{"id":12691,"date":"2025-03-12T10:53:38","date_gmt":"2025-03-12T09:53:38","guid":{"rendered":"https:\/\/www.uni.lu\/research-en\/?post_type=research-projects&#038;p=12691"},"modified":"2025-03-25T14:46:28","modified_gmt":"2025-03-25T13:46:28","slug":"datart-data-analytics-for-art-valuation","status":"publish","type":"research-projects","link":"https:\/\/www.uni.lu\/research-en\/research-projects\/datart-data-analytics-for-art-valuation\/","title":{"rendered":"DATART: DATA analytics for ART-valuation"},"content":{"rendered":"\n<section class=\"py-0 wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\n<section class=\"section no-padding-y wp-block-unilux-blocks-hero\">\n    <div class=\"hero hero--2  \">\n        \n<header class=\"wp-block-unilux-blocks-wrapper hero__header\">\n<div class=\"wp-block-unilux-blocks-wrapper hero__container\">\n<span class=\"hero__title__subject wp-block-unilux-blocks-plain-text\"><\/span>\n\n\n<h1 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"datart-data-analytics-for-art-valuation\"\n    >\n<strong>DATART: DATA analytics for ART-valuation<\/strong><\/h1>\n<\/div>\n<\/header>\n<figure class=\"wp-block-dev4-reusable-blocks-image hero__visual object-fit--cover\">\n    \n<img decoding=\"async\" class=\"wp-block-image unilux-custom-image-block\"\n                alt=\"\"\n            src=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/8\/2025\/03\/nasa-Q1p7bh3SHj8-unsplash-scaled.jpg\"\n                srcset=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/8\/2025\/03\/nasa-Q1p7bh3SHj8-unsplash-300x200.jpg 300w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/8\/2025\/03\/nasa-Q1p7bh3SHj8-unsplash-1024x681.jpg 1024w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/8\/2025\/03\/nasa-Q1p7bh3SHj8-unsplash-768x511.jpg 768w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/8\/2025\/03\/nasa-Q1p7bh3SHj8-unsplash-1536x1022.jpg 1536w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/8\/2025\/03\/nasa-Q1p7bh3SHj8-unsplash-2048x1363.jpg 2048w\"\n                style=\"object-position: 50.00% 50.00%; font-family: &quot;object-fit: cover; object-position: 50.00% 50.00%;&quot;; aspect-ratio: 16\/9; object-fit: cover; width: 100%;\"\n        loading=\"lazy\"\n\/>    <\/figure>\n<div class=\"wp-block-unilux-blocks-wrapper hero__body\">\n<div class=\"wp-block-unilux-blocks-wrapper hero__container\">\n<p class=\"wp-block-unilux-blocks-plain-text\"><\/p>\n\n\n<ul class=\"wp-block-unilux-blocks-custom-buttons btn-list\">\n\n<\/ul>\n<\/div>\n<\/div>\n    <\/div>\n<\/section>\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-md\"><\/div>\n\n\n<h2 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"the-project-at-a-glance\"\n    >\nThe project at a glance<\/h2>\n\n\n<div class=\"icon-info-wrapper\">\n    <ul class=\"wp-block-unilux-blocks-icon-info\">\n        <li class=\"wp-block-unilux-blocks-icon-info-item\">\n    \n<div class=\"wp-block-unilux-blocks-wrapper icon-info\">\n<div class=\"icon--primary icon--secondary-2  wp-block-unilux-blocks-icon-picker\">\n    <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--duration \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--duration\"><\/use><\/svg><\/div>\n\n\n<p class=\"has-1-125-rem-font-size\">Start date:<br><strong>01 December 2021<\/strong><\/p>\n<\/div>\n<\/li>\n<li class=\"wp-block-unilux-blocks-icon-info-item\">\n    \n<div class=\"wp-block-unilux-blocks-wrapper icon-info\">\n<div class=\"icon--primary icon--secondary-2  wp-block-unilux-blocks-icon-picker\">\n    <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--format \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--format\"><\/use><\/svg><\/div>\n\n\n<p class=\"has-1-125-rem-font-size\">Duration in months:<br><strong>48<\/strong><br><\/p>\n<\/div>\n<\/li>\n<li class=\"wp-block-unilux-blocks-icon-info-item\">\n    \n<div class=\"wp-block-unilux-blocks-wrapper icon-info\">\n<div class=\"icon--primary icon--secondary-2  wp-block-unilux-blocks-icon-picker\">\n    <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--funding \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--funding\"><\/use><\/svg><\/div>\n\n\n<p class=\"has-1-125-rem-font-size\">Funding:<br><strong>IAS Luxembourg<\/strong><\/p>\n<\/div>\n<\/li>\n<li class=\"wp-block-unilux-blocks-icon-info-item\">\n    \n<div class=\"wp-block-unilux-blocks-wrapper icon-info\">\n<div class=\"icon--primary icon--secondary-2  wp-block-unilux-blocks-icon-picker\">\n    <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--principal-investigator \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--principal-investigator\"><\/use><\/svg><\/div>\n\n\n<p class=\"has-1-125-rem-font-size\">Principal Investigator(s):<br><strong>Alessandro TUGNETTI<\/strong><\/p>\n<\/div>\n<\/li>\n    <\/ul>\n<\/div>\n\n\n\n<h2 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"about\"\n    >\nAbout<\/h2>\n\n\n\n<p>The importance that collectibles play in wealth management is becoming increasingly crucial, and this necessitates the development of models which can efficiently predict their price fluctuations. In this research, we will exploit the ways in which technology is changing the art market by applying supervised machine learning methods to artistic products. The objective will be to develop a pricing method that is on one hand more accurate, and on the other that maintains the level of interpretability of the models currently used in the industry. In particular, art pricing is typically concerned with estimating Ordinary Least Squares (OLS) models, leveraging on their interpretability potential. However, it is known how these algorithms have small predictive capacity when compared with more flexible models in sectors where the uncertainty and human bias of valuation experts become stronger. Once we take advantage of the strength and abundance of data existing on the \u201cphysical\u201d art framework, we will extend the reasoning to the Non Fungible Token (NFT) market. The goal here would be to understand the &#8220;&#8221;value-creating factors&#8221;&#8221; of NFTs, to compare them with those of classical works of art and discover points of synergy and detachment between these two worlds.