Categories El Valor del Arte, General

DOES THE PRICE OF ART INCREASE AFTER THE DEATH OF THE ARTIST?

“Yes, most probably, I’m sure…” are the most common answers from anyone. This is just a standard feeling because people tend to think artist can not create anymore artworks but don’t have any proven fact and even no clue about how much.

Now ArtsGain team has developed a research to answer these questions based on real data of artists providing key conclusions about it.

Data used for ‘Second Life’ research

  • All those artists classified in the list of top 500 by ArtPrice* who died between 2000 and 2017 segmented by painters and sculptors for any kind of art style.
  • Artist evolution prices are based on global artwork values from ArtPrice* database.
  • Research team analyzed following 36 artists: Antoni Tapies, Lucian Freud, Cy Twombly, Zao Wouki, Wu Guanzhong, Sigmar Polke, Louise Bourgeois, Robert Rauschenberg, Ellsworth Kelly, Maqbool Fida Husain,Tyeb Mehta, Helen Frankenthaler, François Xavier Lalanne, Kenneth Noland, Cheng Shifa, Günther Förg, Simon Hantaï, John Angus Chamberlain, Shozo Shimamoto, Kazuo Shiraga, On Kawara, Barry Flanagan, Mike Kelley, Sol Lewitt, Ting Walasse, Anita Magsaysay-ho, Agostino Bonalumi, Piero Dorazio, Frank Jeffrey Edson Smart, Wojcieck Fangor, Franz West, Georges Mathieu, Sadamasa Motonaga, Claudio Bravo, Bai Xueshi and Manjit Bawa.

Average Artist Profile

Artist included in this research in average was 83 year-old, born in 1928 and died in 2011.

Reality check on ‘Second Life’ research

You may think all selected artists should be able to increase their artwork values in any case due to all of them are part of the top 500 list.

For this reason, we selected randomly another bunch of British ‘unknown’ artists that died during same period 2000-2017 to make a reality check about their average artwork prices evolution in a specific geography to avoid as well any variability of the location.

Key data and conclusions of this additional reality check are the following:

  • In average, their prices have increased by 74% during 2000-2017 period while global ArtPrice index increased only by 30% for same period across all artwork prices of the world.
  • Average selling prices has been moved  from $35,020 to $60,979 per artwork for those ‘unknown’ artists.
  • Average ArtPrice* ranking position for those ‘unknown’ artists are in the range of between 7,300 and 16,000.

Conclusions about ‘Second Life’ research

  • Prices increased by at least 57% after the death of the artist.
  • At least 6 times prices increased when comparing with global art index price.
  • Buying artworks of recognized ‘Second life’ artists implies a potential greater return of investment than any other contemporary or recognized artists.
  • Buying artworks of artists in their last period of their life can potentially
    generate large gains for next coming years: in the years previous to their decease (see peaks in the graph) and more consistently after this event.
  • Investing in artworks of ‘second life’ artists can generate quick liquidity as the demand grew up two times.
  • Consider low-priced purchase opportunities before the artist’s death.

(*) ArtPrice is the world’s leader in information on the global fine arts market and listed in Euronext Paris.