Auction trade in cultural values
DOI:
https://doi.org/10.31617/2.2022(44)04Keywords:
commodity assessment, market, cost forecasting, protocol, evaluation criteriaAbstract
Introduction. It is well known that the price at which cultural values are sold depends on a combination of factors related to the conditions and organization of the bidding process. In most cases, the cost of cultural values is transcendental in relation to the value of the materials from which they were created, so the cost prediction is based on a complex of "relational properties".
Problem. The necessity for further automation of the processing of initial information about the state of cultural property markets, which is important for obtaining a reliable expert assessment.
Methods. To analyze the market of cultural values, the author’s method of collecting and processing auction and exchange information was used, where the subject of study was the initial and final indicators of value.
Results. The results of empirical observations of the peculiarities and strategies of the work of a number of auctions and exchanges are summarized, which made it possible to distinguish three main stages of the formation of value indicators of cultural values. The first stage is characterized by the fact that the product becomes especially attractive to the buyer due to relatively low-price indicators – speculative indicators (the stage of speculative trade), which allow it to be resold quickly and profitably. The second stage of the formation of value indicators corresponds to the qualitative characteristics inherent in the object of sale; there is a high autocorrelation between the quality indicators of the product and its value recorded in the trading process. Quality indicators at this stage play the role of the main motivations for the formation of the final price indicator. The third stage descrybes the situation of hyped demand, which occurs at the final stage of bidding, when all arguments regarding the qualitative characteristics of cultural values have already been exhausted and the further increase in value depends only on the emotional state and financial capabilities of potential buyers.
Conclusions. Changes in the cost indicators for cultural values during the bidding period take place in three stages – speculative, argumenttative and emotional, each of which is caused by fundamentally different motives of sellers and potential buyers and is also the result of their interaction.
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