Information asymmetries in the primary art market in the Netherlands

The aim of this thesis is to measure extent to which art dealers of a commercial art galleries in high-end and lower-end of a primary art market in the Netherlands provide all available information about the prices of the artworks for investors, collectors and general public. The main problem arises due to a limited access to information about the prices of artworks that are perceived as investment assets in present art market. The thesis examines the economic features of the primary art market that differ considerably from those of efficient market environment. The literature review and empirical research finds that primary art market in the Netherlands is inefficient in terms of economic laws and provision of informational efficiency.