An Indicator System and Evaluation Modeling Method for the Value of Cultural Artworks

This paper focuses on exploring a method for assessing the value of cultural artworks. Firstly, it analyzes the value composition of cultural artworks, divides it into six first-level indicators (culture, art, aesthetics, history, symbolic value, and social recognition), sets up different numbers of second-level indicators under each first-level indicator, and establishes a measurable indicator system. Secondly, the gold-denominated trading price of cultural artworks is used as an anchor to measure their price. Finally, a cultural artwork value assessment model is designed by combining the Hedonic Price Method and the Repeat Sale Method. The model can be applied in evaluating cultural artworks value, analyzing investment income, and establishing cultural artworks market index.