ONE ARTWORK’S VALUE
Knowing one artwork’s value has a fundamental importance to act in the art market, and it is necessary knowing how to reach an estimate of the work we are talking about’s price.
One of the first documents we can refer to is the expertise, which gathers as much information as possible about one piece of art: technique, authenticity, dating, conservation and a precise description in its every part.
When we talk about an expert evaluation, we are meaning an expertise with also the economic evaluation of the artwork.
One first price range it can be calculated analyzing data referred to a sufficient number of transactions, wo it is possible to make a minimum and maximum estimate of the work’s value, comparing it to at least three similar works.
If the artist we are looking at has registered in his career a consistent amount of transactions, it will be necessary to analyze in a deeper way non only his specific artwork, but his whole production, considering exhibitions he had joined, his stylistic path, his main works cataloging.
Fundamental, to make a true and clear estimate, is to know the artist’s coefficient, his auction’s award’s story, the general fluctuation of the market and, more specifically, of the artistic movement he is involved. The only and effective way to get information about an artwork’s estimate is to ask to an art gallery which has already promoted or is still promoting the artist you are interested in, or to ask to curators that have been working in exhibitions the artist has joined.
Another channel could be asking to contemporary art departments of an auction house or consulting individually online data banks that gather marketing trends and auction houses’ results.