Embedded Files
the commerical value of What makes a specific work of art valuable?
the commerical value of What makes a specific work of art valuable?
Looking at these top selling artworks, what do they have in common?What can we learn about our taste in art and what we value?
This unit aims to explore the world of art through the lens of its commercial value. We will explore the many ways that artists can predict the trends in the market, make sense of the seller-buyer relationship and look at art as a commodity.
To learn more about the highest selling artworks at auction, explore this video link: https://www.youtube.com/watch?v=8c5MlBcWaVY.
20th C. ARTISTS EXPLORED IN THIS UNIT:
- Mark Rothko b: 1903 - Dvinsk, Russian Empire; d: 1970
- Yayoi Kusama b: 1929 Nagano, Japan
- Damien Hirst b: 1965 - Bristol, England
- Jeff Koons b: 1955 - York, Pennsylvania
- Gerhard Richter b: 1932 - Dresden, Germany
- Joan Mitchell b: 1925 - Chicago, Illinois; d: 1992
- Maurizio Cattelan b: 1960 - Padua, Italy
- Jackson Pollock b: 1912 - Cody, Wyoming; d: 1956
- Willem de Kooning b: 1904 - Rotterdam, The Netherlands; d: 1997
- Andy Warhol b: 1928 - Pittsburgh, Pennsylvania; d: 1987
KEY MOVEMENTS EXPLORED IN THIS UNIT
Auction debates
Auction debates
Arianna vs. Eugenie (de Kooning) Arianna vs. Clara (Rothko) Arianna vs. Felicie (Richter) Arianna vs. Vale (Pollock)Valeria vs. Eugenie (Koons)Valeria vs. Felicie (Mitchell) Valeria vs. Clara (Kusama) Eugenie vs. Felicie (Hirst) Eugenie vs. Clara (Cattelan) Felicie vs. Clara (Warhol)
Auction type
Auction type
A; What should the price be?A; What should the price be?B; Is the price too high or too low?B; Is the price too high or too low?A; What should the price be?A; What should the price be?B; Is the price too high or too low?B; Is the price too high or too low?B; Is the price too high or too low?A; What should the price be?
The Art Market: Part 1 - Auctions
The Art Market: Part 1 - Auctions
What is the role of the auction in the art world?
KEY QUESTION: What is the realtionship between the artists and the means by which they sell their work? How can this impact the value of their work?
$110.7 Million Monet Shatters Auction Records
Most Expensive Paintings ever sold: CLICK HERE
Most Valuable Paintings in Private Collections: CLICK HERE
The formula for selling a million-dollar work of art (2016)
The formula for selling a million-dollar work of art (2016)
How is artwork sold?
KEY QUESTION: What is the relationship between the artist , patron, dealer and collector?
The Art Market: Part 2 - Galleries
The Art Market: Part 2 - Galleries
PROVENANCE
PROVENANCE
"If a rare porcelain vessel belonged to the Qianlong emperor or a flawless diamond was worn around the neck of a duchess or a Rothko was beloved by a Rockefeller – those objects and others with fascinating histories of ownership are imbued with an incalculable allure beyond their intrinsic value. Provenance “is my favorite part,” says Frank Everett of Sotheby’s jewellery. “Who wore it, when did she wear it, how did she wear it, how often did she wear it. This is what we live for, to get the great stories.” Listen to our experts reflect on the interplay between a work’s provenance and the marketplace. Episode 4 ponders ineffable magic of a storied provenance."
MARK ROTHKO
MARK ROTHKO
The Art Market: Part 3 - Patrons
2016
Is the art world fair for all?
KEY QUESTION: Who benefits the most in the art world? Let's analyze some of the trends among buyers and sellers.
Are there issues with EQUITY in the art market? Let's explore the data
HOMEWORK
Watch the following three videos about famous Artists Yayoi Kusama, Jeff Koons and Damian Hurst. Consider how they rose to fame through three unique lenses:
Cultural lense
Movement/media
Reputation and personal life
YAYOI KUSAMA
YAYOI KUSAMA
DAMIEN HIRST
DAMIEN HIRST
JEFF KOONS
JEFF KOONS
The Value of Art: Money, Power, Beauty: Who decides what art is worth?Michael Findlay, November 1, 2012https://news.artnet.com/market/defining-the-value-of-art-27673
Are some artworks worth more than others?
KEY QUESTION: What do all of the highest seeling pieces have in common and what characteristics are the most important to study in order to determine the value?
The Value of Art | Episode 3: Rarity 2016
15 Most Valuable Things In The World
RARITY
RARITY
“Good things are so scarce nowadays,” says Mee-Seen Loong. Which is why nothing generates auction-room fireworks quite like when a once-in-a-lifetime work hits the block. “You cannot really place that value on the estimate, but you know that excitement is inherent in the piece,” adds Loong, a specialist in Chinese art. Rarity can feed the mythology of an object, but factoring scarcity into value is a sophisticated equation".
