estate auctions in many European countries, the buyer's premium, if charged at all, is much less (2–2.5%). More recently in the UK, however, foreclosure properties have been offered without fee to the seller, but with a buyer's premium of 10%. The buyer's premium has been characterized by auction houses as a necessary co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
S&P 500
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of December 31, 2020, more than $5.4 trillion was invested in assets tied to the performance of the index. The S&P 500 index is a free-float weighted/capitalization-weighted index. As of August 31, 2022, the nine largest companies on the list of S&P 500 companies accounted for 27.8% of the market capitalization of the index and were, in order of highest to lowest weighting: Apple, Microsoft, Alphabet (including both class A & C shares), Amazon.com, Tesla, Berkshire Hathaway, UnitedHealth Group, Johnson & Johnson and ExxonMobil. The components that have increased their dividends in 25 consecutive years are known as the S&P 500 Dividend Aristocrats. The index is one of the factors in computation of the Conference Board Leading Economic Index ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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