A new assessment of the efforts by epigones is long due. Literary critics, historians and specialists in philosophy of arts often use the term 'epigone' with the negative connotation to highlight the fact that some forms of artistic production come late in the series of works and do not have much to offer that appears fresh or inventive. At the same time it is obvious that numerous critics have been fascinated by ripe and mature works of art that were made in the latter phases of the popularity of a particular style. It must also be admitted that many great artists are simply born at a time when the dominant style is already mature, and with the talents they possess they cannot help but become late masters in the fields of their activity. Finally, it is a fact that to many specialist the declining phase of certain styles has special attraction for purely esthetic reasons. This explains why the epigone production deserves more attention that is usually accorded to it. This consideration already enjoys some popularity in theory of literature, but in other fields of arts it is largely ignored. This article attempts to stress that late works are by themselves a special genre of artistic production, that that production is fully self-conscious and stands in definable relationships to pioneer works due to the specific temporal continuity between them and the distance to the original masterpieces. Finally, a unique artistic value resides in creative imitations and in the attempts to develop and improve on well known themes. The authoress argues that epigone tendencies are present, paradoxically, even in the avant garde works, which profess to stay clear of it. The key note of her analysis comes from etymology of the word 'epigone', which in Greek meant 'late victory', or perhaps 'long awaited victory'.