Variables and factors experts consider when determining a fair price for a work of art:
Importance of the artist in today's market |
Desirability of subject matter |
Appearance in museum shows, exhibitions, and art literature |
Provenance – record of owners and exhibits since work’s creation |
Authenticity – assuring work is original and not a fake or “school of” |
Current market comparables of artist’s work in public and private sales |
Condition – is work original and pristine or is there damage |
Rarity of the artist’s work |
Size of a work |
Intangibles that add up to that “something special” that makes a good work great |