Paintings are some of the most impressive works of art. Some people however have difficulties on how to rate the value of a painting. Currently, there are numerous types of paintings in the market covering different art eras and movements such as Impressionist, Surrealism, and Art Nouveau among others. Among the most popular types of paintings are the oil paintings which have the ability to capture perceptions and imaginations of different people. There are so many works of art today, majority of which are found in galleries and museums all over the world. Unfortunately, many people do not have access to such places where they can experience this work of art. It is a relief though that nowadays many talented artists are selling their pieces to the public. Therefore, it is important that one knows how to value a painting before buying it.
The actual value of a painting is determined by various aspects. Such factors include size, medium, style, creativity and difficulty, prominence of the artist, time, subject matter, emotional attachment and the story. In the recent past, there has been a boost in the sale of fine art. Therefore, quality paintings are on high demand and are fetching the top dollar in the market. The most important aspect that comes to play when deciding the value of a painting is the authenticity of the painting. Authentic and original paintings are of high value as compared to the unauthentic paintings.
Work of art is not a commodity. Therefore, valuing it is not a question of demand and supply as is the case with many commodities in the market. Assigning a dollar value to a painting is about assigning a value to human creativity, which is not easy. The following are dome of the factors that can determine the value of a painting.
Provenance
Provenance is the financial history of a painting. This can be determined by analyzing the documentation on the ownership history of the painting. The provenance of a painting determines its market value, desirability, collectability, and its overall value. It also gives an idea of the origin of the painting. By analyzing the provenance of the painting, it is possible to get some vital information about the painting such as the awards it has won in the past or the books and articles it has been mentioned in.
Physical Characteristics
The value of a painting is also affected by its physical attributes such as the subject matter, the size, color, weight, complexity, cost of materials and the time used to come up with the painting. Other attributes that contribute to the value of a painting are brush strokes, theme and texture.
Condition
With regards to the condition, well conditioned paintings are of greater value. The condition of a painting is basically affected by how well it is maintained. If well maintained, a painting will be in a good condition hence, of great value. The condition may also be affected by blemishes, scratches, cracks and discoloration. It is also necessary to ascertain whether the painting has ever been restored since its creation. The durability of the painting is also a key aspect in determining the value of a painting.
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Personal Capital lets you see all of your accounts in one convenient place. Sign up now for free.Assessing the value of a painting can be a daunting task. However, with these basic guidelines, the process should be easier.
Collecting art isn’t just about the financial value. The value of a painting can also be subjective. Maybe you saw a piece from a small street vendor that spoke to you – it didn’t cost much money and you won’t be able to resell it for a profit, but it moves you in a way that a million-dollar piece of work doesn’t. There’s also the interior design aspect. Sometimes you just need a piece of art that matches the motif of a certain room. Why spend thousands of dollars when you can support a local artist and get an amazing piece of art for a fraction of the price of one of the masters?
I understand that this post is mostly about the financial value of a piece, but I think there are additional ways to value a work of art that could be discussed as well.