The death effect in art prices: evidence from Denmark

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 ult...

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Bibliographic Details
Published inApplied economics Vol. 40; no. 14; pp. 1789 - 1793
Main Authors Maddison, David, Jul Pedersen, Anders
Format Journal Article
LanguageEnglish
Published London Routledge 01.07.2008
Taylor and Francis Journals
Taylor & Francis Ltd
Taylor & Francis (Routledge)
SeriesApplied Economics
Subjects
Art market
Art markets
Artists
Deaths
Denmark
Economics of culture
Monopolies
Price formation
Prices
Studies
Denmark
Social Sciences & Humanities
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Summary: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.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0003-6846
1466-4283
DOI:10.1080/00036840600905191