The death effect in art prices: evidence from Denmark
Abstract:Analysing a panel of paintings by Danish painters suggests that the conditional life expectancy of the artist at the time of sale has a negative impact on the sale price. This is consistent with the idea that artists share some of the characteristics of durable monopolists and that the aging and ultimately the death of the artist represent acceptable forms of commitment not to 'overproduce'. In addition interest in an artist's work begins to wane after their death.
Document Type: Research Article
Affiliations: Department of Economics, University of Birmingham, Birmingham B15 2TT, United Kingdom
Publication date: July 1, 2008