JOURNAL ARTICLE

Analysis of Malaysian Art Market Returns: A Hedonic Price Index Method.

  • Published In: Journal of Alternative Investments, 2025, v. 28, n. 2. P. 153 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Shahrin, Aidil Rizal; Krishnan, Karyn Anne 3 of 3

Abstract

This article investigates determinants of price and returns for paintings sold within Malaysia. An annual hedonic price index is constructed from 3,541 paintings sold by three local auction houses over eight years (2010–2017). The results show an arithmetic mean return of −11.42% and a standard deviation of 14.21% within the Malaysian art auction market. The heterogeneous nature of paintings includes the artist's nationality and living status, auction houses, year of sale, size of painting, and medium of painting. The result indicates that the works of deceased artists, being sold at The Edge Auction, larger paintings, and batik have a premium over other attributes. However, the artist's nationality, Malaysian or otherwise, does not influence the price of paintings. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Journal of Alternative Investments. 2025/10, Vol. 28, Issue 2, p153
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • ISSN:1520-3255
  • DOI:10.3905/jai.2025.1.245
  • Accession Number:188764300
  • Copyright Statement:Copyright of Journal of Alternative Investments is the property of With Intelligence Limited and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Looking to go deeper into this topic? Look for more articles on EBSCOhost.