You would be surprised to know that there is a big debate among philosophers about the worth/value of art. But hey, while we can't exactly settle their disputes over a cup of coffee, we can sure give you the lowdown on how art gets its value in the real world. 

Forget what you've heard about art valuation being a mystical, haphazard process; there's actually a well-oiled system in place by Art Valuation UK for determining just how much that painting or sculpture is worth.

The three musketeers of valuation

When it comes to valuing fine art, there are three amigos you need to know: Replacement for New Value, Fair Market Value, and Market Cash Value.

1. Replacement for New Value is like your superhero in times of disaster. Let's say your house catches fire, and your art collection turns to ashes. With this approach, your insurance claim would be based on the cost of replacing each lost piece with something similar in today's market.

2. Fair Market Value at Art Dealer UK is all about what's fair game in the art market. It's not about what the painting could sell for in reality, but rather what it should sell for in an ideal world. 

3. Market Cash Value is like Fair Market Value's cool cousin. It's the FMV of an artwork minus any selling costs. This is what you'd pocket if you were to sell the piece in the market today. 

The art of evaluating art

Ever thought about how much that painting hanging on your wall is worth? Well, for art collectors, valuations are like a warm hug for their precious pieces. When valuing art, it's not just about crunching numbers; you've got to get up close and personal with the artwork itself. 

Art can come from two places: the Primary Market and the Secondary Market. The Primary Market is where a piece enters the scene for the first time, usually through a gallery. The Secondary market is when you buy it from any individual.

Who made the art piece?

In the art world, artists are often categorized into three tiers by Art Advice UK: Emerging, Mid-Career, and Established. Emerging Artists are like those fresh-faced rookies just stepping onto the scene. You'll typically find them fresh out of art school, with a small portfolio and maybe a few group exhibitions under their belt.

Mid-career artists are in the sweet spot of their careers. They've built up a body of work, gained some recognition, and probably sold a piece or two at auction. Established Artists are the big shots of the art world

For more information please visit Art Valuation UK and you can also visit our website https://www.artmarketsolutions.co.uk/ or call us at 01462 612268