What makes art valuable?

What makes a painting more valuable than another painting? Is it the demand for it in the art market and how much someone is willing to pay for it?

Starry Night Over the Rhone, 1888, oil on canvas. Van Gogh

Of course there are many reasons why a painting becomes valuable, most expensive paintings were either historically significant themselves, or by a historically significant artist. People want to own a piece of history.

It’s in the name - The price of a painting also depends on name recognition - major museums and art dealers want to have the big names, so very much attention goes to the big few names. Thus, the prices increase.

Steal me - Sometimes, even completely “un-artistic” events, such as someone stealing a painting, may increase its name recognition and thus it’s value. Both “Mona Lisa” and Edvard Munch’s “The Scream” has benefited from being stolen.

The Scream by Edvard Munch, 1893

Famous when dead - It’s strange how a painting can become more valuable after the artist’s death. Generally speaking, the death of an artist increases the rarity of the painting. However, very few artists actually become famous once they’ve died. Van Gogh is possibly the most well-known example. When Van Gogh lived he only sold one painting. He was known as a struggling artist his entire life. Despite finishing almost 900 paintings, he didn’t sell any until someone bought ‘The Red Vineyard’ in Brussels for 400 francs. This was just months before he died. It was after his death that he became much more popular and recognised for his work.

What’s its subject - The subject matter could make all the difference to the price of a work of art. It adds further to the painting’s appeal. Extraordinary as it may seem, the subject of a painting, its colour and even its shape can have a drastic effect on its market value. However, if you have a top-quality painting in great condition by a famous artist, it will sell well, whatever the subject.

Original vs Fake - The world of art, is full of fakes. But is there a way of distinguishing true from false art. The fact is that art is not understood with your common sense but rather with your intuition. It requires a lifetime of learning to understand it. But one cannot fool an art expert (except from some very rare cases).

The famous Mona Lisa, by Leonardo da Vinci, c. 1503–06; in the Louvre, Paris.

The original work, the master piece, is the original, unique work, directly created by the artist. The original work and the hand-signed prints might appreciate in value over time, depending on the fame of the artist and the rarity of the prints.

According to Guinness World Records, the most valuable painting in the world is the Mona Lisa. Undoubtedly, it is the most famous painting in the world, sitting behind bullet-proof glass at the Musée du Louvre in Paris, the small portrait attracts around six million visitors per year.

I have a lot to learn when it comes to art, but I’ve learnt one thing for sure; art is like people, you fall in love with it or you don’t, and if you do then it’s worth every penny.

What do you think about all this? Please do leave your comments below…