1. The death effect in art prices: evidence from Denmark
- Author
-
Maddison, David and Pedersen, Anders Jul
- Subjects
Art -- Denmark ,Art -- Prices and rates ,Art -- Economic aspects ,Death -- Influence ,Painters -- Economic aspects ,Death in art -- Denmark ,Death in art -- Prices and rates ,Death in art -- Economic aspects ,Company pricing policy ,Business ,Business, general ,Economics - Abstract
A study was conducted to examine the price dynamics of an artist's work around the time of their death. A panel of paintings by Danish painters is analyzed. Findings indicate that the conditional life expectancy of the artist at the time of sale has a negative effect on the sale price. Results also show that interest in artists' works begins to decline after their death.
- Published
- 2008