Because of the value of the artwork, we can know about the darkness or lightness of art. Not only that, many people do not know actually what type of asset artworks are. They are not affiliated with any terms regarding artwork’s value. All being well, a perfect theory on how to find the value of artwork can help them to acquire knowledge.
Simultaneously, an illusion of light is seen from a nice value of the artwork. In typical cases, people cannot justify why a painting is worth a million dollars, although there are numerous paintings of less price.
If you think rationally, the art’s condition, artists, subject, provenance, etc. matter a lot to decide the value. Moreover, a newbie buyer will face multiple confusions while purchasing a grand painting for the first time.
All I would say is, throw out your stress because this article will answer all your questions regarding the value of an artwork. So without making any further delay, let us go through the abstract.
How to Find the Value of Artwork
- Find out the beforehand owner
- Knowing about the artist
- Checking out the authenticity
- What type of colors has been used
- Painting’s frame
- What type of medium has been used
Steps to value art
Now we will see the actual steps that will make us easily value art.
Step 1: Research about the Art
The first thing you will need to research is the artist’s output. Well, the price of his paintings will be decided only by considering his output. Other than that, a prolific artist’s work is not so valuable. Alongside, you need to see if there is any duplicate of that certain painting. Whenever a painting comes in great demand, its replicated works tend to be more in the market. So stay alert if the painting is original or not. Contrastingly, prolific artists do not produce valuable arts that can be avoided in times of fixing the value or just a random value.
Step 2: Pinpoint the Artist’s Completed Work
You need to see if the artist’s work has been done during the twilight of his career or even earlier. Also, you will have to consider if the art epitomizes the style of its artist or not. Similarly, do not forget to investigate the artist’s reputation. Other than that, you must see if there are any artist drawings in galleries.
Step 3: Know About the Size
Generally, people appreciate the bigger art size more than those arts that are little in size. All in all, bigger size paintings include a huge level of difficulty, which makes sense to have greater value.
Step 4: Search for the Market Demand
Whenever the price market goes down, you will know about it if different pieces enter the market. Again, when consumers get attracted to those pieces, their price automatically goes up. Comparatively, you shall look at the liquidity as well, i.e. marketability. If the liquidity of an asset is more, it can be sold easily without affecting its price.
Step 5: See the Market Trends
Usually, pricing trends vary related to their products’ demand. Moreover, people’s perception matters in terms of pricing trends. After seeing the market trends, you have to place that art either on a primary market or in a secondary market. Even though an art comes from an auction, you must look for sale certification from it.
Step 6: Reaching at a Final Price
While reaching a final price, glance at other art pieces’ sales prices. Instead of using a single price, use the price range whenever you look at the comparables. From an appraiser’s side, we can see as an example that a sculpture could have a fixed price of $1000. But instead of it, the sculpture is being sold at a range from $800 to $1200.
Step 7: Find Out About the Owner
When an art piece comes from a renowned owner, it gains another degree of value. Now and then, art pieces with no conditions do not carry that much value, whereas a painting of someone famous has value in price and others.
Factors to be Considered While Finding Value of Artwork
Unless you know about the important terms to fix an art’s value, there is no point in having a final decision. To make sure you do not miss out on anything to find value in artwork, I will help you with the below points.
Here are some essential factors you need to consider while finding the value of an artwork.
Artist
When you look at appraising art, you need to consider who its artist is. If you see in history, some artists had a different reputation than ordinary artists. For this reason, such renowned artists sell their paintings in a high range.
Certificate of Authenticity
Although authenticating can be hard or easy sometimes, documentation is crucial every time. In many auctions and fairs, people purchase art without gaining proper knowledge. Henceforth, it becomes possible to fail in determining the right value. So make sure you witnessed the certificate of authenticity before identifying its value.
Subject
The subject matters a lot while finding the value of an artwork. Suppose there is an art of female nude. This art will generally catch people’s eye more than an old man. Likewise, the subject plays a great role in deciding the value of art. Anyways, the subject is not only a matter to be considered. Rather, you should have a glance at all factors of an art.
Condition
Usually, professional restored art is trendier than normal restored art. This type of art owns a great value and is considered to find an artwork’s value. When dealing with a restored art piece, you must consider the way of restoration and how it affects the integrity, structure, and work appearance. Furthermore, the artwork will have a great value if it has been done in bad condition but has been sou.
