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INVESTIGATION OF BUSINESS AND CULTURE-ART TOURISM DEMAND SOURCED FROM INTERNATIONAL AUCTION HOUSES

Year 2024, , 1179 - 1191, 25.07.2024
https://doi.org/10.17755/esosder.1450969

Abstract

This study aims to investigate the impact of auction houses on the demand for business and cultural tourism, influencing travel experiences and shaping tourist expenditures. Using a decade of data and field observations, in-depth interviews were conducted with auction house stakeholders to explore the gap between starting and final selling prices and the tourist flow at these establishments. Tourist numbers were determined through “Office for National Statistics” data, and auction data were analysed using product catalogues and bid prices. Descriptive statistics and regression analysis were employed to examine the relationship between tourist numbers and auction prices. The findings revealed no significant correlation between the selling prices of Islamic artefacts and tourist numbers; however, a robust connection was observed between auction prices and final selling prices. It is recommended to further analyse additional factors affecting tourist numbers. In light of these results, strategies emphasizing cultural and historical value are proposed for auction houses to enhance their tourist appeal, including the use of digital marketing and a reassessment of pricing strategies. This research underscores the need for a deeper understanding of the intricate relationship between auction houses and the tourism industry, emphasizing the necessity for further studies to make progress in comprehending and developing more effective strategies within a concise framework.

