Are there valuation models to ascertain art?
Valuations are arrived at through a process based on evaluation of the different phases of the artist in the past, places where he or she has exhibited, price realisations in the past and the present phase of the artist with regards to his or her work coupled with the demand, supply, expert opinion and mood of the market in general. As such there is no fixed valuation model and the purpose of an auction is to let the public determine the prices they feel the art work is worth hence, when a work sells through an auction both the buyer and the seller are happy. Is marketing a problem? Yes. Like in any other business marketing efforts are important more so when you have just started the business. What are the common myths about art as an avenue for investment? Today people think of art as a very lucrative sector. Naturally, new entrants (includes buyers, sellers as well as the artists) to the art scene have very unrealistic expectations. I am talking about valuations and price realisation
