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'Death effect' on collectible prices

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It has been widely observed that the price of art or celebrity memorabilia rises around the time of the artist or figure's death. Previous authors attribute this ' death effect ' primarily to expectations on the part of collectors concerning the future supply of collectibles relating to the public figure as in the case of a durable goods monopolist. The observations of the sports memorabilia market suggest that the increase in prices is instead due to a ' nostalgia effect ' as a result of the media attention that surrounds the death of a prominent public figure.
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Document Type: Research Article

Publication date: 2004-06-01

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