References

  • Abeysinghe, S., Manchanayake, I., Samarajeewa, C., Rathnayaka, P., Walpola, M. J., Nawaratne, R., & Alahakoon, D. (2018). Enhancing decision making capacity in tourism domain using social media analytics. 18th International Conference on Advances in ICT for Emerging Regions (ICTer) (pp. 369-375). IEEE.
  • Akat, Ö. (1997). Pazarlama ağırlıklı turizm işletmeciliği, Bursa: Ekin Kitabevi.
  • Akbay, R. (2010). The development of e-commerce in Turkey, International Journal of E-Services and Mobile Applications, 2(4), 1-11.
  • Alpullu, A., & Onur, A. K. (2018). The effect of sports tourısm and recreatıon sector perceptıon on student career plans, Turkish Journal of Sport and Exercise, 20(2), 67-73.
  • Ashenfelter, O. (1989). How auctions work for wine and art, Journal of Economic Perspectives, 3(3), 23-36.
  • Bajari, P., & Hortacsu, A. (2004). Economic insights from internet auctions, Journal of Economic Literature, 42(2), 457-486.
  • Bapna, R., Goes, P., & Gupta, A. (2003). Replicating online Yankee auctions to analyze auctioneers' and bidders' strategies. Information Systems Research, 14(3), 244-268.
  • Bapna, R., Jank, W., & Shmueli, G. (2008). Consumer surplus in online auctions. Information Systems Research, 19(4), 400-416.
  • Beggs, A., & Graddy, K. (2009). Anchoring effects: Evidence from art auctions. American Economic Review, 99(3), 1027-1039.
  • Blum, A., Kumar, V., Rudra, A., & Wu, F. (2004). Online learning in online auctions. Theoretical Computer Science, 324(2-3), 137-146.
  • Boniface, B., & Cooper, C. (2005). Worldwide destinations: The geography of travel and tourism (5 Ed). Oxford: Elsevier
  • Bourdieu, P. (1993). The field of cultural production. Columbia University Press.
  • Bozoğlu Demirdöven, J., & Ödekan, A. (2009). Müzayedelerin sanat piyasalarındaki rolü ve Türkiye'deki yansımaları, İTÜ Dergisi/b Sosyal Bilimler, 5(1), 55-56.
  • Breda, E., & Oddo, G. (2019). The determinants of foreign tourism demand: separating elasticities for the extensive and the ıntensive margin, questioni di economia e finanza, Occasional Papers, 482, Bank of Italy, Economic Research and International Relations Area.
  • Briones, J. A., Tejeida, R., & Morales, O. (2009). Toward the Evolution of the Tourism’s Conceptual System. Proceedings of the 53rd Annual Meeting of the ISSS - 2009, Brisbane, Australia, 1(1). Retrieved from https://journals.isss.org/index.php/proceedings53rd/article/view/1232.
  • Brumaru, P. A., & Taloş, A. M. (2011). Sociology of tourism. Cinq Continents, 1(2), 184-193.
  • Budak, T., & Saban, M. (2010). Müzayede Yoluyla Satılan Sanat Eserlerinin Vergilendirilmesi, Değerlemesi ve Amortismanı, Maliye Dergisi, 159, 167-182.
  • Bulow, J., & Klemperer, P. (1996). Auctions versus negotiations. American Economic Review, 86(1).
  • Çatı, K., & Tuna, H. (2007). Türkiye’nin tanıtım harcamaları ile turizm geliri arasındaki ilişkinin belirlenmesine yönelik bir araştırma. Abant İzzet Baysal Üniversitesi, Sosyal Bilimler Enstitüsü Dergisi, (2), 13-33.
  • Çizakça, M. (1996). A comparative evolution of business partnerships: The Islamic world and Europe, with specific reference to the Ottoman archives. Brill.
  • Edelman, B., & Ostrovsky, M. (2007). Strategic bidder behavior in sponsored search auctions. Decision support systems, 43(1), 192-198.
  • Eilat, Y., & Einav, L. (2004). Determinants of ınternational tourism: a three-dimensional panel data analysis. Applied Economics. 36. 1315-1327. 10.1080/000368404000180897.
  • Foucault, T., Kadan, O., & Kandel, E. (2005). Limit order book as a market for liquidity. The Review of Financial Studies, 18(4), 1171-1217.
  • Frey, B. S., & Eichenberger, R. (1995). On the return of art investment return analyses. Journal of Cultural Economics, 19, 207-220.
  • Friedman, D. (1991). A simple testable model of double auction markets. Journal of Economic Behavior & Organization, 15(1), 47-70.
  • Hollander, S. (1977). The reception of Ricardian economics. Oxford economic papers, 29(2), 221-257.
  • Holloway, J. C., (2009). The business of tourism (8 Ed.). Harlow: PT Financial Times.
  • Houser, D., & Wooders, J. (2006). Reputation in auctions: Theory, and evidence from eBay. Journal of Economics & Management Strategy, 15(2), 353-369.
  • Lickorish, L. J., & Jenkins, C. (1997). An ıntroduction to tourism. Oxford: ButterworthHeinemann.
  • Lim, C. (1997). Review of International Tourism Demand Models. Annals of Tourism Research, 24, 835-849.
  • Louargand, M. A., & McDaniel, J. R. (1991). Price efficiency in the art auction market. Journal of Cultural Economics, 53-65.
  • McAfee, R. P., & McMillan, J. (1987). Auctions with entry. Economics Letters, 23(4), 343-347.
  • McAndrew, C. (2018). The Art Market 2018. Art Basel & UBS.
  • Mcintosh, R. W., & Goeldner, C. R. (1986). Tourism: Principles, practices, philosophies. New York, Wiley.
  • Medlik, S. (2011). Dictionary of travel, tourism and hospitality (3 Ed.). USA: Routledge.
  • Mei, J., & Moses, M. (2005). Vested interest and biased price estimates: Evidence from an auction market. The Journal of Finance, 60(5), 2409-2435.
  • Melnik, M. I., & Alm, J. (2002). Does a seller’s ecommerce reputation matter? Evidence from eBay auctions. The journal of industrial economics, 50(3), 337-349.
  • Office For National Statistics (2023). People Population and Community (https://www.ons.gov.uk/peoplepopulationandcommunity/leisureandtourism/times eries/ gmat/ott/previous) (Erişim: 20.06.2023).
  • O'neill, B. (1986). International escalation and the dollar auction. Journal of Conflict Resolution, 30(1), 33-50.
  • Ordonez, J. M., Ordonez, M. D. C., & Torres, J. L. (2010). Distance Matters: An Assessment of International Tourism Demand in Spain. Tourism Analysis, 15(2), 183–196.
  • Parkes, D. C. (2001). Iterative combinatorial auctions: Achieving economic and computational efficiency. University of Pennsylvania.
  • Parkes, D. C., & Wellman, M. P. (2015). Economic reasoning and artificial intelligence. Science, 349(6245), 267-272.
  • Peng, B., Song, H., Crouch, G. I., & Witt, S.F. (2014). A meta-analysis of ınternational tourism demand elasticities. Journal of Travel Research, 54(5), 611–633
  • Reinhart, V., & Belzer, G. (1996). Some evidence on bid shading and the use of information in the US treasury's auction experiment. Working Paper, Board of Governors of the Federal Reserve System.
  • Renneboog, L., & Spaenjers, C. (2013). Buying beauty: On prices and returns in the art market. Management Science, 59(1), 36-53.
  • Resnick, P., Zeckhauser, R., Swanson, J., & Lockwood, K. (2006). The value of reputation on eBay: A controlled experiment. Experimental Economics, 9, 79-101.
  • Soysal, İ. (2017). İletişim inkılabı ve milli kültür, Erdem Dergisi, 1(1).
  • Spalding, M., & Parrett, C. L. (2019). Global patterns in mangrove recreation and tourism. Marine Policy, 110, 103540.
  • Stallabrass, J. (2004). Art incorporated: the story of contemporary art. Oxford University Press.
  • Stockdale, J., (1985). what is leisure? an empirical analysis of the concept of leisure and the role of leisure in people’s lives, the sports council and esrc. London
  • Var, T., & Gunn, C. (2020). Tourism planning: Basics, concepts, cases. Routledge.
  • Velthuis, O. (2011). Art markets. In a handbook of cultural economics, Second Edition. Edward Elgar Publishing.
  • Vickrey, W. (1961). Counterspeculation, auctions, and competitive sealed tenders. The Journal of finance, 16(1), 8-37.
  • Yeldan, E. (2001). Küreselleşme sürecinde Türkiye ekonomisi. İstanbul: İletişim Yayınları, 20-23.
  • Yücel, S. Ü. (2004). Yayla turizmi, TÜRSAB Dergi, sayı: 244, 12-19.
  • Zortuk, M., ve Bayrak, S. (2013). Seçilmiş ülkelere göre Türkiye’nin turizm talebi. Istanbul University Econometrics And Statistics E-Journal, (19), 38-58.

