When exploring a museum or gallery, have you ever secretly wondered why certain works of art are far more valuable than others?
It’s easy to say that it’s a matter of taste, however, there are a number of important factors to look for when valuing works of art. To be clear, we’re talking about the monetary, market value of art.
The artist is the most important factor to look at appraising art. Looking at history it’s easy to see that some artists were more important than others and therefore their works will have more value than others. The prolificity of the artist affects the value as well.
2. CERTIFICATE OF AUTHENTICITY
Sometimes authenticating a work can be as easy as asking the artist, or as difficult as subjecting the work to lab tests, but in either case, documentation is crucial.
Although it’s a matter of taste to some degree, certain subjects will generally sell better than others, therefore increasing the value. For example, a female nude is generally more interesting to buyers than a portrait of an old man.
Restorations of any kind will decrease the value of art, in fact, some collectors will only pursue un-restored works.
Provenance is key! The stronger the provenance the better obviously.
Size matters in art. Not to say that bigger is always better, however, it does represent a certain level of skill that often adds value to a work.
Technique definitely affects the value of art. Is it an original hand painted work? Or a very rare photographic process for example? These will most certainly add value.
This factor does not apply to original painting, however in photography for example, or with any other technique where reproductions can be made, the edition influences the value of the work.
Every artist has created bad works and good works. As with most other things, the higher the quality of the work, the more valuable it will be.
Finally, the market affects the value of all artworks. You may be in possession of a beautiful work of art, but if nobody’s interested in buying it, unfortunately, it doesn’t hold much monetary value.