Many of us who own an artwork would like to know its market value. My job is to help buyers, sellers, artists and collectors understanding the value of their artistic assets.
Have you ever been scared of walking into an art gallery because of the high prices?
There’s a solution called “due diligence”: the method used by companies in assessing critical issues underlying negotiations, has also been applied to the art market. We can be sure of the fair market value of artworks by reducing information asymmetries, together with the associated risks.
To price an artwork, authenticity and state of conservation aren’t enough: there are many more steps. Presence in the author’s catalogue raisonné, exhibition history, contacts with foundations and archival research are other aspects to explore. Once a starting point has been determined, then one can concentrate on artworks’ promotion to increase their value.