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What Is the Value of Art?

Posted by on November 19, 2020 in Art and Music with 0 Comments

Art is something that we all enjoy in different ways, some of us may enjoy listening to a certain genre of music, watching movies and television shows, or going to galleries to look at world-renowned art. Therefore, there are many different ways to interpret the value of art that is different for various groups of people. We will be discussing these factors below and answering the question of what is the value of art?

 Sentimental Value.

One of the biggest factors that decide the value of art is how valuable it is to its owner, for example, if it has a lot of sentimental value such as pictures of romantic couples that were taken when a couple was at the beginning of their relationship this will be very valuable to them. Although it will not be as valuable to other people.

Such value will not influence the market value of the art, but it may make it much harder to sell even if you are offering a very good price since for some people it will be priceless due to sentimental value. However, as we stated earlier this sentimental value will not be taken generally into account when it is independently valued.

The only example where sentimental value may increase the value of a piece of art is if it holds sentimental value to a very famous person such as Michael Jackson allowing the art to be memorabilia.

Historical Value.

Art that is historic does not have to be very good or for you to even know who the artist behind it is. Instead, if it is of considerable age such as from the Roman times or prehistoric times. A simple handprint in a cave or dented metal vase could be worth millions just because it is very old.

However, the age is not the main influence that comes into play; it is actually the rarity of the art. Very old art is usually the only or one of the few in the world still left, and many of the old art that is left is likely to not be in great condition.

Another aspect that comes into play is that such art cannot be recreated, although more can be found at an archaeological site it is very unlikely. You are not able to go back into the Roman times and make more Roman art, meaning that the value of art from that period of history for example will continue to maintain a steady value.

Current Trends.

What is the value of art? The truth is that trends play a very big part in the value of a particular form of art. This includes both the trends of the popularity of a particular type of art as well as the artist behind the art. Therefore, for a few years or if you are lucky decades, a particular style of art may be very popular and sought after but eventually, something new will come along that will capture people's attention.

You can learn more about popular art trends on the LeoSystem.art art portal.

Furthermore, with art that is famous because of the artist themselves, there is always the chance that the artist may get embroiled in some kind of controversy that will ruin their reputation and make large groups of people less likely to want to be associated with him by buying in their artwork.

Edition.

The edition of the art is also very important, for example, an award-winning album could be bought very easily and cheaply for around $11. But the first original copy of that album will be many times more expensive, potentially costing millions depending on the album's cultural influence.

Furthermore, in paintings and drawings, there are also editions, many artists will come up with a concept and create it. Then people can pay the artist to reproduce that art, then sign and add the date or edition number.

The original edition is unlikely to be any better from the other editions however collectors may be attracted to its exclusiveness because everyone can own the subsequent editions, but only a finite number of people can own the original. Furthermore, for example with music and movies, often owning the original edition will give you rights to the revenue of the art form.

 Size and Cost of Materials.

Very often overlooked, the size and the cost of the materials that were used to create the artwork are also very important. For example, there is an artwork called ‘My Bed' by Tracey Emin which can be viewed at the Tate museum. The artwork is simply a normal bed that is exhibited along with many other items. This artwork was created by accident when Emin was feeling depressed and stayed in bed for over four days. Emin then decided to put it up on display.

Moreover, you have the famous duo consisting of Bulgarian artist Christo Javacheff and French artist Jeanne Claude who created what is known as environmental installations which are when you use the environment as well as props to create a mesmerizing appearance. Today much of their existing artworks are tourist attractions worth millions with thousands of people viewing and exploring them every single day.

 The Message Behind the Art.

Finally, when asking the question of what is the value of art, we should talk about the message behind the art. A good example of this is Banksy, a British graffiti artist; there are many graffiti artists in the world. For some people, graffiti is a form of vandalism, but Banksy on the other hand is one of the most famous artists from all of Great Britain.

But why is that? It is because Banksy's graffiti artwork addresses key societal problems such as corruption, war, income inequality, and poverty among many other topics. Banksy may not be the best graffiti artist out there, but he is one of the first well known to use graffiti to deliver a deeper message and raise awareness about the difficult topics in our society.

Other examples of this are artwork that promoted the French Revolution that took place at the end of the 18th century leading to the establishment of the First French Republic and the creation of the first modern-day republic. This had a very big impact as it was the inspiration to the creation of republics in many other places around the world such as the United States and Mexico.

Therefore, due to this original artwork for this period will have a lot of inspirational value to people that support such ideas, moreover, it is also a way to support artists that you think are raising awareness about the important topics.

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