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Anticipating Artistic Success (or, How to Beat the Art Market): Lessons from History

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  • David W. Galenson

Abstract

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.

Suggested Citation

  • David W. Galenson, 2005. "Anticipating Artistic Success (or, How to Beat the Art Market): Lessons from History," NBER Working Papers 11152, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:11152
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    Cited by:

    1. Laurie Cameron & William N. Goetzmann & Milad Nozari, 2019. "Art and gender: market bias or selection bias?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 43(2), pages 279-307, June.

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    JEL classification:

    • J4 - Labor and Demographic Economics - - Particular Labor Markets

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