This isn't a trick question! But it's hard to say what makes one worth ten times the other. The basic answer is that these works are worth whatever someone is willing to pay for them. It probably got a bump from the big sale of Chariot the day before. Going back to that: Chariot is the more famous work.
It is the better work. Here's Felix Salmon , with an explanation I can't top:. The art market has become a world of conspicuous consumption—a hundred-million-dollar sculpture is simply the most ultra-luxe end of the luxury market, a gilded toy to one-up the guest who arrives in a Bugatti. The thing is, these iconic works are really just trophies. The Ganz family seemed to truly love art regardless of money and this passion is probably where the value of art originates in the first place.
As you can see, many arbitrary factors contribute to the value of art, but other, more straightforward things make art valuable, too. Authenticity is a clear indicator of value as copies and prints of an original painting. The condition of the artwork is another obvious indicator and, like the Picasso that Wynn put his elbow through, the value of art decreases significantly when the condition is compromised.
The medium of the artwork also contributes to its value. For example, canvas works are typically worth more than those on paper and paintings are often at higher values than sketches or a print. Sometimes, more nuanced situations cause artwork to garner interest such as the early death of the artist or the subject matter of a painting.
For instance, art depicting beautiful women tend to be sold for higher prices than that of beautiful men. It seems as though all of these factors combine to determine the value of art. Whether in a perfect storm of passion and desire or a calculated risk of business transactions and retribution, art collectors continue to spend millions upon millions each year at art auctions. From the thrill of an auction to popularity contests, perhaps the real answer is what many assert… why does it matter?
What makes art valuable beyond the cost of supplies and labor? We may never truly understand. She lives in Australia and writes about health, fitness, art, and entertainment while sharing her own stories of transition on her personal blog.
What Makes Art Valuable? Are you enjoying this article? Historical significance. Popularity of the artist. Backstory of the artist. Subject matter. Give us feedback. Read Next View. Residence Inn Orlando Lake Nona. GullWing Beach Resort. Belmont Blvd Bed and Breakfast. Residence Inn Los Angeles L. Generally speaking, works on canvas will always sell for more than those on paper. Likewise, paintings will sell for more than a sketch or, of course, a print. What… color? Historically, paintings that contain red , for example, always cost more.
Similarly, artworks of certain subjects tend to sell for more than others. For example, paintings of beautiful women tend to be worth more than paintings of men.
Sunny landscapes tend to win out over dark ones, as do ships in calm seas over ships in a storm. Does it shock? Does it inspire awe? All of this will help the price soar. If you live outside of Canada and the United States, please contact us for international shipping rates. Ok, I got it.
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