Artworks: One of the most creative and beautiful of all human creations. This isn’t a newly adapted form but various kinds of arts have been associated with humans for generations now. However, the prices of art pieces are something that has been raising a lot of eyebrows. The majority of people are confused and clueless when it comes to the rates of art.
Those individuals who are oblivion to the art world, understanding that painting with random strokes is worth millions can be heavy news to digest. If you choose to take a closer look then you will be able to fathom other reasons which lead to these steep prices of artworks. This article will help you gain a clear understanding of the contributors to expensive art.
Artistic and emotional charm:
If a painting captivates its audience, it is going to leave an intense mark on them. The pricing of a painting depends immensely on the aesthetics and emotions which are communicated by it. As these feelings are intangible, therefore, they are almost impossible to quantify which restricts in placing a price tag on them.
For instance, if an individual notices a magnificent painting in a virtual gallery, with which he instantly feels strongly connected to, he will go and buy art online without giving a deep thought to other factors. If people are able to generate strong emotional connections and reactions with a painting then, they will be willing to pay any amount as there isn’t any price for emotional contentment.
Art as an investment:
The art industry has been booming in the past few years and due to this more and more people have started investing in the art domain. Whether people choose to buy art online or prefer visiting physically located galleries, they are definitely considering art as an investment alternative. There is a host of different people out there who are willing to purchase art as an investment option rather than a result of their passion or hobby.
In today’s times, banks and other investment dealers have started viewing art as an asset. This factor is a major contributor to the escalated prices of art. People are ready to pay ridiculously high prices because they perceive that artwork for a greater value in the coming times.
When it comes to determining the prices of an art piece, the reputation of its creator matters a lot. People can go to any limit to purchase a painting of status. Even if it is available in a virtual setup, individuals would happily buy art online until the time they are able to get an extremely reputable artwork. For instance, if an artist’s painting was able to procure a huge amount then other pieces of the same artist will automatically be perceived as more valuable.
If an artist has a good reputation in the world of art, any creation of his would have immense value. Picasso might as well be able to have drawn something on a piece of tissue and it would have been worth millions just because it was created by Picasso!
The price of any art piece depends immensely on its historical, artistic and personal importance. Unlike other commodities, in which price depends on the intrinsic value of the commodity being traded, the worth of an artwork depends immensely on other factors. It won’t be wrong to say that art is priced in relation to other art pieces and these other aspects play a critical role in determining its end price.
This is the major reason because of which the art market is so dynamic and unregulated. However, all artworks aren’t that pricey. Thanks to the introduction of technology, a flood of online art galleries have come which is enabling people to buy art online at affordable prices.