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International Journal of Frontiers in Sociology, 2022, 4(1); doi: 10.25236/IJFS.2022.040101.

Research on the Influence of RMB Exchange Rate on oil Painting Auction Price


Tong Na

Corresponding Author:
Tong Na

Shanghai University, Shanghai, China


Based on the interaction between RMB exchange rate and oil painting auction price, this paper first introduces the current development of art market at home and abroad, and studies the main pricing methods. Then, according to the auction data of China's oil painting market, this paper analyzes the corresponding attributes of works, artists and auction houses to understand the impact of RMB exchange rate on oil painting auction price. At the same time, it analyzes the auction price of realistic oil painting and abstract oil painting in the secondary auction market. According to some expected conclusions set by market common sense, we finally found the evidence of these expected conclusions in the data. For example, the appreciation of RMB exchange rate has its inherent rationality and imperfection to the pricing method according to the size of the area, there are obvious differences between different styles of oil paintings in terms of price and exchange rate levels, top auction houses have obvious premium to their oil paintings, and the change of RMB exchange rate has obvious positive effect on the price of oil paintings. The innovations of this paper are as follows: 1. This paper makes a comparative study on the secondary auction market prices of realistic and abstract oil paintings in the domestic contemporary art market, and discusses the important factors of RMB exchange rate on the auction price. 2. The three-level model is used to analyze and compare the work level, the artist level and the auction agency level, so as to explore the "invisible" rules of the market. 3. Using the method of scoring and rating by people in the auction industry to comprehensively weigh the position of the auction house in the industry, we can achieve excellent results and understand the relative nature of RMB exchange rate on the oil paintings sold by the auction house. The deficiency of this paper is mainly due to the data is not sufficient, data is not rich enough; many problems still exist in the conclusion of the error.


Hedonic model, RMB exchange rate abstract, Oil painting auction

Cite This Paper

Tong Na. Research on the Influence of RMB Exchange Rate on oil Painting Auction Price. International Journal of Frontiers in Sociology (2022), Vol. 4, Issue 1: 1-4. https://doi.org/10.25236/IJFS.2022.040101.


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