How do you determine a artworks value and how do we value artwork? The art marked is very fluid which makes the prossess of setting a value especially difficult. In what way do one really determine other peoples art work?
Big names like Frida Kahlo will always have elite price tags, but is it really the name that determine the over all value of the art? Sometimes we find people willing to buy really expensive art pieces just because it has belonged to somebody important or because it has an interesting story. And this is often something that pays a roll in the price setting for different art. As well as the technique used and the condition.
Needless to say, the Art market dictates the value and the prices on art today. If the marked goes crazy over an artist, his prices will rise. But value can be so many different things to the individual eye. There is a big change the buyer can see the value from a cultural way but will think about it differently when it comes to willingness to pay. Value is various and shifting and is there for almost impossible to measure, but for the art market the cultural value is necessary for the economic value, and therefore it has to be measured. But who are they really to evaluate the importance of other peoples work when it is so various from eye to eye. Some people claim the artistic value should be based completely on how something looks, while some think the historical factor is more important. But doesn’t all art have value? What does art without value look like? And what happens with the value when the artist dies?
A lot of art work does not get recognized or appreciated until the artist is dead, and therefore the value increases immensely. But hasn’t the value always been the same? I find it weird to think about that after someone dies the value goes up, when in reality the value of the artwork is still very much the same as always, but it seams to have gain a more historical and authentic value. Therefore the demand for the art piece grows, but the value of the art does not really change, since it has really always been there.
It is very difficult for experts to decide the value of an art piece, and maybe that is because art is really not supposed to be measured.
article source:
https://www.widewalls.ch/how-to-value-an-artwork/
Making sense of art and design industries 