Category Archives: Prices

Value and art, SK style

I participated in a panel earlier this week at Columbia called ‘Unraveling the Art Market’.

Ban oil speculation?

A proposal that comes around from time to time has re-emerged in light of the skyrocketing prices of oil in the global markets. As oil pushes towards $100/barrel, the petroleum secretary of India has proposed abolishing the trading of oil in commodity markets.

Art market craziness

As my friend Chuck says, even the crappy Picasso’s are bringing in $30 million. What in the world is going on? The all-art index is up 21% in the first half of 2007, compared to 14% for the S&P500. The November ArtNews reports that Sotheby’s and Christie’s are offering upwards of $1 billion in guarantees this year. Sotheby’s and Christie’s sold $7.5 billion in art in 2006, and more this year. Add Phillips de Pury & Co. (which emphasizes contemporary, where the action is), and it’s surreal.

prices and baselines, part 2

In an earlier attempt to think through pricing, I was trying to understand the importance of public, baseline prices from which traders, investors, potential buyers and sellers could determine commodity prices. This leads me to discussions of ‘dark pools’ of liquidity..

Why exchanges shift from open outcry to electronic trading

An article in the NYT on the shift away from open outcry today, which gets it right and gets it wrong. The right part is that the shift and merger of the CME and CBOT onto a single floor located at the CBOT spells the end for open outcry. It’s a natural transition point, and […]

Radiohead as Rorschach test

It seems that Radiohead’s experiment into paying what you what for a digital download of their new album Rainbows. For anti-DRM activists, it’s the end of music labels. For skeptics, it’s just a demo teaser marketing scam designed to get you to buy their ‘real’ CD for more money. For market-is-everything economists, it’s an exercise […]