Abstract
Within a hedonic pricing model the preferences of art purchasers for the measurable dimensions of artworks are investigated. The golden ratio’ hypothesis is tested for the first time in a market situation, with negative results. The impact on the prices of works by artists who have won the Archibald portraiture prize is estimated. This indicates that Australian art purchasers are not fully informed. In addition an unsuspected relationship between artwork dimensions and Archibald prize winners was found. Artists’ choices of the dimensions of their works are also considered. Overall, the results suggest that previous art price models are incompletely specified.
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