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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.
We peel back the layers of what makes art valuable with Melissa Wolfe, a curator of American art at the renowned St. Louis Art Museum, who believes the value of art is not always determined by ...
Taking inflation into account, the 1962 value would be around US$1010 million in 2023. [4] The earliest sale on the list below (Vase with Fifteen Sunflowers by Vincent van Gogh) is from March 1987; with a price of £24.75 million (£87.9 million in 2023 currency). This sale tripled the previous record, and introduced a new era in top art sales.
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 ...
Larry Shiner has described fine art as "not an essence or a fate but something we have made. Art as we have generally understood it is a European invention barely two hundred years old." [27] Art may be characterized in terms of mimesis (its representation of reality), narrative (storytelling), expression, communication of emotion, or other ...
In December 2014, Peter Lik reportedly sold a photograph titled Phantom to an anonymous bidder for $6.5 million, making it potentially the third highest price paid for a photograph.
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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 ...