How art is valued
By Coco
If our existence is measured by things we as the human race have accomplished, it could be compared to what I call the fennel theory – where time is the fennel, life would be murky water and the residue but the heart or pure water of our existence is called Art.
It is the only thing that keeps record of our time here on earth - allow me to explain, if we are living in the 21st century and we were to look back to see how far we’ve come, what point of reference would we use? Let’s say fashion – how did people dress back in 1950 and what would you use to see this, what did the renaissance look like, how far has dramatic arts come?
What would you use?
Let’s talk about how fine art is valued,
Estimates or valuation - It the process of determining financial value of an artwork rather than an aesthetic concern. It involves comparing of information or data from various sources such art auction houses, curators, art dealers, gallery owners as well as private or corporate collections. However, it is also done as part of estate valuations, loan collateral, insurance and charity contributions.
Auction price points – This is the last price an artwork sold for at an auction and it would be re-auctioned at that price with a 10% VAT price.
Rarity/historical significance
Prices are also influenced by the quality of the artwork and authenticity.
Among other influences is an artist(s) reputation, has their work been shown in galleries, exhibitions etc.
How to prop up an artist market?
A tough one because there isn’t a specific method but appearances in major gallery’s, literature and academic weight.
Lastly and most importantly, Provenance – the story behind an artwork, where it came from, who owned.
Some day in the future artists and their work won’t be called art anymore – they will be called Time Keepers.
If our existence is measured by things we as the human race have accomplished, it could be compared to what I call the fennel theory – where time is the fennel, life would be murky water and the residue but the heart or pure water of our existence is called Art.
It is the only thing that keeps record of our time here on earth - allow me to explain, if we are living in the 21st century and we were to look back to see how far we’ve come, what point of reference would we use? Let’s say fashion – how did people dress back in 1950 and what would you use to see this, what did the renaissance look like, how far has dramatic arts come?
What would you use?
Let’s talk about how fine art is valued,
Estimates or valuation - It the process of determining financial value of an artwork rather than an aesthetic concern. It involves comparing of information or data from various sources such art auction houses, curators, art dealers, gallery owners as well as private or corporate collections. However, it is also done as part of estate valuations, loan collateral, insurance and charity contributions.
Auction price points – This is the last price an artwork sold for at an auction and it would be re-auctioned at that price with a 10% VAT price.
Rarity/historical significance
Prices are also influenced by the quality of the artwork and authenticity.
Among other influences is an artist(s) reputation, has their work been shown in galleries, exhibitions etc.
How to prop up an artist market?
A tough one because there isn’t a specific method but appearances in major gallery’s, literature and academic weight.
Lastly and most importantly, Provenance – the story behind an artwork, where it came from, who owned.
Some day in the future artists and their work won’t be called art anymore – they will be called Time Keepers.
Comments
Post a Comment