Anticipating Artistic Success (or, How to Beat the Art Market): Lessons from History
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NBER Working Paper No. 11152
Issued in February 2005
NBER Program(s): LS AP
The recent history of modern art provides clues as to how important artists can be identified before their work becomes generally known. Advanced art has been dominated by conceptual innovators since the late 1950s, and the importance of formal art education in the training of leading artists has also increased during this period. A few schools have been particularly prominent. Auction market records reveal that during the past five decades the Yale School of Art has produced a series of graduates who have achieved great success commercially as well as critically. Recognizing Yale's role can allow collectors to identify important artists before they become widely recognized, and therefore before their early innovative work rises in value.
Published: David Galenson, 2005. "Anticipating Artistic Success," World Economics, World Economics, Economic & Financial Publishing, PO Box 69, Henley-on-Thames, Oxfordshire, United Kingdom, RG9 1GB, vol. 6(2), pages 11-26, April.
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