This study aims to identify factors contributing to price fluctuations in artworks after an artist’s death. With access to information on seller characteristics from a historical dataset of all art auctions that took place in London between 1741 and 1913, we investigate how trading patterns and network effects at auctions affect art sales prices. Following an artist’s death, we capture dynamic effects in sales patterns and find that prices decline by 7%. We attribute this decline on the confluence of non-strategic and strategic effects, first on a frequent lack of access to professional consultation and secondly on changes in trading patterns of art dealers posthumously. Our results highlight the long-term influence of those factors on high valued art.

中文翻译：

---

影响艺术品价格的死后交易模式

本研究旨在确定导致艺术家去世后艺术品价格波动的因素。通过从 1741 年至 1913 年间在伦敦举行的所有艺术品拍卖的历史数据集中获取有关卖家特征的信息，我们研究了拍卖中的交易模式和网络效应如何影响艺术品销售价格。艺术家去世后，我们捕捉到销售模式的动态影响，发现价格下降了 7%。我们将这种下降归因于非战略和战略影响的共同作用，首先是由于经常缺乏专业咨询，其次是艺术品经销商死后交易模式的变化。我们的结果强调了这些因素对高价值艺术的长期影响。