Tag: art valuation

Andy Warhol, 20 Pink Mao's. Synthetic polymer and silkscreen ink on canvas, 99.7 x 96.8 cm, 1979. Price est.: £4,000,000 - 6,000,000 Sold for: £4,741,000 at Phillips.

How to Value Art: A Simple Explanation

Art market is an economical model with more variants than just supply and demand. In this hybrid prediction market, numerous different cultural parameters, people and institutions determine an artwork’s price. Like money, art has a very small intrinsic value. Human stipulation and declaration create and sustain its commercial value. Understanding how […]