The Empirical Research On The Influence Factors Of Shoushan Stone Auction Price

In recent years,with the growing of art investment,the study of art finance has also been more important.Shoushan stone,as one of the national stone,produced in fujian fuzhou shou village,because it has been banned from mining,it’s investment value becomes Increasingly remarkable.But so far,the lack of domestic related research about Shoushan stone works of art,especially blank for the quantitative study of domestic Shoushan stone art market,to some extent hindered the healthy development of Shoushan stone market.Therefore,this paper is to do quantitative study on the both internal and external factors affecting the shoushan stone auction price,to have a certain reference value for the healthy development of shoushan stone auction market.this paper with the goal to study the factors that influence the auction price of Shoushan stone by drawing on research methods painting and other works of art at home and abroad,propose the use of hedonic price model(Hedonic model)to study the factors of Shoushan stone art price research.Firstly,we analyze the characteristics of the work of art itself theoretically,to drawn characteristic variables of Shoushan stone art.Secondly,the characteristics of the variables are divided into three levels,work level、the artist level and macroeconomic level,each level composes of a plurality details variable,and we transform some qualitative factors into quantitative indicators.Finally we do empirical analysis on the factors of Shoushan stone’s auction price based on Hedonic price model,by adding the characteristics of each level variable to research the price effects of different properties of shoushan stone.In this paper,the empirical analysis of the basic consistent with market expectations.For example,Shoushan stone with different performance themes and auction season affected less on the price.Different artists of shoushan stone carving style have significantly different price level.The price of Tianhuang stone got higher than other material price with a significant premium,and when increasing the weight of Tianhuang stone,Tianhuang stone’s price has obvious positive effect.macroeconomic level of per capita GDP and the rate of M2 and inflation have a significant positive effect on shoushan stone price.But at the same time,we also get some different with the expected conclusion.For example,the price of auctioned in Beijing to Bid in Fuzhou and Hangzhou area got a premium,the death of artists and living artists have small price difference,mainly because of the artist’s artistic level has more significant effect.The empirical analysis results show that:characteristic variables of the artists and the work level have more significant impacts to Shoushan stone’s auction price,Shoushan stone materialand the auction area,reputation and artists carving style,the macroeconomical impacts are important influence factors of Shoushan stone’s auction price.