⚠ Whole market, base year 1980 (1983 for bows). Maker by maker, growth ranges from −5.7% to +7.2% a year: see each maker's own page.
Buy → resell: 100 = what the buyer paid in the start year (hammer + buyer's premium). The curve = what he would keep by reselling in a later year, after the seller's fee and tax, in constant dollars. Above 100: a gain; below (red): a loss. Average of makers, not one instrument; insurance, restoration and dealer margins not counted. Move the left handle to change the year of purchase.
Drag the handles to change the start and end years. The index is 100 in the base year (violins 1980, bows 1983), or in the start year if later. All values in constant 2026 dollars (US CPI). Method: within-maker OLS of log price on year (maker fixed effects). Each sale is compared only with sales by the same maker, so a year with many expensive makers does not raise the index. Not a repeat-sales index: the data has no instrument identifier. Prices include buyer's premium as recorded. Years with fewer than 100 sales are omitted. Violins from 1975, with 1980 = 100: 1975-1979 are drawn lighter (fewer sales, a changing mix of auction houses).
Top: the buyer's premium added to the hammer price. Middle: the seller's fee taken from the hammer, mean of the year's sales. Bottom: the index above, split into hammer price and buyer's fees; dashed: what the seller gets.
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Each dot is one sale in 2026 dollars. Lines follow each maker's growth rate from the study.
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Every maker with at least 5 auction sales in the data. Click a column title to sort, click it again to reverse the order; click a maker to see each of his sales. Prices in 2026 dollars (adjusted for inflation), buyer's premium included.
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real price = price paid × CPI 2026 ÷ CPI of the sale year
We use the US consumer price index (CPI-U, Bureau of Labor Statistics; 2026 = 329.1). Example: $100,000 paid in 1980 (CPI 82.4) is worth about $399,000 in 2026 dollars. So every growth rate on this page is growth above inflation. Prices include the buyer's premium as recorded. Herrmann, Emil (USA, 20th century): 28 auction sales from 1975 to 2025 in our data. Median price $896, record $4,254 (1989, Sotheby's), in 2026 dollars, buyer's premium included. Real price growth since 1975: −0.69% a year (95% margin: ± 1.7 points).
| Date | Auction house | Price paid | In 2026 dollars |
|---|---|---|---|
| Jun 13, 2025 | Gardiner Houlgate | $563 | $575 |
| Sep 10, 2021 | Gardiner Houlgate | $335 | $407 |
| Jun 30, 2021 | Amati | $665 | $808 |
| Sep 11, 2020 | Gardiner Houlgate | $466 | $593 |
| May 6, 2004 | Tarisio | $546 | $951 |
| Dec 1, 1999 | Vichy Enchères | $544 | $1,075 |
| Apr 19, 1999 | Butterfield & Butterfield | $1,150 | $2,272 |
| May 12, 1996 | Skinner | $690 | $1,447 |
| May 12, 1996 | Skinner | $1,380 | $2,895 |
| Feb 15, 1996 | Bonhams | $389 | $816 |
| May 23, 1993 | Skinner | $303 | $690 |
| Mar 18, 1993 | Phillips | $290 | $660 |