What affects the value of an artwork?

Published on : 06 May 20213 min reading time
Whether you live in Hong Kong, London, New York, or Paris great representatives, collectors, and museum gallery owners always meet every November. This is the time of the fall auctions to exchange and bid on works of art of great value from time to time. In Canada, in Toronto, auctions are often held every November. This is organized mainly by the 3 most famous auction houses in the world.

Estimating the value of art: the real value of a work

The consultants also agree on the sequence that art collectors are particularly looking for quality and rare works. The artist who made the artwork is a decisive factor in the evaluation of the object. However, not all artist’s paintings have the same value. For example, for a Picasso’s work, the price will vary from the blue period to cubism. In this case, an independent consultant and appraiser, explains that other periods are more expressive and eventually more expensive than others. You can have a free estimate of the value of your painting on this link.

Where can you find a more affordable art market?

The artwork that is auctioned in Canada is mainly Canadian, explains an independent art market representative and consultant. This sector of the Canadian art market is certainly not a bargain market, but because Canadians have spent less on art, there are fewer of them. So prices are lower in Canada, she explains. Faced with this situation, art appraisals in this country are cheaper and sometimes free, an independent art consultant appraiser agrees. He says that his clients always want a Picasso, in which case he will never advise them to sell their artworks at an auction house in Canada.

The evolution of the price of artworks

Similar to a building sale, the concrete estimate of artworks, or their fair market values, will be set according to various criteria. It is like the image and size of the surface of a house, the reputation of the artist and the style of the work, the period of its conception, as well as the dates of its construction all determine its value in one way or another. The new restoration of a work of art from time to time will also contribute to increase its worth like a recent home improvement. It all depends on its artistic value.  

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