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Paperback: 304 pages
Publisher: Hatje Cantz Published: August 2016 BUY THIS BOOK from: The Artist Estate: A Handbook for Artists, Executors, and Heirs from Amazon.com
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Selling prices do not automatically go up when an artist dies. In the overwhelming majority of cases, an artist's passing has little if any impact on their prices. Most artists age gracefully over time and gradually produce less as they get older. A significant number stop making art altogether, sometimes well in advance of their departures to that great art studio in the sky. In other words, their passings come as little or no surprise to anyone and their prices remain basically the same.
Alan Bamberger (on Facebook)
The value of an artist's artwork - within his estate - can remain the same OR may go up OR down.
It depends on
There can be a surge in demand after a death - but this can also taper off fast. Those whose artworks retain their value are:
However, there is also a notion that any increase in value is factored in BEFORE the artist dies Essentially art markets are just like any other market, they factor in expected changes before they happen - and when an artist gets very old and/or stops making artwork, the value of their artwork gets adjusted BEFORE they die. |
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“The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.” |
This book is about looking at the Art Market from an economists perspective i.e. scholarly analysis and NOT wishful or speculative thinking
Economists have, for some decades, studied such issues as
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Hardback: 386 pages
ISBN 10: 0190657898 ISBN 13: 978-0190657895 Publisher: Oxford University Press Published: 3 July 2017 (1st edition) BUY THIS HARDBACK BOOK: The Economics of America Art: Issues, Artists and Market Institutions from Amazon UK ​The Economics of America Art: Issues, Artists and Market Institutions from Amazon.com
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Robert B. Ekelund, Jr. is Professor and Eminent Scholar Emeritus in economics at Auburn University. John D. Jackson is Professor of Economics, Emeritus at Auburn University. Robert D. Tollison (deceased) was the J. Wilson Newman Professor Economics at Clemson University. He came to Clemson in 2003. |
The key thing is to make sure that an art collection that goes to auction is placed with the best auction house to reach the right people
Essentially, the disposal of retained artworks in the collection of the artist is absolutely no different to the disposal of artworks in the collection of an art collector. SEE Estate Planning for Art Collectors |
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.....in the wake of an artist’s death, take your time to see how the art world and auction houses react. While prices might spike in the short term, seeing a slow, sensible rise in value is always the safest bet. |
Art is valued on a number of factors and one is availability—how many works by that artist are on the market at one time. If a “block” of similar works were to suddenly appear simultaneously on the market, this appearance would result in a reduction of the fair market value for each individual item. |
- If an artist is respected, then celebrate their memory.
- Have your facts and statements written in advance if possible - for tailoring and editing only. That's what all the news platforms do.
- The artist may have died but their artwork has not. It can continue to sell and generate income - but only if you are organised!
- Think about how the legacy can continue before rather than after death!
CHECKLISTS For Remembering Respected Artists | Making A Mark
You don't need to wait for an artist to die to have a good long hard think about best to remember them
Taking down the artist's website BEFORE they have died can, in my opinion be a big mistake. It provides a point of reference for communicating with people about:
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