ULUSLARASI MÜZAYEDE EVLERİ KAYNAKLI İŞ VE KÜLTÜR-SANAT TURİZMİ TALEBİNİN İNCELENMESİ

Year 2024, , 1179 - 1191, 25.07.2024
https://doi.org/10.17755/esosder.1450969

Abstract

Bu araştırma, iş ve kültür seyahatlerinin deneyimini artıran, turistik harcamaları şekillendiren müzayede evlerinin iş ve kültür turizmi talebi üzerindeki etkilerini incelemeyi amaçlamaktadır. On yıllık veriler ve saha gözlemleri kullanılarak, müzayede evlerinin yöneticileri, katılımcılar ve uzmanlarla yapılan derinlemesine görüşmelerle müzayede başlangıç fiyatı ile satış fiyatı arasındaki fark ve müzayede evlerine gelenlerin turistik hareket oranları araştırılmıştır. Yöntem olarak, turist sayıları Ulusal İstatistik Bürosu verileri kullanılarak belirlenmiş, müzayede verileri ürün katalogları ve teklif fiyatları üzerinden analiz edilmiştir. Tanımlayıcı istatistikler ve regresyon analizi kullanılarak turist sayıları ile müzayede fiyatları arasındaki ilişki incelenmiştir. Sonuçlar, İslami eserlerin satış fiyatları ile turist sayısı arasında anlamlı bir ilişki bulunmadığını, ancak müzayede fiyatları ile nihai fiyat arasında güçlü bir ilişki olduğunu göstermiştir. Turist sayısını etkileyen diğer faktörlerin de analiz edilmesi önerilmiştir. Bu bulgular ışığında, müzayede evlerinin turistik çekiciliği artırmak için kültürel ve tarihi değeri vurgulayan stratejilere yönelmeleri, dijital pazarlamayı kullanmaları ve fiyat belirleme stratejilerini gözden geçirmeleri önerilmiştir. Araştırma, müzayede evleri ve turizm endüstrisi arasındaki karmaşık ilişkiyi anlama ve daha etkili stratejiler geliştirme konusunda ilerleme kaydetmek için daha fazla çalışma gerektiğini vurgulamaktadır.

