“The value of every painting increases whenever the artist dies.”
The above mentioned statement is undoubtedly one of the most common statements that every art enthusiast new or experienced have been told while they buy paintings online or offline. Nevertheless, there are many people whose greedy minds do nothing rather than seeking their monetary profits in every place they invest their money in.
This is what artists tell the novice buyers to convince them into buying a particular painting. Well! How true or false this statement is, you will get to know in this blog further.
In most cases, the price of the paintings does rise, given that the artist is famous enough. It is true that no matter how good the art is, it is not given the importance and attention it truly deserves if it is not being made by a famous and well-known artist.
The owners of art galleries or the resellers, forgers selling paintings through any medium use this statement for convincing people to buy paintings online or offline. Understand, that death is no sign of an immediate hike switch. This is more of a myth which is propagated by the commercial realm of the art world. If you are someone who buys art according to its investment potential then get it straight and clear- the artist’s death has little or no impact on the selling prices of their art.
However, there are certain cases in which the death of an artist can significantly increase the price of their paintings. The price depends on the demand slope of his paintings. Clearly, if the paintings of a particular artist are loved by the collectors and are always in demand, the death of the painter would imply that the world will not get to experience any new creation from his end other than the ones he made during his lifetime. Hence, the prices of the paintings are bound to surge high in that case. Moreover, the prices inflate drastically when an artist dies before releasing the paintings he was working on. The paintings are then exhibited in auctions or galleries and are owned by the ones who are the wealthiest.
On the contrary, the prices drop as well in certain situations. For instance, if an artist was the sole promoter of his paintings and had no executors, his family members might release all of his artworks in the market for the purpose of selling which will increase the supply in comparison to the demand. This, in turn, will result in a notable drop in the price of his paintings. Hence, the ones who buy indigenous paintings online or offline will get this at a cheaper price. Another situation that can drop the selling price of paintings after death is the fact that art collectors look up to the more flamboyant and famous artists and if the artist who died didn’t have good sales skills would not have anyone to promote his art after his death. Hence, the price of his paintings falls flat after his death.