The Price of Art

I am currently a student at the Academy of Art University. I am working on my Master of Fine Arts degree in Fashion Merchandising. In my history class we are doing an art project to explore further the roots of art in our cultures and society. I have chosen the Travel and exploration theme. I have chosen this topic because I love to travel, I have been to over 19 states in the US and a few other places over seas. My art piece is an image of the US main land, constructed out of fabric. I am not finished but here is my first image of it.

 

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So what drives art prices to extreme numbers?

One reason why art reaches high prices is the amount of pieces available. If the artist claims to only have a limited amount available many pretentious buyers jump on the wagon. This drives the prices up to incredible heights. With the help of media, marketing and other good sources, the sky is the limit on how high the prices can go. If the artist is deceased, the art that they have left behind is considered “priceless”. Meaning that the price is going to start sky-high and climb from there higher! This also tells the buyer, the deceased artist will not be making any more art pieces and owning one gives you an exclusively one of a kind.

While of course there are several other reasons why this happens, let me know what you think!

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DCS

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