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Art valuation, an art-specific subset of financial valuation, is the process of estimating the market value of works of art. As such, it is more of a financial rather than an aesthetic concern, however, subjective views of cultural value play a part as well.
The element of value is compatible with the term luminosity, and can be "measured in various units designating electromagnetic radiation". [6] The difference in values is often called contrast, and references the lightest (white) and darkest (black) tones of a work of art, with an infinite number of grey variants in between. [6]
A theory of art is intended to contrast with a definition of art. Traditionally, definitions are composed of necessary and sufficient conditions, and a single counterexample overthrows such a definition. Theorizing about art, on the other hand, is analogous to a theory of a natural phenomenon like gravity.
Understanding art may be key to accessing what's often dubbed an exclusive space. We peel back the layers of what makes art valuable with Melissa Wolfe, a curator of American art at the renowned ...
Three kinds of economic agents determine these values. Specific experts like gallery owners or museum directors use the first, social value. Experts like art historians and art professors use the second, artistic value. Buyers who buy works of art as an investment use the third, the price history and expectations for future price increases.
Somewhat in relation to the above, the word art is also used to apply judgments of value, as in such expressions as "that meal was a work of art" (the cook is an artist), or "the art of deception" (the highly attained level of skill of the deceiver is praised). It is this use of the word as a measure of high quality and high value that gives ...
Conceptual art is art wherein the concept(s) or idea(s) involved in the work take precedence over traditional aesthetic and material concerns. [25] The inception of the term in the 1960s referred to a strict and focused practice of idea-based art that defied traditional visual criteria associated with the visual arts in its presentation as text ...
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