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Art valuation, an art-specific subset of financial valuation, is the process of estimating the market value of works of art. As such, it is more of a financial rather than an aesthetic concern, however, subjective views of cultural value play a part as well.
Three kinds of economic agents determine these values. Specific experts like gallery owners or museum directors use the first, social value. Experts like art historians and art professors use the second, artistic value. Buyers who buy works of art as an investment use the third, the price history and expectations for future price increases.
Colors also have value; for example, yellow has a high value while blue and red have a low value. If you take a black and white picture of a colorful scene, all you are left with are the values. This important element of design, especially in painting and drawing, allows the artist to create the illusion of light through value contrast.
Somewhat in relation to the above, the word art is also used to apply judgments of value, as in such expressions as "that meal was a work of art" (the cook is an artist), or "the art of deception" (the highly attained level of skill of the deceiver is praised). It is this use of the word as a measure of high quality and high value that gives ...
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The works of English playwright William Shakespeare are considered by many to be among the highest achievements in Western art. Artistic merit is the artistic quality or value of any given work of art, music, film, literature, sculpture or painting.
In the art business, the artistic value of a well-executed forgery is irrelevant to a curator concerned with the authenticity of provenance of the original work of art [20] — especially because formally establishing the provenance of a work of art is a question of possibility and probability, rarely of certainty, unless the artist vouches for ...
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