How to Calculate the Price of Art Work
A secret stash of art was recently discovered hidden away in Italy.
Image by See-ming Lee 李思明 SML via Flickr
The price of a work of art is often determined not only by the quality of the work itself but by the amount of work that is to push the artists or the work to prominence.
A secret stash of artwork was recently discovered hidden away in Italy. The collection, which has work from artists including Cezanne and Picasso, is valued at 100 million Euros.
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Art appraisal is usually done by an objective professional or team of professionals who consider things like the history of the work, the reputation of the artist who produced the work, where the work was made, what the work symbolizes, the price that work by the artist has been sold for in the past, etc.
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Other things may also be considered, such as the prices set by artists working in similar mediums, the prices set by artists based in the same geographical area and the accomplishments of the artist.
A quick guess at the value of a work of art can be made by comparing it with the recent auction value of a similar piece. This is not going to give an accurate idea of the worth of the artwork. Auctions are attended by people with varying degrees of knowledge of the value of the artwork being shown and sometimes artwork is sold for less than it is worth.
Etchings, engravings, oils and watercolors can all be appraised to determine their value.
As time goes by and artist consistently produces good artwork and sells at a particular price, the monetary value of the artwork that is done by that artist increases.
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