“Second, when quality is hard to judge, there is a Da Vinci Effect, which was first coined in a blog post by Jeff Alworth in 2017. The Da Vinci Effect says that the success of an artist begets more success for that artist. People are willing to pay more for the work of an artist who is already famous. Indeed, there are many examples of pieces of art that dramatically changed in value when experts changed their mind regarding who created it. Consider, for example, the Salvator Mundi, a depiction of Jesus Christ. In 2005, it was sold for less than $10,000. In 2017, a mere twelve years later, it was sold for $450.3 million, the highest price ever for a piece of art. What caused the price to rise so much in such a short time? In the in-between years, art experts became convinced that the painting had been created by Leonardo da Vinci. In other words, the same painting is worth 45,000 times more just because Da Vinci drew it.”