diff --git a/include/boost/python/converter/shared_ptr_to_python.hpp b/include/boost/python/converter/shared_ptr_to_python.hpp
index 0002fa91..ac89aad0 100644
--- a/include/boost/python/converter/shared_ptr_to_python.hpp
+++ b/include/boost/python/converter/shared_ptr_to_python.hpp
@@ -15,7 +15,9 @@ namespace boost { namespace python { namespace converter {
 template <class T>
 PyObject* shared_ptr_to_python(shared_ptr<T> const& x)
 {
-    if (shared_ptr_deleter* d = boost::get_deleter<shared_ptr_deleter>(x))
+    if (!x)
+        return python::detail::none();
+    else if (shared_ptr_deleter* d = boost::get_deleter<shared_ptr_deleter>(x))
         return incref(d->owner.get());
     else
         return converter::registered<shared_ptr<T> const&>::converters.to_python(&x);