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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.
The sale of Vincent van Gogh's Sunflowers was the first time a "modern" (in this case 1888) painting became the record holder. Old master paintings had previously dominated the market. [ 3 ] In contrast, there are currently only nine pre-1875 paintings among the listed top 89, and none created between 1635 and 1874.
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.
The highest known price paid for an artwork by a living artist was for Jasper Johns's 1958 painting Flag. Its 2010 private sale price was estimated to be about US$110 million ($154 million in 2023 dollars). All-time This is a list of highest prices ever paid—at auction or private sale—for an artwork by an artist living at time of sale. Adjusted price (in millions of USD) Original price (in ...
An art auction at Christie's. The art market is the marketplace of buyers and sellers trading in commodities, services, and works of art.. The art market operates in an economic model that considers more than supply and demand; it is a market where art is bought and sold for values based not only on a work's perceived cultural value, but on both its past monetary value as well as its predicted ...
John Wilkins (1927–1991), was an Indian artist whose works have been rated in the league of the greatest by art critics. His paintings are valued highly, and many are in the collections of select art collectors, business houses and Government institutions. Some of his most famous works include Gossip, Sneha- village belle and Market Seller. [5]