Class 4: An Introduction to the Value of Art

Have you ever asked yourself what is the meaning of ‘value’ in art and why you didn’t become an artist yourself if one can earn $150,000 by taping a banana to a wall? Well, the definition of value in art is a complex topic that is influenced by many different variables. Understanding these variables and defining the concept of value in art is the focus of our fourth class of the Artland Academy. We will have a look at the contemporary art market and, in the end, you will know the difference between inherent and market value, which role auctions houses play, and why a painting by Van Gogh costs as much as it does. What does ‘value’ mean in art will no longer be a mysterious question for you.