CULTURAL PROPERTY MARKETS: A COMPARATIVE ANALYSIS

Abstract

Today, a growing interest in qualitative methods and valuation of cultural values. It is associated with several factors inherent in modernity – economic globalization, the growing interaction between the world's cultures, the emergence of new types of financial transactions of cultural monuments and market expansion. Contemporary developments in mathematical prediction required to act in the following order: statement of purpose assessment, the formulation of clear guidelines evaluation, establishment of baseline data on the basis of kinship items that are already on the market and use of well-defined mathematical apparatus for predictive conclusions, analyze the information and meaningful exploration revealed empirical regularities, as well as building a general asymptotic theory-based prediction model and the use of certain procedures with respect to the verification of the results. Regarding the purpose of forecasting, it is dependent on a number of subjective factors but provides some general options – an assessment of possible losses in case of loss of the owner attractions assessment for the purpose of pre-training assessment to conduct financial transactions (insurance, mortgage, lease, backing securities, etc.). In addition, in the case of pre-training, the amount of information that accompanies the memorial culture in the process of promotion to roar pattern reflects: "About monuments after the sale is much more capacious than the accompanying information from the seller". This is because at the time of the sale of an additional motivation for the acquisition is related to subjective factors. Predicting the value should be based on knowledge of the two basic laws of merchandise that are both formulations of the basic principles of assessment. First: "The more positive information about the monuments, the higher the quality and therefore the cost." The second, "The distribution of cost parameters on monuments in the market corresponds to the distribution of financial opportunities to potential buyers." The paper also provides several examples of analysis of market data. In particular, paintings, works of art made of wood and ceramic products. Thus, the analysis of the market of paintings found that the distribution of cost factors in the market is described by a logarithmic dependence ("value" (C) – "order value" (x)), which is well formalized by means of the empirical equation: C = 2 (0.055 x + 2,465). This fully confirms the dependence of the second law of merchandise. Index matching theoretical assumptions to actual observed patterns (Karl Pearson) is 0.91, indicating that the use of the results obtained in the problems of forecasting value. The results also allow you to share a set of information in the database into separate merchandising team. The first is characterized by relatively low values of the unit cost of works describing the achievements of young artists who, although marked talent, but not yet the recognition and popularity. Specific cost of these works is 4 to 15 euros per square decimeter. The second group – artists recognized nationally and sufficiently publicized. The specific cost of the works is 15 to 75 euros per square decimeter. The third group – the famous and popular artists, the specific cost of which ranges from 75 to 400 euros per square decimeter. It is also reasonable distribution to more groups that allow to describe in more detail those models, which we later (when the transactions prediction value), by taking counterparts. So simple calculations allow for the development of art results in a convincing level. The same method was processed material market works with wood and ceramics, which allowed to reach the following conclusions:

1. Any suggestions related to the invoicing of the goods for sale are described and it is a characteristic logarithmic distribution of cost in space characteristics "order value". Namely, S = α 2N where: C – Estimated cost; α base estimates; N-number of positive information about the quality of the assessment. This pattern is evident in all the marketsof the world and for any and all commodities. reached the following conclusions:

2. Analysis of the distribution ranges of cost performance, performing to examine the real market supply, allowing to prove the existence of certain commodity product groups, use appropriate analytical capabilities for the analysis of the qualitative characteristics of products related by way of consumption, direction and purpose of use.

3. From the way the fragmentation of the polygon value distribution cost to individual merchandising group determines the final outcome prediction. This is an important conclusion derived requires an expert to individual motivations of their actions.

4. Prediction quality depends on: the choice of information sources, the number of processed information, the accuracy of forecasting statement of purpose, there is information about the main impacts to the real market value and the existence of other forecasting methods that can detect more effective within the goal.