It’s a well known fact amongst those who collect art that the death of an artist automatically makes their work more valuable. After all, they won’t be making any more of it. As grim as it can be to think about tying someone’s death to an appreciation in value of their work, it turns out that this may also happen in other creative fields as well. For example, the architecture world was shocked recently to learn that Zaha Hadid—a trailblazer and unbelievable talent—had passed away. Does this mean that the buildings she designed are now worth more?
“A Surge in Inquiries”
Keep in mind that not all of Hadid’s work had been finished yet either. She was still hard at work leading up to her death, so there are a number of buildings all over the world that haven’t been completed yet but were designed by the famous architect.
One of these is One Thousand Museum, presented by One Sotheby’s International Realty. Located in Miami—where Hadid kept a residence—One Thousand Museum is a condo building that bears many of Hadid’s hallmarks (if she can be said to have any). It’s a combination of Miami-style glass condos with metal veins running up each side.
At 62 stories high and located right on the beach, the complex was going to get a lot of interest and come at a steep price no matter what. Add Hadid’s name to it and it’s understandable that the price increased a bit more.
However, since Hadid passed away on March 31st, the developers have received a surge of inquiries about the project. It would seem many people either realize this is one of their last chances to own a piece of their favorite architect’s work or—equally likely—investors understand these condos are about to appreciate significantly.
Adding to the potential for One Thousand Museum is that it’s the first high-rise residential building Hadid had done in the Western Hemisphere.
Furthermore, it’s worth thinking about all the designs Hadid either left behind or which hadn’t even reached the development stage yet. You can bet a lot of those are going to get green lighted now, especially if other buildings she designed show that the public is willing to pay more in the wake of her passing.
Whether or not this will happen in Miami—where the condo industry is sort of slow at the moment—is yet to be seen. However, there is a build going on right now in Manhattan of one of Hadid’s designs, so other areas are definitely paying attention as well.
Of course, Hadid didn’t just design residential buildings. Her best known works would almost all be commercial buildings like the Riverside Museum in Scotland, Hungerburgbahn in Innsbruck or the Heydar Aliyev Center in Azerbaijan. It will be interesting to see if her death influences any of the owners to sell to a new bidder.
Hadid’s death represented a huge loss to the international architectural community. However, with her passing, it would make sense that her life’s work will now be considerably more valuable.
To get more information on available units, please contact One Sotheby’s International Realty at (305) 336-0457 or click here to view the site – www.sunnyislesmiamirealestate.com/Downtown-Miami/1000-Museum/