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-md\"><\/div>\n\n\n<h2 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"organisation-and-partners\"\n    >\nOrganisation and Partners<\/h2>\n\n\n\n<p><strong>Faculty of Law, Economics and Finance (FDEF)<br>Institute for Advanced Studies (IAS)<\/strong><\/p>\n\n\n<div class=\"py-48 first:pt-0 last:pb-0 wp-block-unilux-blocks-people-list\">\n    \n<h2 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"project-team\"\n    >\nProject team<\/h2>\n<ul class=\"flex flex-wrap -mx-16 wp-block-unilux-blocks-people-item-wrapper\">\n    <li class=\"w-full md:w-1\/2 p-16 wp-block-unilux-blocks-people-item-automated\"><div class=\"ulux-card card-people bg-theme\"><div class=\"list-people bg-theme\">\n    <div class=\"list-people__container\">\n        <div class=\"list-people__visual\">\n            <figure class=\"wp-block-dev4-reusable-blocks-image\">\n                <!-- Template Image Component: default -->\n<img decoding=\"async\" class=\"w-full\" width=\"\" height=\"\" rel=\"\" alt=\"Prof Christos KOULOVATIANOS\" src=\"https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=\" srcset=\"https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=--thumbnail 150w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=--medium 300w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=--medium_large 768w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=--large 1024w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=--1536x1536 1536w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMDIxMjdfX0NocmlzdG9zIEtPVUxPVkFUSUFOT1M=--2048x2048 2048w\" loading=\"lazy\" \/><!-- end Image Component -->\n            <\/figure>\n        <\/div>\n        <div class=\"list-people__body\">\n            <h3 class=\"list-people__title\">Prof Christos KOULOVATIANOS<\/h3>\n            <p class=\"list-people__description\">Head of DF, Full professor<\/p>\n            <div class=\"wp-block-unilux-blocks-simple-cta wp-block-unilux-blocks-people-item-automated\">\n    <a\n        href=\"https:\/\/www.uni.lu\/fdef-en\/people\/christos-koulovatianos\/\"\n        title=\"Prof Christos KOULOVATIANOS\"\n        class=\"link-text link-text--icon list-people__link link-absolute\"\n        target=\"\"\n    >\n        <span class=\"link-text__body\">\n            <span class=\"link-text__name\">Learn more<\/span>\n        <\/span>\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-right \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\"><\/use><\/svg>    <\/a>\n<\/div>\n        <\/div>\n    <\/div>\n<\/div>\n<\/div><\/li><li class=\"w-full md:w-1\/2 p-16 wp-block-unilux-blocks-people-item-automated\"><div class=\"ulux-card card-people bg-theme\"><div class=\"list-people bg-theme\">\n    <div class=\"list-people__container\">\n        <div class=\"list-people__visual\">\n            <figure class=\"wp-block-dev4-reusable-blocks-image\">\n                <!-- Template Image Component: default -->\n<img decoding=\"async\" class=\"w-full\" width=\"\" height=\"\" rel=\"\" alt=\"Prof Gilbert FRIDGEN\" src=\"https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==\" srcset=\"https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==--thumbnail 150w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==--medium 300w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==--medium_large 768w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==--large 1024w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==--1536x1536 1536w,https:\/\/www.uni.lu\/en\/person-image\/NTAwMzg1MTZfX0dpbGJlcnQgRlJJREdFTg==--2048x2048 2048w\" loading=\"lazy\" \/><!-- end Image Component -->\n            <\/figure>\n        <\/div>\n        <div class=\"list-people__body\">\n            <h3 class=\"list-people__title\">Prof Gilbert FRIDGEN<\/h3>\n            <p class=\"list-people__description\">Full professor in Digital Financial Services \/ Paypal-FNR PEARL Chair<\/p>\n            <div class=\"wp-block-unilux-blocks-simple-cta wp-block-unilux-blocks-people-item-automated\">\n    <a\n        href=\"https:\/\/www.uni.lu\/snt-en\/people\/gilbert-fridgen\/\"\n        title=\"Prof Gilbert FRIDGEN\"\n        class=\"link-text link-text--icon list-people__link link-absolute\"\n        target=\"\"\n    >\n        <span class=\"link-text__body\">\n            <span class=\"link-text__name\">Learn more<\/span>\n        <\/span>\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-right \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\"><\/use><\/svg>    <\/a>\n<\/div>\n        <\/div>\n    <\/div>\n<\/div>\n<\/div><\/li><\/ul>\n\n<\/div>\n\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<p>The importance that collectibles play in wealth management is becoming increasingly crucial, and this necessitates the development of models which can efficiently predict their price fluctuations. In this research, we will exploit the ways in which technology is changing the art market by applying supervised machine learning methods to artistic products. The objective will be to develop a pricing method that is on one hand more accurate, and on the other that maintains the level of interpretability of the models currently used in the industry. In particular, art pricing is typically concerned with estimating Ordinary Least Squares (OLS) models, leveraging on their interpretability potential. However, it is known how these algorithms have small predictive capacity when compared with more flexible models in sectors where the uncertainty and human bias of valuation experts become stronger. Once we take advantage of the strength and abundance of data existing on the \u201cphysical\u201d art framework, we will extend the reasoning to the Non Fungible Token (NFT) market. The goal here would be to understand the &#8220;&#8221;value-creating factors&#8221;&#8221; of NFTs, to compare them with those of classical works of art and discover points of synergy and detachment between these two worlds.