References

  • Abeysinghe, S., Manchanayake, I., Samarajeewa, C., Rathnayaka, P., Walpola, M. J., Nawaratne, R., & Alahakoon, D. (2018). Enhancing decision making capacity in tourism domain using social media analytics. 18th International Conference on Advances in ICT for Emerging Regions (ICTer) (pp. 369-375). IEEE.
  • Akat, Ö. (1997). Pazarlama ağırlıklı turizm işletmeciliği, Bursa: Ekin Kitabevi.
  • Akbay, R. (2010). The development of e-commerce in Turkey, International Journal of E-Services and Mobile Applications, 2(4), 1-11.
  • Alpullu, A., & Onur, A. K. (2018). The effect of sports tourısm and recreatıon sector perceptıon on student career plans, Turkish Journal of Sport and Exercise, 20(2), 67-73.
  • Ashenfelter, O. (1989). How auctions work for wine and art, Journal of Economic Perspectives, 3(3), 23-36.
  • Bajari, P., & Hortacsu, A. (2004). Economic insights from internet auctions, Journal of Economic Literature, 42(2), 457-486.
  • Bapna, R., Goes, P., & Gupta, A. (2003). Replicating online Yankee auctions to analyze auctioneers' and bidders' strategies. Information Systems Research, 14(3), 244-268.
  • Bapna, R., Jank, W., & Shmueli, G. (2008). Consumer surplus in online auctions. Information Systems Research, 19(4), 400-416.
  • Beggs, A., & Graddy, K. (2009). Anchoring effects: Evidence from art auctions. American Economic Review, 99(3), 1027-1039.
  • Blum, A., Kumar, V., Rudra, A., & Wu, F. (2004). Online learning in online auctions. Theoretical Computer Science, 324(2-3), 137-146.
  • Boniface, B., & Cooper, C. (2005). Worldwide destinations: The geography of travel and tourism (5 Ed). Oxford: Elsevier
  • Bourdieu, P. (1993). The field of cultural production. Columbia University Press.
  • Bozoğlu Demirdöven, J., & Ödekan, A. (2009). Müzayedelerin sanat piyasalarındaki rolü ve Türkiye'deki yansımaları, İTÜ Dergisi/b Sosyal Bilimler, 5(1), 55-56.
  • Breda, E., & Oddo, G. (2019). The determinants of foreign tourism demand: separating elasticities for the extensive and the ıntensive margin, questioni di economia e finanza, Occasional Papers, 482, Bank of Italy, Economic Research and International Relations Area.
  • Briones, J. A., Tejeida, R., & Morales, O. (2009). Toward the Evolution of the Tourism’s Conceptual System. Proceedings of the 53rd Annual Meeting of the ISSS - 2009, Brisbane, Australia, 1(1). Retrieved from https://journals.isss.org/index.php/proceedings53rd/article/view/1232.
  • Brumaru, P. A., & Taloş, A. M. (2011). Sociology of tourism. Cinq Continents, 1(2), 184-193.
  • Budak, T., & Saban, M. (2010). Müzayede Yoluyla Satılan Sanat Eserlerinin Vergilendirilmesi, Değerlemesi ve Amortismanı, Maliye Dergisi, 159, 167-182.
  • Bulow, J., & Klemperer, P. (1996). Auctions versus negotiations. American Economic Review, 86(1).
  • Çatı, K., & Tuna, H. (2007). Türkiye’nin tanıtım harcamaları ile turizm geliri arasındaki ilişkinin belirlenmesine yönelik bir araştırma. Abant İzzet Baysal Üniversitesi, Sosyal Bilimler Enstitüsü Dergisi, (2), 13-33.
  • Çizakça, M. (1996). A comparative evolution of business partnerships: The Islamic world and Europe, with specific reference to the Ottoman archives. Brill.
  • Edelman, B., & Ostrovsky, M. (2007). Strategic bidder behavior in sponsored search auctions. Decision support systems, 43(1), 192-198.
  • Eilat, Y., & Einav, L. (2004). Determinants of ınternational tourism: a three-dimensional panel data analysis. Applied Economics. 36. 1315-1327. 10.1080/000368404000180897.
  • Foucault, T., Kadan, O., & Kandel, E. (2005). Limit order book as a market for liquidity. The Review of Financial Studies, 18(4), 1171-1217.
  • Frey, B. S., & Eichenberger, R. (1995). On the return of art investment return analyses. Journal of Cultural Economics, 19, 207-220.
  • Friedman, D. (1991). A simple testable model of double auction markets. Journal of Economic Behavior & Organization, 15(1), 47-70.
  • Hollander, S. (1977). The reception of Ricardian economics. Oxford economic papers, 29(2), 221-257.
  • Holloway, J. C., (2009). The business of tourism (8 Ed.). Harlow: PT Financial Times.
  • Houser, D., & Wooders, J. (2006). Reputation in auctions: Theory, and evidence from eBay. Journal of Economics & Management Strategy, 15(2), 353-369.
