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What Determines the Value of Art

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If you are an artist who’s serious about building a sustainable art career, you must be a creative and an entrepreneur. Well, getting out into a marketplace should require an artist, at the very least, basic business skill and an enthusiasm to jump off the entrepreneur world to sell arts.

Along with the entrepreneurial mind of an artist is a certain list of ideas about what determines the value of art. This would assess how more likely the art you are making would cost in the market.

Perceiving what determines the value of art is equally important for the art collectors. Art collectors are the backbone of the art industry. They are the ones who recognize the value that artists bring to the community. They’re in a position to stir up interest for a certain artist’s oeuvre. Nevertheless, they scrupulously scrutinize all the details that recapitulate the art’s significance.

The real deal is, there’s no intrinsic value for an artwork. Therefrom, human declaration, and stipulation sustain the commercial value. So, what determines the value of art? How come a piece of canvas covered with paint sums up an unbelievably great deal of price?

I’ve quite touched on this topic in my other blog post. But since getting acquainted with what determines the value of art is essential, let us focus on it now. There are actually 13 most important factors to consider with what determines the value of art that art buyers set whether they’re aware or not as well as the other factors that are set by the art’s composition.

Authenticity

The most important thing about what determines the value of art is its authenticity. Authenticity is the artist’s integrity and passion. Well, authenticity doesn’t wear a mask that is why real and authentic masterpieces cost way too higher than the fake and copied ones. Nonetheless, art collectors absolutely prefer authentic works and are more than willing to pay the actual market price in exchange for the realness and uniqueness of the piece.

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Historical Significance

Historical significance plays a great role in what determines the value of art. Take a moment to meditate on the historical significance of Leonardo da Vinci’s “The Last Supper”. The reference historical event of the masterpiece distinctly contributed to its incredible price and fame. Not to mention its rough history of dauntlessly surviving the worldwide II after being coated well with resin and was restored after a hard grind of a two-decade restoration of the mural.

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Provenance

This is documentation that authenticates a particular art piece. It is the story that tells about the famous owner, fortunes made and lost, appraisal, and remarkable epochs of history. A provenance is sometimes considered as equally important as the masterpiece itself. No doubt, provenance adds to what determines the value of art.

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Attribution

When an artwork is attributed to a famous artist, the collector’s perception of it changes, and the value skyrocket. For masterpieces made centuries ago, it’s not always known who actually painted a picture. Through attribution, art collectors were accessed to the assessment of who was the creator of a particular work.

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The Thrill of Auction

Auctioneers know very well where to tickle the art collector’s trigger spot. They’re skilled salesmen who hold the power to raise the price of artwork up and up and up. In an auction house full of millionaires and billionaires, they are the ones playing to the right audience who’s thrill comes from winning. Hence, the soar of value.

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Social Status

Art collection speaks loudly about the societal status of a collector. That is one of the brilliant reasons behind what determines the value of art. Wealthy people tend to spend extravagantly on art to gain social status and feel lavish everywhere they turn.

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Artist’s Popularity

This is the most functional reason why historical artwork appraised way too high than contemporary masterpieces. The artist’s popularity is built over time, which is amusingly true with artists who have died before their works got famous and upmarket.

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Artist’s Story

The life story of an artist plays a great role in what determines the value of art. Perhaps his life captivated the people’s hearts, then his art would surely hit the market. Another instance is when a reputable artist dies, the supply of his works will certainly shrink hence, demand inflation.

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Condition

The work with a better condition should sell for more. The condition of the work of art is its determining value. Savvy buyers look intently for pieces maintaining their condition.

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Medium

Well, canvas typically worth more than paper thus a painting should worth more than a drawing and sketch.

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Typicality

What the artist is typically known about would be his signature on the buyers’ eyes. That is the reason why an artist should carefully consider creating a consistent style and medium and let his audience be familiar with his creations. A niched undeniably artist costs a lot better because collectors tend to get familiarized with what he makes and he expectedly becomes an expert on his craft.

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Color

Purple is referred to as a royalty color and historically, red always costs more.

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Subject

The subject is the main idea of an artwork. It is basically the essence of the piece. There are six main subjects that artists have been using throughout the century since art has been introduced and known.

Still, life refers to inanimate objects as a center of attraction on a certain piece. Landscapes are natural scenery such as the sea, mountains, and rivers. Nature focused mainly on specific natural elements. Portraiture refers to the focus of a certain individual such as a headshot painting of a person and animal. The abstract is a work of art that perfectly defines the freedom, creativity, and artistry of arts through lines, whisks, and pouring.

The subject of the painting influences greatly its pricing and value. Won’t you agree that the painting of a beautiful and notably seductive woman worth more than that of a man and an animal? When talking about events as a subject, historical and national modern events tend to be worth a lot higher than the local and ordinary events.

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Why is knowing what determines the value of art important?

As an artist, you dedicate your blood and soul when you create a masterpiece. There are instances when a piece takes half of your life to finish. That is why you need to be familiar with the external factors that can make your work valuable apart from your skill, talent, and imagination. Invest in high-quality materials, learn unique styles, choose premium mediums, and be authentic.

When you create a masterpiece, make sure your passion gives back your investment. You can start your art career by personally sharing the word and start selling your works. If you have a hard time putting up your own store, don’t fret. Many large art platforms cater to a globally competitive art buying and selling service such as ArtRoom24. Partnering with such platforms will ensure you with a good start and stabilized marketing method. You just need to register, set-up your store, and be creative as you are ought to be.

As an art collector, it is really essential to know what determines the value of art. The art collection is a lavish obsession, so you need to go over deep scrutiny on a piece that caught your attention before spending thousands and even millions of bucks on it. I hope this guide finds you well so the next time you feel the urge to add up another piece in your collection, you’d pick up the best.

ArtRoom24 is a globally competitive art selling platform. With hundreds of authentic contemporary pieces, you can never go wrong when you take a virtual tour of our gallery. All artwork is diverse, genuine, and available.

What Determines the Value of Art

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