The 5 markers for pricing an artwork

It should be noted that the cost of the materials used in the creation will have no impact on the amount needed to acquire it.
An exception to this rule are installations or sculptural works made out of an expensive material, such as bronze, for example.

The artworks produced in several editions are particular in the way their value is defined. Contrary to what one might think, the price of the different editions won't be identical, and the first edition won't be the most expensive either.
In reality, when the artist announces that his work will be published in several copies (with a limited number), each sale of a new edition increases the value of the following ones.
This phenomenon seems strange; however, it simply responds to the principle of supply and demand.
The more the work is in demand, the higher the selling price of the latest editions, especially if there are only a few copies left.
But beware, this mechanism works as long as the number of copies is indicated at the outset and that it is really limited. This is because works that are reproduced in too large numbers or for which the maximum number of editions is not known will have the opposite effect and will create a depreciation in their value.

3. Assess the reputation of the art gallery presenting the artist.

The fame of an art dealer has a considerable impact on the value of an artist and his work. The more highly regarded the gallery and its representatives are, the more the artist they represent will be considered by collectors.

The career of an emerging artist will also benefit from a show in a renowned gallery, even if the works presented are reasonably priced.

Galleries usually present works to public institutions first. As these institutions do not have the resources of private collectors, the work will be sold to them for a price they can afford. This process is extremely beneficial to artists whose rating will evolve positively, influenced by the recognition of their work by a public institution.

Galleries also play a protective role for artists. They exercise a control mechanism on buyers to avoid selling to pure speculators.

They aim to curb the buying and immediate reselling on the secondary market, a practice known as “flipping”, which has a negative effect on the value of an artist.

4. Pay attention to the venues that exhibit the artist.

We can consider private foundations, museums, openings and biennials, among others.

First, the importance of museums as trusted repositories for art market players should be emphasized. One of their roles is to identify works that reflect today's society, that are culturally significant, and that are in line with the continuing course of art history.

In selecting the works to be exhibited, museum curators therefore have a major impact on the market value of artists.
This influence is also exerted by well-known collectors who, like curators, are meticulous in selecting the pieces that make up their collection.

Then, by listing the artworks and artists that are attracting the attention of these two major players, it is possible to determine the current artists whose market value is evolving.