507088_Dead Head III, Damien Hirst
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Main reasons to invest
Return potentialđ: An investment of âŹ500 could reach an estimated value of âŹ972 in 4 years.
Cost-to-return ratioâď¸: After deducting 3.2% in annual total costs, your net return could reach 18.1% per year.
The weight of time â: Hirstâs skull works capture a universal human truth: the tension between lifeâs fragility and its value. Dead Head III distils this idea into a simple yet powerful image that resonates across cultures. For many collectors, owning a Hirst skull painting is owning a symbol â a reminder of time, meaning, and the stories we preserve through art. It is both emotionally charged and historically significant.
Description
| Metric | Value |
|---|---|
| Investment Horizon | 2â4 Years |
| Expected CAGR (Balanced) | 18.1% p.a. after fees |
| Ambitious CAGR | 21.8% p.a. after fees |
| Entry Basis | ~24.1% below gallery value |
| Sharpe Ratio | 0.79 (vs. SMI: 0.61) |
| Value at Risk (VaR) | 87.5 % chance to exceed âŹ124,100 after 4 years |
| Standard Deviation | 24.2% |
| Risk Rating | B (7.2/10 - Moderate Risk) |
- 2 â 4 year horizon: Captures medium-term appreciation as the contemporary art market continues its recovery and demand for Hirstâs core motifs strengthens.
- 18.1% CAGR (balanced): Based on a 75% replication of Hirstâs historical CAGR between 2018 and 2022, combined with a 24.1% acquisition discount.
- 21.8% CAGR (optimistic): Reflects stronger market recovery, renewed gallery activity, and continued global demand for skull-themed works.
- ~24.1% entry discount (ante-fees): The purchase price of âŹ124,100 sits siginificantly below the estimated gallery retail value of 145,000 EUR, increasing upside potential and lowering downside risk.
- Sharpe ratio of 0.79: Indicates a solid risk-adjusted return that exceeds the 5-year SMI benchmark of 0.61.
- 87.5% VaR threshold: Suggests a high probability of exceeding âŹ124,100 after 4 years, supporting capital protection.
- Standard deviation (24.2%): Reflects typical volatility for blue-chip contemporary artists with global exposure.
- Risk rating âBâ: Balanced profile with strong cultural relevance, institutional visibility, and favorable entry pricing.
Art has long been collected for its cultural, emotional, and economic value. Works by established contemporary artists offer strong demand, proven market depth, and broad institutional support. Investing in a blue-chip name like Damien Hirst combines financial potential with the appeal of owning a culturally significant artwork, making this category attractive for both new and experienced collectors.
Damien Hirst (b. 1965, Bristol, UK) is one of the most influential and commercially successful artists of his generation.
Hirst studied Fine Art at Goldsmiths College, University of London (1986â1989), where he developed his distinctive artistic language and became a central figure in the emerging Young British Artists (YBAs) movement. During his time there, he organized the seminal student exhibition Freeze (1988), which launched his career and that of several peers. His Goldsmiths years established his reputation for challenging conventions and addressing provocative themes around life, death, and value.
Hirst rose to prominence in the 1990s as a leading YBA, alongside Tracey Emin and Marc Quinn, gaining critical and commercial acclaim for his conceptual and often controversial works. His use of animals suspended in formaldehyde and the diamond-encrusted skull For the Love of God (2007) became icons of contemporary art. In 1995, he won the Turner Prize for his installation Mother and Child Divided, cementing his position as one of Britainâs most important contemporary artists.
Throughout his career, Hirst has demonstrated a remarkable ability to reinvent his practice, creating distinct bodies of work such as the Spots, Spin Paintings, Butterflies, and Skulls. His wide-ranging practice spans installation, sculpture, painting, and drawing.
His most recognized works, including The Physical Impossibility of Death in the Mind of Someone Living (1991) and For the Love of God (2007), have established him as both a cultural phenomenon and a dominant figure in the global art market.
