How to value contemporary artwork?

There are many criteria to take into account when giving a work of art a certain value. For collectors, isn’t always easy to tell if a piece is on the market at a fair price. How’s that? To value a contemporary artwork professionals of the field study and interpret all the tiles that concur in works of art.

Evaluating modern and contemporary works of Art

The criteria that affect the price of a work of art are numerous and heterogeneous. However, it should not be forgotten that the purchase often includes a strong emotion on the part of the collector.

Evaluating modern and contemporary works of Art
The Anger by Boris Nzebo, 2018

At first glance, it seems that analyzing the results of similar works is enough to hypothesize the right price. The reality is way more tricky. Those data should receive a review by art experts. Experienced art advisors are in fact able to recognize the features determining the value of an artwork.

In particular, understanding art is often a matter of experience. The continuous study and knowledge of the market and works of art are the base point of a conscious approach to acquiring. Even so, the experience is determining.

Main things to consider to value contemporary artwork

It is mistakenly believed that large dimensions equate to large prices. This is not always the case, and a large-scale work or installation does not necessarily mean quality art. Also, large works require large exhibition spaces, and this is a commitment to the buyer.

La Recolta by Francisco Sepulveda, 2016

The first thing to consider to value contemporary artwork is the author. Clearly, there is a difference between emerging and prominent artists. Other features to consider are those of authenticity, provenance, conservation. Also important is understanding if and where the piece was displayed.

Among those listed perhaps the most relevant of the factors is the confirmation of authenticity. In particular, it is essential to know who to contact in order not to incur unaware purchases of works without adequate and correct certification of authenticity.

Embrace by Gérald Chukwuma

Depending on the case, the authentication can be issued by the artist, if living, or by the gallery that represents it, or by the artist’s archive or foundation. In the absence, the heirs have the faculty and recognition of this activity or an expert universally recognized by the market.

The role of the art advisor can be significant in the sale and purchase of works. It allows the collector to approach the world of art with a better wealth of knowledge and greater awareness, sharing specific skills to ensure that a purchase born of passion and emotion can also become a good investment.

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