Valuing Art like the Medici’s and Mughal’s
The question of value and how to find the value of artwork is among the most important issues an art collector faces, especially today as the highly fluctuating market took its toll on the way we value art. Different players in the art world use a slightly different approach to access their valuation but it’s no big revelation that at the end of the day values for artworks are subjective, it all depends on the value we attach to it. If there’s a lesson to be learned from the Medici’s, Borgia’s or Akbar it’s that they were more interested in commissioning art through newly talented artists as a divine act for future generations to come as compared to collecting and paying high values for works done a long time before in the human history; and that is exactly how they became the best-known patrons of art. Keeping that in mind, Basilica Art House settled with a unique way of evaluating art that doesn’t downplay the value of art made in our times. We want to make sure that the artists and artworks of modern times are valued enough to bring about an art revolution again. New forms of technological and Global changes make way for new ideas and concepts of art forms which can be commissioned and left behind as our legacy for future generations. To make sure that we further encourage the modern-day art forms and value art pieces that display elements of internal depth and uniqueness here are our Alchemical elements of art valuation:
Element 1: Art Form
Any form of art is a means of creative expression. A different form of art embraces a wide variety of movements, theories, and attitudes. These varieties of variables bring meaning to the art, making it more than just a showpiece. It becomes a sort of like the stone on which God gives us the commandments; somehow reflecting the ideals and principles of the world to itself. In art, meaning can be subjective and that we leave on the viewers however as a part of analyzing art we can vote on how some artworks display the ideas with empirical clarity as compared to the others. Modernistic art for instance embraces a wide variety of movements, theories, and attitudes whose modernism resides particularly in a tendency to reject traditional, historical, or academic forms and conventions in an effort to create an art more in keeping with changed social, economic, and intellectual conditions. Analyzing these “meanings” and its effects is an integral part of our valuation.
Element 2: Vehicle of Perceptions and Techniques
The second important part is the “Vehicle of Perception and Techniques”. Technique definitely affects the value of art. Is it an original hand-painted work? Or a very rare photographic process for example? These will most certainly add value. It’s also important to examine works within the same medium to help determine the value. Comparing two paintings by the same artist may give a better indication of value than comparing a painting and a print for example, as one will have little to no effect on the value of the other. Modern times give us the option to display art in different ways instead of the traditional canvas inside a frame. New forms of art vehicles such as Digital Art are now slowly taking over the art world. A lot of art critics seem to look at this in a negative light, but we think otherwise considering that these new vehicles of art perception bring with them new opportunities and a gateway to new worlds. Digital art for example is a new type of canvas. Just picture, we had cloth canvases, and now we have digital canvases. And the biggest critic for Digital Art is that “It’s just a JPG”. Well, it is but that JPG, again can be projected on the side of any building. There can be an app so you can zoom in. It can take a bunch of different form factors instead of one. A painting is a painting. It will always stay just that one thing. It will slowly decay. And that’s all it ever is. And so there’s a bunch of different advantages to digital artwork over traditional artwork that we think you’re going to see sort of play out here that, to me, makes it super exciting and why we think this is the next chapter of art. New vehicles of art and display technologies thus bring with a value for the future and hence standout as an additional point while evaluating art.
Element 3: Authenticity
The piece needs to be officially authenticated. The process of authentication varies depending on the period in which the piece in question was created. Contemporary art is perhaps the easiest to authenticate, especially if the artist is alive and working as they can easily confirm they were the ones who authored the artwork.
However, if the piece was not made in recent times, the artwork’s documentation will be verified and the physical traits of the work itself will be analyzed.
Element 4: Artist
The artist is the most important factor to look at appraising art. Looking at history it’s easy to see that some artists were more important than others and therefore their works will have more value than others. The prolificity of the artist affects the value as well. All things being equal, a work by an artist who produced more will not hold the same value as one who produced less. Other aspects of the artist to consider are when in their career the work was produced and whether the work represents their style (works within an artist’s oeuvre tend to be valued higher). If it’s a pollock, Picasso, or Da Vinci it’s obvious that the price is going to be a lot higher and emerging artists can’t expect that sort of value. However now and then we make sure that as an art-house if other factors check out we don’t undervalue the artist and give the recognition and value the artwork and artist deserves.
Element 5: The Esoteric Substance
Basilica Art House is often described to be the napoleon of all art houses. We’re known for revealing art pieces that are esoteric and noetic. We believe that the true work of art is but a shadow of divine perfection. Although it may seem a bit odd at first, the subject the work tackles is an important element in art appraisal. Depending on the theme depicted, it is often possible to roughly determine a market, therefore narrowing the possible price range of a piece. One collector may be drawn to nineteenth-century landscape etchings while another finds value in Digital Art. We make sure that we value art highly which has a unique subject matter intended for or likely to be understood by only a small number of people with specialized knowledge or interest. At the end of the day, art was used as a vehicle to tell stories and feel emotions deeply and what use of these core values if not seen in their valuation.
Element 6: Market Place
JD Salinger taught us that “People always clap for the wrong reason”. The art world can be viewed to be this circus that casually goes crazy behind one or other things every now and then.
The art market is dynamic and greatly arbitrary, but it is still regulated by more or less measurable determinants – extracting those important bits and turning them into useful information to value artwork is one of our critical traits. We believe in leveraging the fundamentals more than the sudden “hypes” as overtime what matters more is our instincts towards art and the artist.
Element 7: Dimensions
Size matters in art. Not to say that bigger is always better, however, it does represent a certain level of skill that often adds value to a work.