BTC is a show where the viewers/readers get to know about the functioning of the art market that takes place Behind The Canvas!
When a collector buys an artwork he is not only buying someone’s extraordinaire skills but also emotions, ideology and or philosophy of someone who is deeply engrossed in a subject since a long time (in the case of senior artists) and a passionate person with a vision (in the case of emerging one’s).
Let’s start with several questions which mostly all first-time buyers face: How are they priced? How would you know what the actual MRP is? How does the pricing of an artwork work in a primary market? How does one decide its pricing? On what basis will you know if we are buying at the right price? What is the process of valuation? How does an artwork is priced before it is exhibited on walls?
Art like other products is seen as a commodity when it comes to the ‘market’. However, this commodity gives you soul experience and a visual delight. A commodity that enhances your life and adds a better living experience be it home or office! Few of the basic norms or parameters that decide the pricing of an artwork are:
Education
Exhibitions
Style and Variation
The Collectors
The Place
Age and Publication
At a macro level, basic pricing is derived from any country’s economic and cultural environment. Speaking at a micro level, generally it is understood that depending on the demand and supply formula the price of an artwork is decided.
Personally, quality remains at the top of my list. I fix the base price calculating the artist’s thought process, devotion for his craft and intention to work in the future. It's all about dedication and love for your art. Only then an artist can grow. When an artist grows his monetary value automatically escalates.
I hope this video was helpful in knowing the process of valuation of an artwork. I hope you start looking at artworks in a different perspective. So, the next time you go and buy a painting check out this video, blog or podcast and take a quick revision!
Till then, Happy Collecting!
Disclaimer:
The mentioned information is derived from my experience of over 16 years in the Indian art market. It is not a fixed formula or mentioned in any art/rule book. The idea is to share the market norms with a wide range of audiences to educate them about art and its market. The parameters mentioned above are in trend in the Indian art market. The said parameters and its application may differ by geographical, economic, social, and cultural factors. The price calculation mentioned is mainly counted for the original painting and should not be considered for the other forms/medium of art.
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Video Editing: Preet Nagarsheth
Audio Editing: Nishi Chaitya Shah
Music Credits: www.bensound.com
Digital: Drashya kuruwa
Produced by: www.adiaryofacurator.com
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