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4 Facts You Never Knew About the Art Market

What makes artwork and collections valuable to customers? In this article, we will explore the name of the artist, condition of the work, verification of the piece, and subject matter. All these factors are important in determining the value of the artwork. Art appraisers can help you determine the worth of a painting, sculpture, or another piece of art, as they are trained in the process.

Here are four facts you never knew about the art market pertaining to how an art appraiser determines value.

Art Must Be Verified

First, the piece must be verified by the appraiser. Artwork by an artist that is still living is the easiest to prove authentic. Some art appraisers have a lab where they check art for validity. When proper documentation is not available, testing in a lab can often help with verifying artwork. This is important due to so many forgeries in the world. It is recommended you do not buy an expensive piece without verifying it with a reputable appraiser. Most art collectors will not take you seriously unless you have the work verified.

They Start With the Name of the Artist and the Piece

Well-known artists that are current or from the past can command big money. Many collectors want to find work that will increase in value in the future. The name of the artist can determine the price range the piece may be valued at. The condition of art will determine its value. Is it rated as poor, fair, good, or excellent? The condition is often the first thing to be accessed by the art appraisers. It will determine the price that you can sell it for and what it is worth. Keep in mind that restoration and changes can bring the value down when not done by a professional.

The Subject Of the Artwork or Piece Creates Value

The subject of the piece is another important way to assess the value. The artist or theme may have a large collector’s base and appeal to many collectors. A rare painting and piece of artwork is more valuable than a common piece by an unknown artist.

The age of the piece and the technique the artist used will determine the value. An art piece from the 18th century by a famous artist will be worth more than a local artist. Specific religious themes, portraits, impressionism, and controversial subjects may be worth more and draw a larger audience. Yet, modern art themes sell well too depending on the theme and the artist.

The Current Art Market Determines Value

The current market will determine the value of the art piece or collection you purchase. Over 53% of art collections have over 500 pieces of art. An art appraiser will tell you that value may coincide with current trends or the popularity of the artist. The art market will often be determined by new groups that are collecting and themes that have become popular. Research the market and learn the trends before investing.

When you look for art appraisers, seek established businesses with clients where you can check their references and validate their credentials. Always validate the work that you want to buy. To learn more, contact A.A. Fine Art today.