The art market concerns ancient and contemporary art. For the authors, it is not simply a matter of exhibiting in museums and galleries. The second objective is to see their paintings all over the world, and this through an auction.
What is an auction?
An auction is the placing on the market of paintings, canvases, statues, etc. on a given date. It is advertised to attract collectors and individuals to attend. For private sales, dealers normally target high-profile personalities.
For an auction, the aim is to sell to the highest bidders, i.e. those who offer the best price. Thus, the first price is often underestimated!
In addition, a charity sale is the sale of a few works where the costs are underestimated compared to normal.
How is the value of a charity estimated?
The price of a work of art depends on several factors. It is in fact the amount of the work at a given time. Here are the various points that will have a direct impact on this value:
- the size
- quality: is it a sculpture, an oil painting, etc.?
- the reputation of the artist and his rating
- the time of creation
- the time of sale
- the market price
- the state of the work
In any case, each work of art is unique and is the fruit of the author’s imagination. Sometimes the canvas takes a long time to sell. It may not interest anyone at the time of the transaction, or its price may have been overestimated.
What is a listed work?
The quotation reflects the value of a work during an auction, mainly for renowned artists. Of course, it can change at any time depending on the other factors mentioned above. In fact, to determine the approximate price of a work, the quotation is necessary. Similarly, it is an official figure that is brought to everyone’s attention.
To be rated, the only condition is to have sold many works at auction. Therefore, the price obtained will be the reference for collectors and buyers. Indeed, it is possible to have a range to facilitate the sale.
Until the painting is sold, the price does not change!