Manual The Value of Art

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Contents:

The Worth of a Work of Art - What Determines an Artwork’s Value

The Worth of a Work of Art – What Determines an Artwork’s Value | Widewalls

For many collectors, the main goal is to successfully identify the works of those artists whose value will eventually rise exponentially, but this is a strategy in which a collector must be prepared to miss a lot in order to get just one right.

The Worth of a Work of Art - What Determines an Artwork’s Value

The condition is the first thing that is assessed when you value artwork and it plays a major part in defining the final price of the work. Important factors are any changes to the state, possible restorations, effects of any modifications to the physical integrity of a piece or its visual quality.

If any of these factors are present, the value of the artwork deteriorates at a frightening rate. Needless to say, pristine condition is highly desirable.

So, the golden rule is that you should never, under any circumstances, try to make direct changes to the piece. Just leave it as is and do not risk compromising its value.

The Value of Art

Oftentimes, people are willing to pay more money knowing the piece belonged to a certain important someone or if the artwork was a part of some exciting event. Needless to say, provenance is more important in terms of authentication and lawfulness , but it can play a role of a price booster if the circumstances are right.

The value of arts and culture to people and society.
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What Determines the Value of Art?.

Furthermore, if the earlier prices of an object can be tracked through provenance , these costs can be related to the current market and set additional markers on the price range. Although it may seem a bit odd at first, the subject the work tackles is an important element in art appraisal. Depending on the theme depicted, it is often possible to roughly determine a market, therefore narrowing the possible price range of a piece.

One collector may be drawn to nineteenth-century landscape etchings while another finds value in late twentieth-century color photography.

The Name of the Artist

When we talk about the value of arts and culture to society, we always start with its intrinsic value: how arts and culture can illuminate our inner lives and enrich. “Authenticity is the soul of the object,” says Chinese works of art expert Nicolas Chow, adding “Anything that is worth something is worth being faked.”. In Episode 1, see how Chow and other Sotheby’s specialists identify the true originals. Sometimes consulting an.

Not every piece is interesting for everyone regardless of the artist and the overall state of the piece. It should also be said that artifacts and rare objects are always more desirable than common things, so rarity is also a substantial factor in price determination procedure. Logically, the value often has a lot to do with the technique [2] in which the piece was made. When it comes to contemporary art, market demand may be the most crucial aspect of art valuation. If the market goes crazy about an artist, his prices will take a leap, but constants do tend to fluctuate less.

When it comes to the Western market, many power players influence the market, from the most famous dealers to the art superstars themselves.

New collectors interested in how to value artwork ought to monitor prices in leading auction rooms and at art fairs , tracking similar trends. This will allow them to keep a finger on the pulse of the market and therefore do better in it. Keep in mind that the art market is dynamic and greatly arbitrary, but it is still regulated by more or less measurable determinants — extracting those important bits and turning them into useful information to value artwork is a trait of an experienced collector and an expert appraiser.

The Value of Art - Episode 1: Authenticity

Finally, researching the prices and keeping an eye on auctions and art fairs is surely helpful when you want to value artwork, but for all collectors, finding a trusted appraiser should be a definite must. Remember that self-appraising [3] can be fun but it can also lead you to critical situations as it can give drastically different results than a review by a skilled person.

If they are not a part of an established organization, it would be best to skip them and look elsewhere — the same goes for unassociated art dealers as they regularly bring many risks despite lower prices.

The Worth of a Work of Art – What Determines an Artwork’s Value | Widewalls

The right appraiser will know exactly where and how to market the piece, and their fee will surely pay off in the end. Just keep in mind that various types of art, periods or artists have different specialists, so going to the adequate one is important. Judging the value of an artwork — Image via squarespace.

The value of arts and culture to people and society | Arts Council England.
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All images used for illustrative purposes only. Art Market Elena Martinique. There are still plenty of art magazines and writers writing about art but, with the advent of the internet and the social networks, gone are the days when an art critic could make… or break an artists career with a single article. Interestingly, this vast new electronic medium has allowed for the growth of a new force within the art world… the social network.

Today, there are more opportunities and strategies than ever before for an aspiring artist to be promoted to the art world and collectors. Gallerists and art dealers are still the primary marketing force within the art world. It takes a particular skill to be able to convert such a subjective commodity as art into significant amounts of cash.

Being a successful gallerist takes more than using pure selling skills to sell art to their list of wealthy clients. As important is knowing nurturing an artist to the top of the market is about reputation building. That entails placing their artists works in the proper collections, the appropriate group shows, and the right museums.

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Still collectors are less visible than the other major forces within the art economy. The process of authentication varies depending on the period in which the piece in question was created. The right appraiser will know exactly where and how to market the piece, and their fee will surely pay off in the end. Art dealers naturally take great pains to keep their client lists confidential and many collectors are passive investors, taking advice from dealers as often as acting on their own personal taste. For all of the collectors and enthusiasts, the market numbers come first and they are often all that matters, so any upcoming collector must be aware of the key steps to determining a market value to any artwork if they plan to be successful in their new hobby. With the art market continuing to show strength celebrity artists who make it to the top now command sometimes unbelievable prices for their work.

The challenge for the emerging artist is to gain the attention of the most highly respected gallerists and then convince them that they are worthy of their attention and their efforts. Here, how well the artist has been received and promoted already can have a significant impact on a gallerists decision and can separate one artist from the crowd vying for attention. The challenge is to figure out how to sell the consummate sales pro.

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The key is effective promotion. After all, even the most arrogant gallerist is subject to the effect of peer actions. Self styled leaders in any industry are only satisfied when they are leading the parade and are often more inclined to try to get in front of a parade that appears to have already started than to choose to try to form a brand new parade.

Collectors are the single most important force in the art world. Still collectors are less visible than the other major forces within the art economy. So, how do they decide what to buy and how much to pay? To a large degree, they are influenced by the gallerists they have come to trust. Art dealers naturally take great pains to keep their client lists confidential and many collectors are passive investors, taking advice from dealers as often as acting on their own personal taste. Yet when collectors become personalities, their choices become public statements of their interests.

The more artists can keep themselves in front of art collectors the more likely they are to develop the kind of following that can propel them into the limelight and the value of their art upward exponentially.