GERHARD RICHTER
GERHARD RICHTER
The Value of Art | Episode 2: Condition
CONDITION
CONDITION
"Yes, the paint might be cracking on the surface of a canvas, but is that a signature feature of the artist’s work, or a sign of damage? Only experts like the seasoned team at Sotheby’s can correctly assess a work’s physical state and understand how condition impacts value. “Some people might want their Dutch landscape to look like it’s been sitting over a smoky wood fire for the last century,” says Old Masters Paintings specialist Jonquil O’Reilly. But as Episode 2 reveals, “perfection” is a nuanced matter".
JOAN MITCHELL
JOAN MITCHELL
The Value of Art | Episode 1: Authenticity 2016
The $150,000 Banana
2020
AUTHENTICITY
AUTHENTICITY
“Authenticity is the soul of the object,” says Chinese works of art expert Nicolas Chow, adding “Anything that is worth something is worth being faked.” In Episode 1, see how Chow and other Sotheby’s specialists identify the true originals. Sometimes consulting an artist’s catalogue raisonné is enough to affirm authenticity, but other pieces require sleuthing for clues that only a seasoned expert would think to sniff out – sometimes quite literally."
MAURIZIO CATTELAN
MAURIZIO CATTELAN
Day 5
Day 5
MEDIA, SIZE & QUALITY
JACKSON POLLOCK
JACKSON POLLOCK
SIZE
SIZE
"Every specialist in Episode 6 agrees: size definitely matters. But not the way you might think. In some categories, diminutive objects can be highly valued – in a Chinese works of art sale, the most expensive pieces will fit into the palm of your hand. But in a category like postwar painting, larger scale works can be highly desirable. Frances Christie of Sotheby’s London cites the example of pioneering British artist Alan Davie, who was introduced to painter Jackson Pollock by art dealer Peggy Guggenheim. “The story goes that Alan Davie learned from Pollock to be confident on a large scale,” Christie explains. Important collectors noticed. Decades later, when one of Davie’s ambitiously scaled works sold for a record price at Sotheby’s, “it showed that actually, size does matter,” says Christie".
The Value of Art | Episode 9: Medium
2016
Why Oil Paint Is So Expensive | So Expensive
2016
MEDIUM
MEDIUM
"No wonder medium is probably the first thing our specialists look at. And while there tends to be an unwritten hierarchy of material, lead by oil-on-canvas for painting and marble for sculpture, some artist’s ideas might translate most brilliantly in pastel on paper or lithography."
Willem de Kooning
Willem de Kooning
“A great Andy Warhol painting from 1963 is like a Chanel suit – it never goes out of style,” explains contemporary art expert Meredith Kirk. Some works transcend their time; many soon fall out of favour, while others take a generation to gain appreciation. Everyone tries to bet on what’s coming next, but how do you know? In Episode 7, Sotheby’s specialists provide guidance for navigating the unpredictable landscape of trends by embracing one core principle. Watch the video to discover the secret.
FASHION/TRENDS/EXPOSURE
FASHION/TRENDS/EXPOSURE
ANDY WARHOL
ANDY WARHOL
EXTRA RESOURCES FOR CURIOUS MINDS
EXTRA RESOURCES FOR CURIOUS MINDS
The Economics Of The Art Market: Why This Painting Isn't Worth $450 Million
2020
The Art Market is a Scam (And Rich People Run It)
2021
BBC History of Art in Three Colours 2of3 - BLUE
2015
How Two Companies Dominate The $67 Billion Art World
2019
FAMOUS COLLECTORS
FAMOUS COLLECTORS
HOLLYWOOD’S TOP 10 ART COLLECTOR
https://www.cnbc.com/2015/04/28/hollywoods-top-10-art-collectors.html
MAJOR COLLECTORS
MAJOR COLLECTORS
Otto Naumann
Otto Naumann is not only an esteemed art dealer, but also an art historian and voracious collector. Featuring European paintings from the 16th to the 19th centuries, his impressive personal collection will be offered on 31 January 2018 in New York.
Barbara and Morton Mandel
Barbara and Morton Mandel recount their journey as passionate collectors of 20th and 21st-century art. Throughout their lives, the Mandels have acquired examples by Modern and Post War masters – from Pablo Picasso to Donald Judd. The collection’s breadth attests to the couple’s dedication to selecting only great works.
The Nahmad brothers
The Nahmad brothers own over $9 million worth of Picasso paintings alone, and yet they wouldn’t know Picasso if he stared them in the face.
Page updated
Google Sites
Report abuse