How are prices determined for artwork?
Prices for original art are set by the living artist or by recent auctions of other works by that artist. (Even paintings by the same artist can have widely varying values based upon the subject matter; for example, is it typical of the works for which the artist is best known.) Prices for work by deceased artists are determined by the marketplace, especially auctions. Factors such as condition, size, medium, whether a work is signed or unsigned, published or unpublished, and whether it is a study or a finished work are important in determining the value of an original work. Prices of prints are set by the publisher while secondary market prices of prints reflect public demand for a particular image.
