Footnote on the subject of value and worth and pricing your artwork …
… in another example of perfect timing, artist Helen Dearnley posted an article on FB about pricing artwork. I’d just started this blog post when it came through. The section on cultural, emotional and monetary value is of particular relevance to me when it comes to pricing my artwork and there’s a lot that resonates. How do you put a price on work that is composed primarily of found objects?
Historians studying past cultures use several ways to come up with a theory of how a particular civilization existed. Written text, archaeological evidence, stories passed down through generations, and the artwork of that time are often indicators. Artists have, over thousands of years, provided a lasting record of events, beliefs, sights, and emotions. We continue to do so and the work you buy has cultural significance as a result. As well, when you buy an original piece of art, you are not just buying any old object like a shoe. Granted, one could argue, a shoe has a purpose – I need it to protect my foot. But once that shoe is worn out and tossed, there is nothing left – no personal connection at all. The opposite is true of original art. Before you buy a piece there is an emotional connection to it – maybe you have been to that location and had a great time there, or you love elephants, or that bike looks like one you owned as a kid etc. Some people find emotion in simply connecting with the artist themselves and consider the work made by that persons hands a token of that connection. Hard to put a price on that. In any case, an original work of art has something that many costly items do not – lasting value. As a society we spend millions on extracurricular vehicles, electronics, computers, clothing etc. – none of which will be there when you have grandchildren. Original art increases in value over time, and especially so if the artist is successful in their career. It can be a lucrative investment if you are a collector, or simply a treasure that you wish to pass down to someone in your will.
The rest of the article can be read here: