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Art valuation

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because there is a limited pool of potential buyers, and with artworks not reaching their reserve prices and not being sold, this has an effect on the auction prices. In a divorce action between a couple who sought to divide a $ 102 million collection between them, the couple decided a sale would prove problematic because selling the entire collection and dividing the profit would saturate the market and drive down prices; in reporting on the case,
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diversification. The newspaper attempted to calculate the value of the many artworks at issue in the case by determining a per-square-inch price based on each piece's value divided by its dimension, to end up with a per-square-inch price to apply to the amount of wall space the businesslike litigant wanted to cover with the available art.
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funds for a different purchase. Common motivations include the so-called three D's: death, debt and divorce. Buyers may be motivated by market excitement, may be acting in accord with a collection plan, or buying like buyers of stock: to drive value up or down either for themselves or for another person.
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Trends for values from the world's top auction houses are compared for study of market direction and how that direction affects given artists and works. Valuations for art sold at the market's top houses usually carry more weight than valuations from less established houses, as most of the top houses
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Liquidity in the art market means having artworks in very high demand and being able to sell those works without impediment. Art sales slow in downturns resulting in the market becoming more illiquid. There is a greater degree of liquidity risk facing the art investor than with other financial assets
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or vocabulary, for example, "bought-in", describing the disadvantageous situation occurring when a work or lot at auction is returned to its owner having been passed over, withdrawn or otherwise unsold. Valuing art is also necessary when a piece is to be used as collateral. The art-lending market has
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One potential factor in valuation are the seller's reasons for selling a particular work and/or the buyer's reasons for buying, neither of which may have anything to do with the other. For example, a seller may be motivated by financial need, boredom with a particular artwork, or the desire to raise
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has long been debated between artists who create and patrons who enable, but the charismatic power of artworks on those who would possess them is historically the initial driver of value. In the 1960s that charismatic power started edging over to accommodate commercialized culture and a new industry
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Williford v. Commissioner, 64 T.C.M. (CCH) 422 (1992) fn. 13. The eight 'Williford factors' are: (1) frequency and regularity of sales; (2) the substantiality of sales; (3) the duration the property was held; (4) the nature of the taxpayer's business and the extent to which the taxpayer segregated
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For collectors, the emotional connection felt toward a work or collection creates subjective personal value. The weight assigned by such a collector to that subjective measure as a portion of a work's overall financial value may be greater than that by an art speculator not sharing the collector's
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One of many factors in the primary market's price of a living artist's work is a dealer's contract with an artist: many dealers, as stakeholders in their artists' success, agree to buy their own stable of artists' work at auction in order to prevent price drops, to maintain price stability, or to
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the collection from his or her business inventory; (5) the purpose for acquiring and holding the property before sale; (6) the extent of the taxpayer's sales efforts by advertising or otherwise; (7) the time and effort the taxpayer dedicated to the sales; and (8) how the sales proceeds were used.
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described the case as a study on how people measure the value of art, and which counts for more — pragmatism or sentiment. The newspaper reported that one of the two litigants had a more sentimental view of the value of the works, while the other had a more businesslike view, wanting balance and
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Valuation estimates by auction houses are typically given in ranges of prices to offset uncertainty. Generally, estimates are made by looking at what a comparable piece of art sold for recently, with estimates given in a range of prices rather than one fixed figure, and in the case of
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utilizing art auction data as providers of art market research analysis. Information available from internet-based art sale history databases generally does not include the condition of a work, a very important factor, therefore the prices quoted in those databases reflect auction
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expanded to an estimated $ 15 billion to $ 19 billion of loans outstanding in the USA. The shift in Asia towards investment in western art is a factor that has allowed art lending companies to launch offices in Asia as western works are often easier to use as collateral.
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One method for pricing pieces by new artists of uncertain value is to ignore aesthetics and consider, besides market trends, three semi-commoditized aspects: "scale" - size and level of detail, "intensity" - effort, and "medium" - quality of the materials.
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can have a great impact on the valuation of certain types of work. In recent decades the values of historic Russian and Chinese art have greatly benefited from increased wealth in those countries creating new and very rich collectors, as the values of
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was valued at $ 26,666.67 per square inch, that the sentimental litigant received $ 3,082 of appraised value per square inch while the businesslike litigant received $ 1,942 per square inch, but could cover more wall space.
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without other, crucial valuation factors. Additionally, the databases of auctioned work do not cover private sales of works, and thus their use for art valuation is but one source among many needed for determining value.
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increase perceived value, or all three, thus dealers bidding on their own artists at auction have a direct impact on the selling price for those artists' works and as a result, the valuation of those works.
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emotional investment, however, non-economic value measures such as "Do I like it?" or "Does it speak to me?" still have economic effect because such measures can be deciding factors in a purchase.
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In contrast, the Art Dealers Association of America (ADAA) suggests that the key issues are authenticity, quality, rarity, condition, provenance and value.
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Coslor, Erica (April 2016). "Transparency in an opaque market: Evaluative frictions between "thick" valuation and "thin" price data in the art market".
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of works, and with valuation trends such as average sale price and mean estimates. As with other markets, the art market uses its own industry-specific
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Spencer, Ronald D., The Expert Versus the Object: Judging Fakes and False Attributions in the Visual Arts, (New York, Oxford University Press, 2004).
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especially, having few comparables or when an artist is not well known and has no auction history, the risks of incorrect valuation are greatest.
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concern, however, subjective views of cultural value play a part as well. Art valuation involves comparing data from multiple sources such as art
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Valuing artworks in such a specialized market, therefore, takes into account a wide variety of factors, some indeed in conflict with each other.
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such as yearly lot transactions, bought-in statistics, sales volume, price levels, and pre-auction estimates. There are also companies such as
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1 & 2. Bonhams, and Bonhams & Butterfields (London, New York, Los Angeles, Sydney, Hong Kong, Dubai, and San Francisco)
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An Exploration of the Relationships of Physical Features of Art Works to Art Valuations and Selling Prices in Fundraising
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Balfe, Judith, Ed., Paying the piper: causes and consequences of art patronage, Univ. of Illinois Press, 1993, p.307.
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Art vs securities, a discussion: from the perspective of a well-known art educator and co-founder of the
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Estate of Querbach v. A & B Appraisal Serv., No.L-089362-85 Supr. Ct N.J., Bergen County, 1987,
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Littlejohn, David, Who is Jeff Koons and Why Are People Saying Such Terrible Things About Him?
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A Note on Financial Risk, Return and Asset Pricing in Australian Modern and Contemporary Art
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7. Sotheby's (London, Hong Kong, Geneva, Milan, Paris, ZĂĽrich, New York, Toronto, Doha)
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Estate of Scull v. Commissioner, 67 T.C. Memo. 2953 (1994) (CCH) 1994-211 as cited by
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Managing Uncertainty, The visual art market for contemporary art in the United States
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Ertug, Gokhan; Yogev, Tamar; Lee, Yonghoon G.; Hedström, Peter (1 February 2016).
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for tax purposes, and disputes relating to the valuation of art or the nature of
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Art valuation activity concerns itself with estimating market demand, estimating
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Financial Returns and Price Determinants in the Australian Art Market, 1973–2003
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From Prints to Posters: The Production of Artistic Value in a Popular Art World
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Research data available from art auction houses such as Christie's, Sotheby's,
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of how art has performed on a historical basis in comparison with securities.
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Role of critics: Cameron, S., On the role of critics in the culture industry,
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Jeffri, Joan, Philanthropy and the American artist: A historical overview,
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Ackerman, Martin S., The Economics of Tax Policies Affecting Visual Art,
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Show Me the Monet: the Suitability of Product Disparagement to Art Experts
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In the United States, art bought and sold by collectors is treated as a
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ultimately concluded that using this formula as between the litigants,
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4. Dorotheum (Vienna, Brussels, DĂĽsseldorf, Munich, Milan and Rome)
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3. Christie's (London, Paris, Milan, New York, Hong Kong and Dubai)
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of art, when aesthetic value fell from prominence to parity with
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purposes. This article deals with the valuation of works of
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The art of divorce: She gets the Monet, he gets the Renoir
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had earlier been boosted by oil wealth in the Arab world.
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capability of lots, works, and artists, the condition and
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5. Heritage Auctions (Dallas, Beverly Hills and New York)
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6. Phillips de Pury & Company (New York and London)
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Dunbier System & ENCompass 22,000 Artist Directory
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Blaug, Mark, Where Are We Now on Cultural Economics?,
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Inflatable investments, The volatile art of Jeff Koons
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of a work also affect market demand, as does rarity.
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Wealthy Use Art Collections As Way To A Better Loan
736:, Erasmus Univ., Rotterdam, Maastricht Univ., 2007. 1439: 2245: 347:Valuation for tax and other law-related purposes 1917:Timeline of 20th century printmaking in America 1300:, Society of Business, Industry and Economics, 998:For an example see artnet.com's sample report: 975: 416:Estate of Querbach v. A & B Appraisal Serv. 412:from business unless actually in the business), 359:on its sale are usually decided by the federal 1275:, Spring 1987, Vol. 10, No. 1, Pages 111–128, 915: 913: 728: 726: 724: 125:valuations, for charitable contributions, for 1425: 992: 1173:, 126 Ariz. 44, 612 P.2d 500 (Ct.App.1980). 1089:, 86 F.3d 42 1996 affg. T.C. Memo. 1992-106. 816:, teachmefinance.com. Accessed 20 June 2012. 767: 322: 1087:Andrew Crispo Gallery, Inc. v. Commissioner 910: 721: 1432: 1418: 1171:Nataros v. Fine Arts Gallery of Scottsdale 1038: 1000:Market Performance Report for Piet Mondian 864: 862: 860: 858: 711: 709: 707: 432:Nataros v. Fine Arts Gallery of Scottsdale 1287:International Foundation for Art Research 1245:, Hacker Art Books 1982, (3 Volume Set). 1184: 1005: 989:, 2009-10-04, Retrieved 23 November 2011. 930: 780: 718:, artnet.com, retrieved 21 November 2011. 686: 673: 525: 1130: 1114: 1025: 540: 184: 81: 73: 65: 57: 49: 41: 33: 25: 1164: 855: 704: 633:The European Journal of Cultural Policy 366: 279: 149:Historic valuation and contemporary art 2246: 1092: 1080: 983:The reinvention of artist Damien Hirst 967:10. Villa Grisebach Auktionen (Berlin) 961:8. Stockholms Auktionsverk (Stockholm) 503: 422:Estate of Robert Scull v. Commissioner 384:of valuation as taxpayer has ultimate 260:have hundreds of years of experience. 1413: 1151: 1055: 886: 639: 624: 506:Accounting, Organizations and Society 497: 607: 408:(cannot claim gain from art sale as 113:, private and corporate collectors, 1062:Why A Dead Shark Costs $ 12 Million 254: 97:, is the process of estimating the 13: 2016:Index of painting-related articles 1309:Journal of Arts Management and Law 1197: 14: 2275: 1073:Capital asset defined: 26 U.S.C. 1011:For example, arttactic's monthly 786:Kendzulak, Susan, definition of " 541:Velthuis, Olav (19 August 2007). 2231: 1335:The Collateral Value of Fine Art 1101: 906:10.1111/j.1475-4932.2005.00237.x 288: 209: 153:The source of a work's artistic 1207:, 15(2), 2001, pp. 123–43. 1067: 892:Higgs, H. and Worthington, A., 837: 827:"Art & Finance Report 2016" 819: 800: 739: 1340:Journal of Banking and Finance 938:Top 11 Fine Art Auction Houses 919:Worthington, AC and Higgs, H, 652: 568: 547:. Princeton University Press. 534: 180: 38:An art curator, Anne PontĂ©gnie 1: 1348:Journal of Cultural Economics 1317:10.1080/07335113.1985.9942163 1311:, 15:3 1985, pp. 61–71. 1161:, T.C. Memo. 6506-86 (2003). 925:Journal of Cultural Economics 734:Art as a Financial Investment 581:Academy of Management Journal 491: 402:through inflated appraisals), 1955:Museum collection management 1878:Art history (academic study) 1757:alternative exhibition space 1387:The Great Art Boom 1970–1997 1264:, Vol. 117, 5 November 2007. 225: 93:, an art-specific subset of 7: 2116:Colossal sculptures in situ 1820:Artist-in-residence program 1205:Journal of Economic Surveys 1123:, T.C. Memo. 94-16958; and 964:9. Tajan (Paris and Monaco) 927:, 30(3), March 2006, 73-84. 833:. Deloitte & ArtTactic. 649:, ARTnet.com, 6 March 2007. 647:Art Values or Money Values? 450: 214:As in the housing market, " 30:An art auction at Christies 10: 2280: 2126:Contemporary art galleries 2021:Outline of the visual arts 970:11. Waddington's (Toronto) 636:, 3(2), 2009, pp. 207-233. 477:Arts Marketing Association 380:(need to produce credible 15: 2196: 2056: 1925: 1863: 1727: 1652: 1451: 1293:on valuation in the U.S.. 518:10.1016/j.aos.2016.03.001 442:Williford v. Commissioner 323:General valuation factors 248:Dans les Oliviers Ă  Capri 117:, art dealer activities, 2180:Most expensive paintings 1967:Conservation-restoration 1769:Contemporary art gallery 1363:Mei Moses Fine Art Index 1281:10.1525/si.1987.10.1.111 1258:Valuing Art in an Estate 1121:Drummond v. Commissioner 406:Drummond v. Commissioner 2188:works by living artists 1950:Classificatory disputes 1333:Thompson and McAndrew, 1296:Marshall & Chisti, 1159:Walford v. Commissioner 1146:George Mason Law Review 900:, 81:113–123, 2005-06. 1242:The Economics of Taste 1099:Angell v. Commissioner 486:sociology of valuation 392:Angell v. Commissioner 190: 129:, insurance, and loan 87: 79: 71: 63: 55: 47: 39: 31: 1825:Artist-run initiative 1712:Visual arts education 1365:, Michael Moses, two 593:10.5465/amj.2013.0621 398:perpetuated upon the 188: 85: 77: 69: 61: 53: 45: 37: 29: 2121:Contemporary artists 1984:Destination painting 1781:Single-artist museum 1670:Conservator-restorer 1291:overview of case law 1273:Symbolic Interaction 1239:Reitlinger, Gerald, 1212:Fine Art Comparables 879:, Local News | 875:31 July 2012 at the 683:, April 1993, p. 94. 386:burden of persuasion 382:documentary evidence 367:Important U.S. cases 280:Participant activity 2111:Art reference books 1905:History of painting 1489:Fine-art photograph 1384:Wood, Christopher, 1179:When Ishmael Called 1018:8 July 2009 at the 1013:Rawfacts newsletter 851:. 28 December 2017. 849:The Financial Times 747:"Collector's Guide" 701:, 28 November 2009. 305:are those tracking 303:Lyon & Turnbull 244:John Singer Sargent 95:financial valuation 86:An art studio visit 2206:Visual arts portal 2136:National galleries 1989:Eclecticism in art 1944:Catalogue raisonnĂ© 1815:Artist cooperative 1356:10.1007/BF01073994 1232:2021-05-18 at the 936:Kendzulak, Susan, 812:2012-05-04 at the 793:2016-03-04 at the 732:Campbell, R.A.J., 191: 88: 80: 72: 64: 56: 48: 40: 32: 2219: 2218: 1810:Artist collective 1624:Site-specific art 1474:Cultural artifact 1304:2006, p. 81. 1110: 981:Thornton, Sarah, 881:The Seattle Times 775:Market Trends FAQ 773:See artnet.com's 668:978-0-415-33956-8 619:978-0-252-06310-7 467:Blockage discount 426:fair market value 234:The Seattle Times 70:An art exhibition 2271: 2236: 2235: 2227: 2175:Stolen paintings 2043:Sociology of art 1994:Economics of art 1845:Sculpture garden 1830:Artist-run space 1629:Social sculpture 1499:Installation art 1434: 1427: 1420: 1411: 1410: 1260:, Tax Analysts, 1192: 1188: 1182: 1168: 1162: 1155: 1149: 1134: 1128: 1118: 1112: 1106: 1105: 1096: 1090: 1084: 1078: 1071: 1065: 1059: 1053: 1044:Cornish, Audie, 1042: 1036: 1031:de Pury, Simon, 1029: 1023: 1009: 1003: 996: 990: 987:The Sunday Times 979: 973: 934: 928: 917: 908: 890: 884: 868:Armstrong, Ken, 866: 853: 852: 841: 835: 834: 823: 817: 804: 798: 784: 778: 771: 765: 764: 762: 760: 751: 743: 737: 730: 719: 716:How to Value Art 713: 702: 690: 684: 677: 671: 656: 650: 645:Kuspit, Donald, 643: 637: 628: 622: 611: 605: 604: 572: 566: 565: 563: 561: 538: 532: 531: 529: 501: 330:contemporary art 255:Valuation trends 139:contemporary art 46:An art collector 2279: 2278: 2274: 2273: 2272: 2270: 2269: 2268: 2244: 2243: 2242: 2230: 2222: 2220: 2215: 2201:Painting portal 2192: 2099:sculpture parks 2052: 2011:Elements of art 1979:Cultural policy 1921: 1873:Timeline of art 1859: 1850:Sculpture trail 1729: 1723: 1648: 1565:Performance art 1447: 1438: 1358:(subscription). 1283:(subscription). 1234:Wayback Machine 1200: 1198:Further reading 1195: 1189: 1185: 1169: 1165: 1156: 1152: 1135: 1131: 1119: 1115: 1097: 1093: 1085: 1081: 1072: 1068: 1060: 1056: 1043: 1039: 1030: 1026: 1020:Wayback Machine 1010: 1006: 997: 993: 980: 976: 935: 931: 918: 911: 898:Economic Record 891: 887: 877:Wayback Machine 867: 856: 843: 842: 838: 825: 824: 820: 814:Wayback Machine 805: 801: 795:Wayback Machine 785: 781: 772: 768: 758: 756: 749: 745: 744: 740: 731: 722: 714: 705: 691: 687: 678: 674: 657: 653: 644: 640: 629: 625: 612: 608: 573: 569: 559: 557: 555: 539: 535: 502: 498: 494: 453: 436:burden of proof 378:v. Commissioner 369: 349: 325: 291: 282: 265:economic trends 257: 228: 212: 183: 151: 24: 12: 11: 5: 2277: 2267: 2266: 2261: 2256: 2241: 2240: 2217: 2216: 2214: 2213: 2208: 2203: 2197: 2194: 2193: 2191: 2190: 2177: 2172: 2171: 2170: 2160: 2155: 2154: 2153: 2151:by nationality 2148: 2138: 2133: 2131:Modern artists 2128: 2123: 2118: 2113: 2108: 2107: 2106: 2101: 2096: 2091: 2081: 2076: 2074:Art techniques 2071: 2066: 2060: 2058: 2054: 2053: 2051: 2050: 2045: 2040: 2035: 2034: 2033: 2028: 2018: 2013: 2008: 2007: 2006: 2001: 1991: 1986: 1981: 1976: 1975: 1974: 1964: 1963: 1962: 1960:deaccessioning 1952: 1947: 1940: 1935: 1929: 1927: 1923: 1922: 1920: 1919: 1914: 1913: 1912: 1902: 1901: 1900: 1890: 1885: 1880: 1875: 1869: 1867: 1865:History of art 1861: 1860: 1858: 1857: 1855:Virtual museum 1852: 1847: 1842: 1837: 1832: 1827: 1822: 1817: 1812: 1807: 1802: 1797: 1796: 1795: 1785: 1784: 1783: 1773: 1772: 1771: 1761: 1760: 1759: 1752:Art exhibition 1749: 1744: 1739: 1733: 1731: 1725: 1724: 1722: 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376:Crispo Gallery 368: 365: 348: 345: 324: 321: 290: 287: 281: 278: 256: 253: 227: 224: 211: 208: 182: 179: 150: 147: 111:auction houses 78:An art gallery 54:An art opening 9: 6: 4: 3: 2: 2276: 2265: 2262: 2260: 2257: 2255: 2252: 2251: 2249: 2239: 2234: 2229: 2228: 2225: 2212: 2209: 2207: 2204: 2202: 2199: 2198: 2195: 2189: 2185: 2181: 2178: 2176: 2173: 2169: 2166: 2165: 2164: 2161: 2159: 2158:Photographers 2156: 2152: 2149: 2147: 2144: 2143: 2142: 2139: 2137: 2134: 2132: 2129: 2127: 2124: 2122: 2119: 2117: 2114: 2112: 2109: 2105: 2104:single artist 2102: 2100: 2097: 2095: 2092: 2090: 2087: 2086: 2085: 2082: 2080: 2079:Art movements 2077: 2075: 2072: 2070: 2067: 2065: 2064:Art magazines 2062: 2061: 2059: 2055: 2049: 2046: 2044: 2041: 2039: 2036: 2032: 2029: 2027: 2024: 2023: 2022: 2019: 2017: 2014: 2012: 2009: 2005: 2004:art valuation 2002: 2000: 1997: 1996: 1995: 1992: 1990: 1987: 1985: 1982: 1980: 1977: 1973: 1970: 1969: 1968: 1965: 1961: 1958: 1957: 1956: 1953: 1951: 1948: 1946: 1945: 1941: 1939: 1936: 1934: 1931: 1930: 1928: 1924: 1918: 1915: 1911: 1908: 1907: 1906: 1903: 1899: 1896: 1895: 1894: 1891: 1889: 1888:Art movements 1886: 1884: 1883:Art manifesto 1881: 1879: 1876: 1874: 1871: 1870: 1868: 1866: 1862: 1856: 1853: 1851: 1848: 1846: 1843: 1841: 1838: 1836: 1833: 1831: 1828: 1826: 1823: 1821: 1818: 1816: 1813: 1811: 1808: 1806: 1805:Arts festival 1803: 1801: 1798: 1794: 1791: 1790: 1789: 1786: 1782: 1779: 1778: 1777: 1774: 1770: 1767: 1766: 1765: 1762: 1758: 1755: 1754: 1753: 1750: 1748: 1745: 1743: 1740: 1738: 1735: 1734: 1732: 1726: 1718: 1715: 1714: 1713: 1710: 1708: 1705: 1703: 1700: 1698: 1695: 1693: 1690: 1688: 1685: 1681: 1678: 1676: 1673: 1672: 1671: 1668: 1666: 1663: 1661: 1658: 1657: 1655: 1651: 1645: 1644:Artwork title 1642: 1640: 1639:Stained glass 1637: 1635: 1632: 1630: 1627: 1625: 1622: 1618: 1615: 1613: 1610: 1608: 1605: 1603: 1600: 1599: 1598: 1595: 1591: 1588: 1587: 1586: 1583: 1581: 1578: 1576: 1573: 1571: 1568: 1566: 1563: 1561: 1558: 1554: 1551: 1549: 1546: 1544: 1541: 1540: 1539: 