William Forsyth Sharpe (b.1934). - photo 1
William Forsyth Sharpe (b.1934). - photo 2

William Forsyth Sharpe (b.1934).

Sold
£ 6 250
Auction dateClassic
28.04.2021 11:00UTC +01:00
Auctioneer
CHRISTIE'S
Event location
United Kingdom, London
Archive
The auction is completed. No bids can be placed anymore.
Archive
ID 519340
Lot 50 | William Forsyth Sharpe (b.1934).
William Forsyth Sharpe (b.1934).
‘Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk,’ pp. 425-442 in: The Journal of Finance, Vol. 19, No. 3, September 1964. Oxford: Blackwell Publishing for the American Finance Association, 1964.
First edition, journal issue in original printed wrappers, inscribed by Sharpe, of the first announcement of his Capital Asset Pricing Model (CAPM) – the work for which Sharpe won the Nobel Memorial Prize in Economic Sciences in 1990. The CAPM states that the risk premium of an asset is equal to the asset's exposure to market risk (beta) times the risk premium of the market. This model has been taught in business schools for more than fifty years, and it is commonly used by practitioners and investors to compute the cost of capital and to build investment strategies.

Octavo (254 x 171mm). Original printed wrappers (four pen marks and one in pencil to front wrapper, lightly toned and marked).
Address of auction CHRISTIE'S
8 King Street, St. James's
SW1Y 6QT London
United Kingdom
Preview
14.04.2021 – 28.04.2021
Phone +44 (0)20 7839 9060
Email
4FQ.AYGKAGLUQ@FO3G@
Buyer Premium see on Website
Conditions of purchaseConditions of purchase

Frequently asked questions

First of all, you should register to be able to purchase at auction. After confirming your email address, enter your personal information in your user profile, such as your first name, last name, and mail address. Choose a lot from the upcoming auction and the maximum amount you want to place on it. After confirmation of your choice, we will send your application by e-mail to the appropriate auction house. If the auction house accepts a request, it will participate in the auction. You can view the current status of a bid at any time in your personal account in the "Bids" section.
Auctions are performed by auction houses and each of the auction houses describes their terms of auction. You can see the texts in the section "Auction information".
The results of the auction are published within a few days after the end of the auction. In the top menu of the site, find the tab "Auctions". Click on it and you will be on the auction catalog page, where you can easily find the category "Results". After opening it, select the desired auction from the list, enter and view the current status of the interested lot.
The information about the auction winners is confidential. The auction winner will receive a direct notification from the auction house responsible with instructions for further action: an invoice for payment and the manner in which the goods will be received.
Each of the auction houses has its own payment policy for the won lots. All auction houses accept bank transfers, most of them accept credit card payments. In the near future you will find detailed information for each case in the section "Auction information" on the page of the auction catalog and the lot.
Shipment of the won lot depends on its size. Small items can be delivered by post. Larger lots are sent by courier. Employees of the auction houses will offer you a wide range to choose from.
No. The archive serves as a reference for the study of auction prices, photographs and descriptions of works of art.