<\/p>\n","protected":false},"author":203,"featured_media":12786,"parent":0,"menu_order":0,"template":"","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"DATART","uluxPrePostTitle":"Research project","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"rpp_rp_identifier":"13131","rpp_taxonomies_in_sync":true},"research-project-status":[],"research-project-type":[],"field-of-interest":[],"organisation":[],"authorship":[203,329],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DATART: DATA analytics for ART-valuation I Uni.lu<\/title>\n<meta name=\"description\" content=\"The importance that collectibles play in wealth management is becoming increasingly crucial, and this necessitates the development of models which can efficiently predict their price fluctuations. In this research, we will exploit the ways in which technology is changing the art market by applying supervised machine learning methods to artistic products. The objective will be to develop a pricing method that is on one hand more accurate, and on the other that maintains the level of interpretability of the models currently used in the industry. In particular, art pricing is typically concerned with estimating Ordinary Least Squares (OLS) models, leveraging on their interpretability potential. However, it is known how these algorithms have small predictive capacity when compared with more flexible models in sectors where the uncertainty and human bias of valuation experts become stronger. Once we take advantage of the strength and abundance of data existing on the \u201cphysical\u201d art framework, we will extend the reasoning to the Non Fungible Token (NFT) market. The goal here would be to understand the &quot;&quot;value-creating factors&quot;&quot; of NFTs, to compare them with those of classical works of art and discover points of synergy and detachment between these two worlds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/research-en\/research-projects\/datart-data-analytics-for-art-valuation\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DATART: DATA analytics for ART-valuation\" \/>\n<meta property=\"og:description\" content=\"The importance that collectibles play in wealth management is becoming increasingly crucial, and this necessitates the development of models which can efficiently predict their price fluctuations. In this research, we will exploit the ways in which technology is changing the art market by applying supervised machine learning methods to artistic products. The objective will be to develop a pricing method that is on one hand more accurate, and on the other that maintains the level of interpretability of the models currently used in the industry. In particular, art pricing is typically concerned with estimating Ordinary Least Squares (OLS) models, leveraging on their interpretability potential. However, it is known how these algorithms have small predictive capacity when compared with more flexible models in sectors where the uncertainty and human bias of valuation experts become stronger. Once we take advantage of the strength and abundance of data existing on the \u201cphysical\u201d art framework, we will extend the reasoning to the Non Fungible Token (NFT) market. 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In this research, we will exploit the ways in which technology is changing the art market by applying supervised machine learning methods to artistic products. The objective will be to develop a pricing method that is on one hand more accurate, and on the other that maintains the level of interpretability of the models currently used in the industry. In particular, art pricing is typically concerned with estimating Ordinary Least Squares (OLS) models, leveraging on their interpretability potential. However, it is known how these algorithms have small predictive capacity when compared with more flexible models in sectors where the uncertainty and human bias of valuation experts become stronger. Once we take advantage of the strength and abundance of data existing on the \u201cphysical\u201d art framework, we will extend the reasoning to the Non Fungible Token (NFT) market. The goal here would be to understand the \"\"value-creating factors\"\" of NFTs, to compare them with those of classical works of art and discover points of synergy and detachment between these two worlds.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.uni.lu\/research-en\/research-projects\/datart-data-analytics-for-art-valuation\/","og_locale":"en_GB","og_type":"article","og_title":"DATART: DATA analytics for ART-valuation","og_description":"The importance that collectibles play in wealth management is becoming increasingly crucial, and this necessitates the development of models which can efficiently predict their price fluctuations. In this research, we will exploit the ways in which technology is changing the art market by applying supervised machine learning methods to artistic products. 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