IP & Art

10 factors in determining the value of works of art, etc.

1. Authenticity This refers to the face of a work of art, etc. That is, it means the originality or originality of the work.

2. Condition (status of preservation  ) Minor defects are not a big problem. However, depending on the state of preservation, there is a difference in appreciating it, so this is also an important judgment factor. In the case of wine, preservation is particularly important. However, the state of preservation inside and outside must be distinguished.

3. Rarity Put simply, if the demand is high but the supply is low, it is natural for the price to rise.

4. Provenance The origin of the work is also an important factor. A well-known sports car company made a limited edition of 399 cars. However, the company ended up making one more. It was a car for donations to the Pope. It was intended to help the Pope raise charitable donations. Based on this origin, it was inevitable that this car was be sold at a very high price.

5. Historic Importance In particular, historical importance in writing or photography is an important factor in determining price. Of course, the historical significance of the writing or photograph is reflected in the price.

6. Size In general, the size itself may not be a big issue. However, it is true that the larger the size of the work is, the more efforts the artist takes. And in the case of diamonds as a representative example, the price increases by a huge multiple depending on the size.

7. Fashion (fashion or trend) Tastes inevitably change. In fact, as we constantly pursue new tastes, the price calculation will be inevitably different.

8. Subject Matter (symbolism) This can be said to be related to the story or subject the author wants to convey.

9. Media (material or delivery media) Changes in materials or delivery media of a more experimental and innovation in nature have high meaning and affect its pricing.

10. Quality (unique characteristics, quality) The inherent competitiveness of the work  that is difficult to be repeated will naturally affect the pricing.

Sources: sothebys' materials