The Daily Stat: For Successful Artists, It Matters When You Die

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile JULY 28, 2011 For Successful Artists, It Matters When You Die If successful artists die before the age of about 71 or 72, their paintings and drawings lose value upon their deaths, a reflection of the market's disappointment that no more potentially valuable works will be forthcoming from them. But if they die after that age, their works rise in price, because the disappointment is outweighed by the perception that scarcity will make their oeuvres more valuable. This "death effect" reaches a maximum for deaths at 83 to 88 years and amounts to 5% to 10%, say Heinrich W. Ursprung of the University of Konstanz in Germany and consultant Christian Wiermann. Source: Reputation, Price, and Death: An Empirical Analysis of Art Price Formation Share Today's Stat: FEATURED PRODUCT Harvard ManageMentor Full Access Harvard ManageMentor Managers face countless challenges every day that require immediate solutions and demand a wide range of skills. Build, broaden and refresh your management skills with this comprehensive online resource that addresses your most critical management challenges. Includes 44 individual modules, each with practical advice and immediately applicable tools for dealing with specific management issues. One-year single user license. ADVERTISEMENT Follow the Stat: BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's Must Reads Library Set Guide to Persuasive Presentations Guide to Better Business Writing Guide to Getting the Right Work Done PREVIOUS STATS Rich Parents Withhold Asset Details from Kids Gas Is More Expensive in Poor Neighborhoods People Born in Economic Booms Live Longer China Exempts More from Taxes to Ease Income Gap Many Waitstaffers Say Tips Don't Reward Service Where Your Buttons Come From 96 Minutes of Daily Interruptions Aging of Government Workers Is a Boon for Youth Negative Images Boost Unrelated Memories Fewer Youth Say They'd Work If They Had Plenty of Money Free HBR Interactive issue Download the iPad app HBR Reads, and get your issue with audio and video interviews and multimedia slideshows. Learn more » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "The Daily Stat" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2011 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)