Whether its the passing of an artist, designer, architect, fashion designer, or actor, their life is celebrated with dedicated social media posts, published articles detailing their accomplishments, and even retrospective exhibitions.
Then comes the growth of consumer interest, often marked by an increase in the value of their works, products, or goods.
The death of a creative puts an end to their production, and in a general way, influences the appraisal of the works left to posterity. There is no more speculating on future creations; it's time to evaluate their work in its entirety, which can be difficult in the case of a very prolific artist. The rating of an artist depends on many criteria, and the value of a work (or good) is also subject to several factors, such as the status of the artist in the canon, their different periods of creation, criticism, its representation in galleries or institutions, and finally the rarity of works.
Death also stirs the curiosity of the general public. The recent passing of Karl Lagerfeld, the German fashion designer and photographer known for his creative director roles at Chanel and Fendi rocked the fashion world world. In fact, on Tuesday, February 19, 2019, just hours after the death of the fashion king at the age of 85, Barnebys saw a sharp increase in research on Chanel and Karl Lagerfeld on the secondary market. Between February 18 and 19, "Chanel" had become the 11th most-searched term on Barnebys. With such a change in consumer behavior and increased demand for Chanel products, prices will only increase.
Pontus Silfverstolpe, co-founder of Barnebys, says, “It’s normal to see an increase in the market just after a famous designer has passed away. Even though the biggest boom for fashion and vintage goods took place in 2014, when the Chinese market was at its hungriest, in general we have seen an increasing interest and price for fashion and vintage over the last few years.”
He continued, “In particular, handbags have increased in price as well as jewelry from the biggest fashion houses like Chanel, Hermès, Dior and Gucci.”
As for the demand for fashion and vintage, it comes largely from Asia. Silfverstolpe adds: "The rise in prices has been largely influenced by the demand from the Asian market, especially China, but also by an American and European public increasingly willing to buy online and in the second hand market."
