Tuesday, September 15, 2015

The Value Of ART

The question often comes up regarding the value of art. Not just the price, but the impact that this work may carry. I am a lover of words. They like numbers have never been easy for me but I work hard to move past the roadblocks towards understanding.

So, I looked up the word "value" according to Merriam-Webster: Value - "a fair return or equivalent in goods, services, or money for something exchanged." "the monetary worth of something market price." I took it a little further, related words, verb - hold in high regards - adore - admire - respect - judge - appraise and estimate. Related words, noun - amount - body - matter. Additional synonyms - profit - cost, antonyms - detriment and disadvantage.

I thought these words worked  well to understand how an artist has to approach pricing and selling their art. Selling art in galleries or shows the artist immediate takes a 50% loss in profit. Most shows have entree fees and take commission. Plus, to get into a show the work is judged, the gallery owner estimates it value, the monetary worth of your work to them. This is the disadvantage part of being a shy artist. It is not easy to have your work looked at purely from its appraised price.

How does an artist price their work, gently. Looking at what is currently selling in galleries. Works that are in the same body of works as our own. Estimating the fair return on goods, the cost of materials, the space the work is created, documenting works, submitting portfolios. Just like any small business we have to consider the bottom line. Yet there is more than money.

Art is an emotional connection.. Value is making art, making someone happy that each  day they wake up see and adore the goods they have exchanged for money.. I love knowing the home my art goes to live in, it allows me to take that value to a personal level, valuing myself and my work. Not a monetary value, one of respect.  

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