1538:New media art 1536: 1532: 1529: 1527: 1524: 1523: 1522: 1519: 1515: 1512: 1511: 1510: 1507: 1505: 1502: 1500: 1497: 1495: 1492: 1490: 1487: 1485: 1482: 1480: 1477: 1475: 1472: 1470: 1467: 1465: 1462: 1460: 1459:Appropriation 1457: 1456: 1454: 1450: 1446: 1442: 1435: 1430: 1428: 1423: 1421: 1416: 1415: 1412: 1405: 1401: 1397: 1396:9780903872584 1393: 1389: 1388: 1383: 1380: 1376: 1372: 1368: 1364: 1360: 1357: 1353: 1349: 1345: 1342: 1341: 1336: 1332: 1329: 1328:9780195147353 1325: 1321: 1318: 1314: 1310: 1306: 1303: 1299: 1295: 1292: 1288: 1285: 1282: 1278: 1274: 1270: 1267:Fitz Gibbon, 1266: 1263: 1259: 1255: 1252: 1251:9780878172887 1248: 1244: 1243: 1238: 1235: 1231: 1228: 1224: 1221: 1217: 1214:, tfaoi.org, 1213: 1209: 1206: 1202: 1201: 1187: 1180: 1177:Dufy, Raoul, 1176: 1172: 1167: 1160: 1154: 1147: 1143: 1139: 1133: 1126: 1122: 1117: 1109: 1104: 1100: 1095: 1088: 1083: 1076: 1070: 1063: 1058: 1051: 1047: 1041: 1034: 1028: 1021: 1017: 1014: 1008: 1001: 995: 988: 984: 978: 969: 966: 963: 960: 957: 954: 951: 948: 945: 942: 941: 939: 933: 926: 922: 916: 914: 907: 903: 899: 895: 889: 882: 878: 874: 871: 865: 863: 861: 859: 850: 846: 840: 832: 828: 822: 815: 811: 808: 803: 796: 792: 789: 783: 776: 770: 755: 748: 742: 735: 729: 727: 725: 717: 712: 710: 708: 700: 699: 698:The Economist 694: 689: 682: 676: 669: 665: 661: 655: 648: 642: 635: 634: 627: 620: 616: 610: 602: 598: 594: 590: 586: 582: 578: 571: 556: 554:9780691134031 550: 546: 545: 537: 528: 523: 519: 515: 511: 507: 500: 496: 487: 483: 480: 478: 475: 473: 472:Market demand 470: 468: 465: 463: 460: 458: 455: 454: 443: 440: 437: 433: 430: 427: 423: 420: 417: 414: 411: 407: 404: 401: 397: 393: 390: 387: 383: 379: 377: 373: 372: 371: 370: 364: 362: 358: 354: 353:capital asset 344: 341: 337: 333: 331: 320: 317: 316:hammer prices 312: 308: 307:market trends 304: 300: 296: 289:Research data 286: 277: 275: 271: 266: 261: 252: 249: 245: 241: 236: 235: 223: 221: 217: 210:Market demand 207: 204: 200: 196: 187: 178: 175: 171: 169: 165: 161: 156: 146: 144: 140: 137:, especially 136: 132: 128: 124: 120: 116: 112: 108: 104: 100: 96: 92: 91:Art valuation 84: 76: 68: 62:An art dealer 60: 52: 44: 36: 28: 23: 19: 2094:most visited 2003: 1942: 1570:Plastic arts 1494:Found object 1386: 1347: 1338: 1308: 1301: 1272: 1261: 1241: 1211: 1204: 1186: 1174: 1166: 1158: 1153: 1145: 1137: 1132: 1116: 1094: 1082: 1069: 1057: 1040: 1027: 1007: 994: 986: 977: 932: 924: 897: 888: 880: 848: 839: 830: 821: 802: 797:", about.com 782: 769: 757:. Retrieved 753: 741: 696: 688: 680: 675: 659: 654: 641: 631: 626: 609: 584: 580: 570: 558:. Retrieved 543: 536: 527:11343/113919 509: 505: 499: 441: 431: 421: 415: 405: 391: 374: 350: 342: 338: 334: 326: 292: 283: 262: 258: 247: 239: 232: 229: 213: 203:terms of art 192: 176: 172: 152: 127:tax planning 103:works of art 99:market value 90: 89: 2259:Art auction 2238:Visual arts 2211:Arts portal 2084:Art museums 1999:art finance 1800:Arts centre 1764:Art gallery 1747:Art commune 1737:Art auction 1580:Printmaking 1509:Mixed media 1504:Kinetic art 1441:Visual arts 1343:, Jan 2006. 