The Outrageous Price of Art
The rich are easily viewed as insane for making purchases in the market of one subject in particular. That market, art and the subject modern, for it’s hard to put a price on art. It is especially hard to calculate the value when it’s made by any famous artist. So why are people spending outrageous amounts of money on art…?
There is an unspoken rule in this world that a piece of art created by a Pablo Picasso is automatically worth more than the paint and parchment that was used to create it. One reason for art’s dramatic expense is that the artist that made the art is deceased, which makes sense because if the artist is deceased then the artist’s style will never quite be reproduced. It’s an example of supply and demand. With a deceased artist means the supply has stopped so the value goes up and the demand rises. Another factor when calculating an artworks value is what …show more content…
They’re so similar; many people don’t know the difference between the two. The highest priced types of art are modern and contemporary. Modern art is commonly summarized as impressionism but sometimes varies. Modern art is the artist’s inner visions expressed using real life subject matter and is usually made with many different mediums. Contemporary art is more difficult to describe. Contemporary art is the successor to modern art and is taking place now. Because there is such a large quantity and vastly different artists today, contemporary art cannot be summarized under one or two styles. The simplest way to classify each movement is to designate each their own time period. Modern art started in the late 1800’s and ended sometime in the 1970’s. Where, contemporary art started in the 1970’s and has yet to end. One thing is for certain; both contemporary and modern art prices can reach up to 100 million dollars but can also be as low as 100 bucks.
The rich are easily viewed as insane for making purchases in the market of one subject in particular. That market, art and the subject modern, for it’s hard to put a price on art. It is especially hard to calculate the value when it’s made by any famous artist. So why are people spending outrageous amounts of money on art…?
There is an unspoken rule in this world that a piece of art created by a Pablo Picasso is automatically worth more than the paint and parchment that was used to create it. One reason for art’s dramatic expense is that the artist that made the art is deceased, which makes sense because if the artist is deceased then the artist’s style will never quite be reproduced. It’s an example of supply and demand. With a deceased artist means the supply has stopped so the value goes up and the demand rises. Another factor when calculating an artworks value is what …show more content…
They’re so similar; many people don’t know the difference between the two. The highest priced types of art are modern and contemporary. Modern art is commonly summarized as impressionism but sometimes varies. Modern art is the artist’s inner visions expressed using real life subject matter and is usually made with many different mediums. Contemporary art is more difficult to describe. Contemporary art is the successor to modern art and is taking place now. Because there is such a large quantity and vastly different artists today, contemporary art cannot be summarized under one or two styles. The simplest way to classify each movement is to designate each their own time period. Modern art started in the late 1800’s and ended sometime in the 1970’s. Where, contemporary art started in the 1970’s and has yet to end. One thing is for certain; both contemporary and modern art prices can reach up to 100 million dollars but can also be as low as 100 bucks.