Abstract
Works by the Canadian artists known as the Group of Seven have enjoyed tremendous success, as evidenced by the high prices fetched at auctions. Using a hedonic price regression we test for the significance of some characteristics that are thought to influence the price of Group art at auctions. The second part of the paper derives the rate of return for works of art by the Group after controlling for non-temporal determinants of price variations. The return is then compared to returns from other (more common ) types of investment.
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