1302:Proceedings 1140:Orenstein, 759:3 September 462:Art finance 274:Islamic art 270:Orientalist 216:comparables 189:An art fair 181:Valuing art 164:Andy Warhol 22:Art auction 2248:Categories 2184:sculptures 2038:Provenance 1933:Art market 1840:Commission 1788:Art school 1776:Art museum 1742:Art colony 1730:and events 1590:street art 1585:Public art 492:References 263:Long term 199:provenance 168:Jeff Koons 131:collateral 119:gallerists 18:Art market 16:See also: 2254:Museology 2163:Sculptors 2069:Art media 2031:sculpture 1972:paintings 1893:Criticism 1675:paintings 1665:Collector 1597:Sculpture 1514:bricolage 1445:art world 1379:ArtTactic 1289:: IFAR's 1262:Tax Notes 1210:Dunbier, 807:Buying in 788:Bought-In 601:0001-4273 512:: 13–26. 482:Valuation 457:Appraiser 361:Tax Court 311:ArtTactic 240:The Times 226:Liquidity 195:liquidity 107:aesthetic 2141:Painters 2026:painting 1938:The arts 1898:feminist 1835:Biennale 1575:Portrait 1560:Painting 1531:graffiti 1484:Fine art 1443:and the 1404:37881234 1367:podcasts 1256:Gerzog, 1230:Archived 1175:See also 1016:Archived 873:Archived 831:Deloitte 810:Archived 791:Archived 451:See also 295:Phillips 155:charisma 143:antiques 135:fine art 115:curators 2146:by name 2089:largest 1926:Related 1910:outline 1692:Curator 1680:frescos 1617:tallest 1602:carving 1553:virtual 1548:digital 1543:history 1479:Drawing 1464:Collage 1452:Artwork 1033:FAQ #13 681:Artnews 299:Bonhams 160:Pop art 2224:Portal 2168:female 1793:Europe 1728:Places 1717:Europe 1707:Patron 1697:Dealer 1687:Critic 1660:Artist 1612:statue 1607:relief 1526:fresco 1402:  1394:  1375:Part 2 1371:Part 1 1326:  1249:  1220:Part 2 1216:Part 1 1125:appeal 1075:§ 1221 666:  617:  599:  560:9 June 551:  410:income 301:, and 220:medium 123:estate 2057:Lists 2048:Style 1702:Model 1653:Roles 1521:Mural 1377:, at 750:(PDF) 396:fraud 1400:OCLC 1392:ISBN 1373:and 1324:ISBN 1247:ISBN 1225:The 1218:and 761:2023 664:ISBN 615:ISBN 597:ISSN 562:2017 549:ISBN 357:gain 272:and 162:and 20:and 2264:Art 1352:doi 1313:doi 1277:doi 1108:DOC 1050:NPR 902:doi 589:doi 522:hdl 514:doi 400:IRS 246:'s 101:of 2250:: 2186:, 2182:, 1398:. 1337:, 1271:, 1144:, 1138:in 1048:, 985:, 923:, 912:^ 896:, 857:^ 847:. 829:. 752:. 723:^ 706:^ 695:, 595:. 585:59 583:. 579:. 520:. 510:50 508:. 484:; 438:), 428:), 388:), 297:, 145:. 2226:: 1433:e 1426:t 1419:v 1406:. 1381:. 1354:: 1330:. 1319:. 1315:: 1279:: 1222:. 1035:. 1022:. 1002:. 904:: 777:. 763:. 670:. 621:. 603:. 591:: 564:. 530:. 524:: 516:: 394:(

Index

Art market
Art auction








financial valuation
market value
works of art
aesthetic
auction houses
curators
gallerists
estate
tax planning
collateral
fine art
contemporary art
antiques
charisma
Pop art
Andy Warhol
Jeff Koons

liquidity
provenance

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