  • Lickorish, L. J., & Jenkins, C. (1997). An ıntroduction to tourism. Oxford: ButterworthHeinemann.
  • Lim, C. (1997). Review of International Tourism Demand Models. Annals of Tourism Research, 24, 835-849.
  • Louargand, M. A., & McDaniel, J. R. (1991). Price efficiency in the art auction market. Journal of Cultural Economics, 53-65.
  • McAfee, R. P., & McMillan, J. (1987). Auctions with entry. Economics Letters, 23(4), 343-347.
  • McAndrew, C. (2018). The Art Market 2018. Art Basel & UBS.
  • Mcintosh, R. W., & Goeldner, C. R. (1986). Tourism: Principles, practices, philosophies. New York, Wiley.
  • Medlik, S. (2011). Dictionary of travel, tourism and hospitality (3 Ed.). USA: Routledge.
  • Mei, J., & Moses, M. (2005). Vested interest and biased price estimates: Evidence from an auction market. The Journal of Finance, 60(5), 2409-2435.
  • Melnik, M. I., & Alm, J. (2002). Does a seller’s ecommerce reputation matter? Evidence from eBay auctions. The journal of industrial economics, 50(3), 337-349.
  • Office For National Statistics (2023). People Population and Community (https://www.ons.gov.uk/peoplepopulationandcommunity/leisureandtourism/times eries/ gmat/ott/previous) (Erişim: 20.06.2023).
  • O'neill, B. (1986). International escalation and the dollar auction. Journal of Conflict Resolution, 30(1), 33-50.
  • Ordonez, J. M., Ordonez, M. D. C., & Torres, J. L. (2010). Distance Matters: An Assessment of International Tourism Demand in Spain. Tourism Analysis, 15(2), 183–196.
  • Parkes, D. C. (2001). Iterative combinatorial auctions: Achieving economic and computational efficiency. University of Pennsylvania.
  • Parkes, D. C., & Wellman, M. P. (2015). Economic reasoning and artificial intelligence. Science, 349(6245), 267-272.
  • Peng, B., Song, H., Crouch, G. I., & Witt, S.F. (2014). A meta-analysis of ınternational tourism demand elasticities. Journal of Travel Research, 54(5), 611–633
  • Reinhart, V., & Belzer, G. (1996). Some evidence on bid shading and the use of information in the US treasury's auction experiment. Working Paper, Board of Governors of the Federal Reserve System.
  • Renneboog, L., & Spaenjers, C. (2013). Buying beauty: On prices and returns in the art market. Management Science, 59(1), 36-53.
  • Resnick, P., Zeckhauser, R., Swanson, J., & Lockwood, K. (2006). The value of reputation on eBay: A controlled experiment. Experimental Economics, 9, 79-101.
  • Soysal, İ. (2017). İletişim inkılabı ve milli kültür, Erdem Dergisi, 1(1).
  • Spalding, M., & Parrett, C. L. (2019). Global patterns in mangrove recreation and tourism. Marine Policy, 110, 103540.
  • Stallabrass, J. (2004). Art incorporated: the story of contemporary art. Oxford University Press.
  • Stockdale, J., (1985). what is leisure? an empirical analysis of the concept of leisure and the role of leisure in people’s lives, the sports council and esrc. London
  • Var, T., & Gunn, C. (2020). Tourism planning: Basics, concepts, cases. Routledge.
  • Velthuis, O. (2011). Art markets. In a handbook of cultural economics, Second Edition. Edward Elgar Publishing.
  • Vickrey, W. (1961). Counterspeculation, auctions, and competitive sealed tenders. The Journal of finance, 16(1), 8-37.
  • Yeldan, E. (2001). Küreselleşme sürecinde Türkiye ekonomisi. İstanbul: İletişim Yayınları, 20-23.
  • Yücel, S. Ü. (2004). Yayla turizmi, TÜRSAB Dergi, sayı: 244, 12-19.
  • Zortuk, M., ve Bayrak, S. (2013). Seçilmiş ülkelere göre Türkiye’nin turizm talebi. Istanbul University Econometrics And Statistics E-Journal, (19), 38-58.
There are 56 citations in total.

Details

Primary Language English
Subjects Business Administration, Intercultural Communication, Tourism (Other)
Journal Section Research Article
Authors

Yusuf Gezer, Ll. M. 0000-0002-6722-467X

Said Kıngır 0000-0002-5459-3484

Early Pub Date July 14, 2024
Publication Date July 25, 2024
Submission Date March 11, 2024
Acceptance Date May 1, 2024
Published in Issue Year 2024

Cite

APA Gezer, Ll. M., Y., & Kıngır, S. (2024). INVESTIGATION OF BUSINESS AND CULTURE-ART TOURISM DEMAND SOURCED FROM INTERNATIONAL AUCTION HOUSES. Elektronik Sosyal Bilimler Dergisi, 23(91), 1179-1191. https://doi.org/10.17755/esosder.1450969

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