A Personal Analysis About the Valuation of Art: Part 3

Part 3--Demand “I don’t know much about art, but I know what I like.” That old chestnut says it all. What “I like” is a highly individual sensation based on personal taste, experience, memory and emotional make up. “Value” has nothing to do with “like.” If the art passes the “like” test, the value is established by exchanging treasure with the owner or creator of the art. Some of the things we like the best – an incredible view just before sunset, a full moon over Santorini, are priceless and free (sort of) at the same time. Only art made by humans is traded for money. We are drawn to art that sells for huge sums because we are conditioned to believe that the most expensive is the best.

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