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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.
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 ...
The artist either pays a monthly fee or agrees to a commission paid when the work is sold. These are usually non-exclusive and are therefore a risk free opportunity for the artist to sell their work worldwide. They can be found by using search terms such as "original art" or "online art gallery".
It is in the art agent's best interests to sell the works of the artist. The relationship is seen as a win-win for both the artist and the agent. Many professional buyers will only work with an art agent since they can be expected to already understand the business, pricing, and contract negotiation.
UGallery was an early entrant to the business of selling original art online. [14] At the time, many art critics questioned the concept. A 2007 Wall Street Journal article called "the online art marketplace as mottled as a Monet water scene." [15] By 2012, the online art market was valued at $870 million. [16]
As passersby in London admired the latest street art from the world-renowned anonymous artist Banksy, one man was hatching a plan. The piece, known as the Howling Wolf, featured the animal ...