3. What determines the value of a work of art? Anyone who has bought art insurance has wondered at some point how it could be that a picture is worth one hundred dollars and another million. A work of art is worth what the buyer is willing to pay. Each original work is a unique piece and the more people want it, the more its price goes up. But it's not as simple as it sounds. In order to evaluate the art correctly, it is necessary to take into account a lot of information, as much academic as of the market of the current art and of the artist, as well as of the work.
The price of art can vary depending on who and how you are selling it. The fair value of a work is what they call "fair market value". This value is what a work must cost when it is going to be bought or sold by two parties who are willing to do it without any obligation, knowing well the information available in relation to the value of that work. To determine this value, current markets are investigated, including auctions, galleries and private markets. Several elements such as artist, authenticity, theme, medium, condition, size, quality, style, date, history, rarity and novelty are taken into consideration. Let's look at each of these factors more thoroughly.
The Artist: It is the main thing when determining the value of a work. First, they review their sales trajectory and there are almost always similar works that are used as reference prices. You have to understand that there are different categories of
Furthermore, he considers secondary sources in interpreting and analyzing the different artists’ paintings. Baxandall examines the importance of contracts, where marketing negotiations are made between an artist and their client. This includes detailed aspects in the content of the painting, the quantity and quality of materials used in the painting and the cost for labor in making the piece. He argues that although a painting is convincing and strong, the painting could, however, be reduced to nothing more than a constructional argument between the buyer and the seller. This is done by explaining the mechanics through which the Renaissance artists went about to develop their talent. A painting in Italy during that period resulted in a social relationship between the painter, who produced the picture, and the client, who provided the funding and ultimately used the artwork. He clearly suggests that the great materials and effort placed into an art piece provide the groundwork for an
Artwork is a unique commodity. It is easily identifiable, and thus, subsequent purchasers may initially succeed in concealing stolen artwork for some time. Eventually, the artwork is likely to resurface. This resurfacing often gives rise to claims to the work and disputes over its ownership. Sentiment is often the driving force behind Jewish survivors and families of
In a world that has become immune to accepting all types of art, Marya Mannes believes we have lost our standards and ability to identify something as “good” or “bad”. In her essay, “How Do You Know It’s Good”, she discusses society’s tendency to accept everything out of fear of wrongly labelling something as being good or bad. She touches on various criteria to judge art, such as the artist’s purpose, skill and craftsmanship, originality, timelessness, as well as unity within a piece rather than chaos. She says that an individual must decide if something is good “on the basis of instinct, experience, and association” (Mannes). I believe that by using standards and the process of association, we will be able to judge what makes an art piece good in comparison to others. However, Mannes forces me to consider the difference between what may be appealing versus what is actually good, and when deciding which art we should accept, which is truly more important. I believe that “good” and “bad” are two ends of a large, subjective spectrum of grey area. It is possible for a piece of art to be good in some areas and bad in others, and if something does not live up to all of our standards, it does not necessarily mean it should be dismissed. Thus, I believe my personal standards for judging art are based on which my standards are largely based on the personal reaction evoked from a piece of art. Though I agree with Mannes’ standards to an extent, I believe that certain standards, such as evoking a personal response, can be more telling of if a piece of art is good as opposed to its timelessness, or the level of experience of an artist in his/her craft.
When most people think about art, the first thing to come to mind would usually be paintings that are hung up in a museum. Unless you really understand the value of art you may not believe me when I say the value of art is essential to the well being of free individuals. This idea can be supported by Bell Hooks story named “ Art On My Mind”.
Prices are established through the value of an item. Yet, who and what determines which piece of art is better than another? Are prices determined through a group of people or by a single person? What happens when an individual walks by an artwork and thinks that it is not worth the price it is given? I have always wondered why ripped shoes or squares on a canvas amount to hundreds of dollars.
Just as other works that reflect art, pieces in the category of fine arts serve the important message of passing certain messages or portraying a special feeling towards a particular person, function or activity. At times due to the nature of a particular work, it can become so valuable that its viewers cannot place a price on it. It is not the nature or texture of an art that qualifies it, but the appreciation by those who look at it (Lewis & Lewis, 2008).
The world of art is plagued by forgeries. In the case of some artists, such as Vermeer, there are often nearly as many fakes out there as there are genuine pieces. The infamous forger Han van Meegeren was known to have made at least 11 forged Vermeer’s that were accepted as genuine until his arrest in the 1940’s (Wynne, 257). Wolfgang Beltracchi made millions selling pieces that his wife claimed to have inherited from an uncle, telling brokers, art historians, and museums that the pieces were rare works, previously unseen. In actuality, Beltracchi was using modern techniques to make paintings in the style of 20th century masters (Birkenstock, Beltracchi). These are genuine criminals, no different than people who scam the elderly via email or
The two works of art that I have chosen to analyze are 1) Jordan Casteel. Miles and JoJo. 2014. Oil on canvas, 54” x 72” and 2) Aaron Fowler. He Was. 2015. Mixed media, 134” x 165” x 108”. The themes that these works of art represent in regards to the exhibit are love, family, and pain. However, they also fall into other thematic categories. The main theme that seems to apply to both “Miles and JoJo” and “He Was” is Human Experience. Additionally, these arts differ in some ways.
Art is all around us. There are many different forms of art. It can be something created, captured, or it can be already existent. Not a single person is to say what makes something art because there is a different definition for everyone. However, there are a couple factors that come into mind whenever someone decides to declare something as art. In this essay I will be comparing and contrasting four different pieces of art. I will be discussing each art piece’s form, time period of creation, intention or purpose, and value. These four pieces of art are Michelangelo’s Pieta, Fountain by Marcel Duchamp, Mark Rothko’s No.61, and the “Oyster Dress” by Alexander McQueen. These works of art come in all different shapes and sizes but they are valued
The assignment will require you to explore several website to learn more about their efforts, examine one case of art theft and identify why art is so valuable. Prepare a five paragraph essay citing at least two sources.
Throughout history, art has caused wars and forged alliances. In modern times, cultural treasures are being sorted into place after much misplacement. Restitution/repatriation, the act of returning cultural treasures to their rightful owners or nation of origin, often ensues difficult legal decisions, but remains a moral necessity. This act of returning cultural treasures, grows more common due to the media’s interest or publicized legal battles. The movie “The Woman in Gold,” involving Gustav Klimt’s painting of Adele Bloch-Bauer, is an example of the influence it has on media.
In contrast to the findings that artwork is a profitable investment comparing to conventional financial assets, a number of academic studies address the issue of art price movement over time
The Mona Lisa, 1503 - 1506, painted on poplar wood (77 x 53cm) with oil paint.
In the 1988, one year after Black Monday when Don Jones Industrial Average fell nearly 23 percent in a single day, Art & Auction the international art market journal published its annual edition with the troubling headline: “Is Corporate Collecting Dead?”. Almost 20 years later, the financial crisis made hundreds of bankers lose their jobs, and the image of people moving out their offices can still be recalled even today, and the same question aroused again. The same questions may appear again and again in the future, but as an essential part of world of art collecting, corporate collecting won’t die in the eyes of most people in the field.
of art as a finished product, signed by the artist and authenticated by the art market,