Provenance
Provenance works like a key to judging the value of art. Similarly, tracing work and ensuring that the work has gained popularity from the catalog can increase its value. Furthermore, artworks command a high price if owned by a famous person itself. As a result, you can easily locate that work in records and get a nice indication value.
Size
It is not like a massive piece conquers a tiny work. But a certain level of skill plays a crucial role in deciding the value of art. Sometimes buyers like to go for a small art piece rather than a massive one. Hence, the size of paint does not matter while deciding its value.
Technique
Nonetheless, the technique is an important term everyone sees to judge an object’s value. In this regard, you can compare two paintings from the same artist rather than comparing two different paintings. As a result, anyone can figure out what technique is different from the paintings.
Edition
In paintings, the term edition is generally applying for reproductive techniques, i.e. not original paintings. So it is inevitable that higher values come from lower editions of paintings. Yet, paintings tend to be more valuable than lithographs since their editions are always up to the mark.
Quality
Not only does art require quality, but also its materials require quality too. On the other hand, high-quality art tends to be more valuable than ordinary art. Hence, we can say the quality of art not only depends on the painting but also its materials.
Market
One thing that affects an art’s value is the market. Again, artworks hold a monetary value only if consumers are interesting in buying them. Nowadays, the art market is booming like a star that leaves no stone unturned in attracting people. Likewise, you need to see if the art is trending or not. Henceforth, you can know that art is demanding.
Fixing value
To find a work’s value, you need to look for an appraiser. Such appraisers are free of cost and tend to train specialists. Evaluating the art piece gives a written statement about what should be the value of art. However, many organizations do not provide appraisals. Instead, they publish a directory for each member, which is not adequate for fixing the value of the artwork.
Determining value
For instance, a famous el greco painting is not an all greco, but a print. Someone who would look at this painting might say, well, if it was the real painting. Or people might ask if there is an el greco. So, how would you determine if it is a real el greco? For this reason, you will have to do a comparison.
Suppose you have a picture of an algreco known as an el greco. From the two pictures, you may find the same qualities and similarities as an el greco. And because of that, you would attribute the picture to el greco b., or they could ascribe it to el greco with a great deal of certainty. This is how you determine the value of a painting. Therefore, you can decide on which basis some paintings are very valuable, and some are not.
Frequently Asked Questions
How Does an Artwork become Valuable?
An artwork’s value can easily determine by its provenance, i.e. to whom the artwork belongs. For example- a big celebrity once used to own a painting, and now this painting has a high demand since it was with a reputed person. In the same way, if a painting comes from a respected gallery or a prominent collector, it will own a nice value throughout.
Can an Art Increase in Value?
Not only do bonds and stocks increase in value, but also art does. Undoubtedly, the cash value of work turns out like a skyrocket if its artist possesses a successful career and increases his work’s quality day by day. Again, the global art market reached over $67 billion, which the annual report of Art Basel has estimated.
How Does the Value of a Painting Increase?
The price of a painting mainly increases for three reasons. The first reason is the increasing perceived worth of art in the marketplace. The second reason is, changing the status of the artist’s status that made the painting. Last but not least, inflation is a major reason for which the price of paintings increases over time.
Do Art Increase in Value?
In general, there is no useful life of a treasured and valuable art piece. Sometimes, the physical condition of art plays a big role in influencing its value. Therefore, you will hardly see a depreciable value of art. Not only that, the depreciable value of artworks is not allowable in any terms.
Final Thoughts
Artworks carry great importance in this world. Similarly, their value, amount, price, range, etc. varies due to their innumerable factors. Hopefully, you got to know what makes paintings and artworks different from each other. Yet, in many auctions and exhibitions, paintings are being sold at a huge price, and those interested in them offer higher prices. Thinking straight, they know why those arts carry so much value. Maybe those arts carry a major reputation, firm materials, or are making by a renowned artist.
Summing up, we all shall experience an art’s history which we will be purchasing. Keeping it aside, random paintings also have certain values worth consideration. Henceforth, have a brief knowledge of artworks to make your thoughts bigger on them.