Since 1987, Hirst has held more than 90 solo exhibitions worldwide and participated in over 300 group shows. In 2012, Tate Modern presented a landmark retrospective as part of the Cultural Olympiad,
reaffirming his global significance.
Other major solo exhibitions include the National Archeological Museum, Naples (2004); Rijksmuseum, Amsterdam (2008); Palazzo Vecchio, Florence (2010); Oceanographic Museum, Monaco (2010); the Qatar Museums Authority: Al Riwaq, Doha (2013â2014); Astrup Fearnley Museet, Oslo (2015); Palazzo Grassi and Punta della Dogana, Pinault Collection, Venice (2017); Haifa Museum, Israel (2019); Galleria Borghese, Rome (2021); Fondation Cartier, Paris (2021); the National Art Center, Tokyo (2022); MUCA, Munich (2023); Museo Jumex, Mexico City (2024); and Albertina Modern, Vienna (2025).
Hirstâs work is represented in major international collections, including the British Museum; Tate; the Museum of Modern Art, New York; the Hirshhorn Museum and Sculpture Garden, Washington, D.C.; the Stedelijk Museum, Amsterdam; the Yale Center for British Art; The Broad Collection, Los Angeles; the Victoria and Albert Museum, London; Fondazione Prada, Milan; and Museo Jumex, Mexico City, among many others.
Selected Solo Shows:
⢠2025
âDrawingsâ, Albertina Museum, Vienna, Austria
⢠2024
âThe Civilisation Paintingsâ, Phillips, London, UK
âTo Live Forever (For a While)â, Museo Jumex, Mexico City, Mexico
âThe Light That Shinesâ, Château La Coste, Aix-en-Provence, France
⢠2023
âThe Weight of Thingsâ, Museum of Urban and Contemporary Art (MUCA), Munich, Germany
âWhere the Land Meets the Seaâ, Phillips, London, UK
⢠2022
âThe Currencyâ, Newport Street Gallery in collaboration with HENI, London, UK
âNatural Historyâ, Gagosian, London, UK
âCherry Blossomsâ, The National Art Center, Tokyo, Japan
âMyths, Legends and Monstersâ, Gagosian, Gstaad, Switzerland
âForgiving and Forgettingâ, Gagosian, New York, USA
⢠2021
âHis Own Worst Enemyâ, White Cube, Hong-Kong
âEmergency Paintings, Danger Paintings, Hazard Pictures and Seizuresâ, Gagosian, London, UK
âForgiving and Forgettingâ, Gagosian, Rome, Italy
âCherry Blossomsâ, Fondation Cartier, Paris, France
âArchaeology Now, Galleria Borghese, Rome, Italy
âCathedrals Built on Sandâ, Gagosian, Paris, France
âRelics and Fly Paintingsâ, Gagosian, London, UK
âFact Paintings and Fact Sculptureâ, Gagosian, London, UK
⢠2020
âEnd of a Centuryâ, Newport Street Gallery, London, UK
⢠2019
âMandalasâ, White Cube, London, UK
⢠2018
âColor Space Paintingsâ, Gagosian, New York, USA
âColour Space Paintings and Outdoor Sculpturesâ, Houghton Hall, Norfolk, UK
âThe Veil Paintingsâ, Gagosian, Los Angeles, USA
⢠2017
âVisual Candy and Natural Historyâ, Gagosian, Hong-Kong
âTreasures from the Wreck of the Unbelievableâ, Palazzo Grassi and Punta della Dogana, Venice, Italy
⢠2016
âDamien Hirst: The Last Supperâ, National Gallery of Art, Washington, USA
⢠2015
âDamien Hirstâ, Astrup Fearnley Museet, Oslo, Norway
âLoveâ, Paul Stolper Gallery, London, UK
⢠2014
âBlack Scalpel Cityscapesâ, White Cube, SĂŁo Paulo, Brazil
"Schizophrenogenesis", Paul Stolper Gallery, London, UK
âDamien Hirst: The Psalmsâ, McCabe Fine Art, Stockholm, Sweden
⢠2013
âRelicsâ, Quatar Museumsâ Al Riwaq exhibition space, Doha, Qatar
âEntomology Cabinets and Paintings, Scalpel Blade Paintings and Colour Chartsâ, White Cube, Hong Kong
⢠2012
âTwo Weeks One Summerâ, White Cube, London, UK
