Applying hedonic regression technique to slave transactions data, this articleestimates prices of Korean slaves from 1678-1889. Female and male slaveprices followed an inverted U-shaped age pattern reaching peaks in theirtwenties and thirties, respectively, with female slaves being more expensivethan male slaves. Nominal slave prices tended to fall until around 1740 andthen to rise, a pattern also found in grain and land prices and consistent witha trend in money supply. Slave prices as standardized by rice prices tended tofall in the eighteenth and nineteenth centuries, which indicates decliningmarginal productivity of labor.