"The masterpiece should appear as the flower to
perfect in its bud as in its bloom
without no reason to explain its presence
no mission to fulfill"
James McNeill Whistler
To arrive at a specific monetary value involves
collecting data from multiple sources including:
Museums and commercial
galleries purchases & sales
Art dealers sales
National Galleries purchases
Corporate collectors purchases and sales
World art market purchases activities
Artwork value is created by reputation of the seller and history
essential role of supplying attribution, establishing opinion and
authenticating works of art offered on the World Art market.
These elements may affect an artwork value
Is the item you own,
a museum-quality work of art?
Is the artwork scarce or otherwise?
Is the artwork historically important, it is illustrated /
Has it an influence or has it been influenced?
It is the artwork representative of the artist?
Is the artwork from the period of the artist high-acclaim?
Artwork value may be affected by
the artistic (and or esthetic) merit
the quality and the rarity
the style, title, subject and the condition
the artwork size may not necessary qualify its price or affects
the nature of attribution including a scholar's opinion, as well
as which scholar attributions
valuation is the process of estimating the potential
work of art
opinion, subjective views of cultural value play a part as well.
The basic level of price determination, provides an
estimate of the current market value of a work of art, is to look
through the eyes of an art-speculator without taking into account
the true value of a work of art existence for the pleasure its
and investigation of a work of art has a particular importance,
the artwork and secondary, to value the object.
Art appraisals to a great extent,
on the advice and enthusiasm of a variety of
specialized market analysts, curators, museums and commercial
Artwork value is enhanced by competition for the work, rarity as
well as the current trend, taste, publicity, beliefs and style.
The art market's participants and other
limitations dictate the size of the market and increase the risk
that some items may be over or undervalued.
techniques are, seeing the objects at hand, expert opinions,
investigation, study and the results of tests may also be used,
The purpose of
of an object or entity is to provide contextual and circumstantial
evidence for its
the original production or discovery, by establishing, its history,
especially the sequences of its formal ownership,
and/or places of storage.
operates in an economic model that considers more than
supply & demand,
art are not
It is a hybrid
where artworks are bought and sold for values based not only on a
work's perceived cultural value, but on both, its past monetary
value as well as its predicted future value.
volumes in the
of people and firms participate in buying and selling financial
interests, or the
where measures of raw or primary products are exchanged using
standardized contracts, art market activity largely follows the
demands of a more limited array of private art collectors,
museums, and large corporate interests as the principal market