âDamien Hirstâ, Tate Modern, London, UK
âUtopiaâ, Paul Stolper Gallery, London, UK
âThe Complete Spot Paintings 1986-2011â, Gagosian â held in simultaneous locations, New York, London, Paris, Los Angeles, Rome, Athens, Geneva and Honk Kong
Selected Group Shows:
⢠2025
âTriple Troubleâ, Newport Street Gallery in collaboration with HENI, London, UK
⢠2024
âLe Monde Comme Il Vaâ, Bourse de Paris â Collection Pinault, Paris, France
âDuane Hanson | Damien Hirstâ, Gagosian, London, UK
⢠2023
âBefore Tomorrow â Astrup Fearnley Museetâ, Astrup Fearnley Museet, Oslo, Norway
âAndy Warhol to Damien Hirst: The Revolution in Printmakingâ, Albertina Modern, Vienna, Austria
âReaching for the Stars: From Maurizio Cattelan to Lynette Yiadom-Boakyeâ, Palazzo Strozzi, Florence, Italy
⢠2022
âTake Care: Art and Medicine: Wanderings through the history of illness and healingâ, Kunsthaus, Zurich, Switzerland
⢠2021
âEssential Schemesâ, Helwaser Gallery, New York, USA
âHong Kong Exchangeâ, Gagosian, Hong-Kong
⢠2020
âLove, Life, Death, and Desire: An Installation of the Centerâs Collectionsâ, Yale Center for British Art (YCBA), New Haven, USA
âWorks On Paper From A Distinguished Private Collectionâ, Acquavella Galleries, Gagosian and Pace Gallery â joint exhibition , New York, USA
⢠2019
âNew Order: Art, Product, Image 1976-95â, Sprueth Magers, London, UK
âA Rebrousse Tempsâ, MusĂŠe Camille Claudel, Nogent-sur-Seine, France
âVisions of the Self: Rembrandt and Nowâ, Gagosian, London, UK
âPost Truth, Fake News & Alternative Factsâ, Haifa Museum, Israel
⢠2018
âCounterpoint: Selections from The Peter Marino Collectionâ, Southampton Arts Center, Southampton, USA
âDime-Store Alchemyâ, The FLAG Art Foundation, New York, USA
âDancing With Myselfâ, Punta della Dogana â Pinault Collection, Venice, Italy
The work, Dead Head III, belongs to a broader body of work in which Hirst explores the universal themes of life, death, and the perception of mortality among the living. Although there is no officially titled sequence of works such as Dead Head I or Dead Head II, this painting is clearly connected to The Dead (2009), a seminal print series comprising thirty-one silkscreen prints of skulls rendered in vivid, contrasting colors. Both Dead Head III and The Dead were created in 2009, reflecting the artistâs sustained engagement with the skull motif during this period.
The skull holds a central place in Hirstâs visual language, serving as one of his most recognizable and enduring symbols. Its recurrence across multiple bodies of workâpaintings, prints, and sculpturesâhas become synonymous with his artistic identity. This recognizability plays a key role in shaping the market appeal of such works, as the motif stands among Hirstâs most iconic and culturally resonant subjects.
Dead Head III combines rarity, cultural relevance, and measurable upside. The strong discount, Hirstâs institutional support, and resilience within his core motifs create an attractive proposition for investors seeking mid-term growth. With validated provenance and a clear data driven case, this asset offers both emotional appeal and strong financial potential.
Expert

M&A Arts represents the leading edge in art and finance, spearheaded by Asher Edelman, the renowned investor and art collector. With an unparalleled experience and extensive relationships in the art world, M&A Arts offers deep knowledge and expertise in the financial aspects of the art market.




