The term “artist” describes a painter, illustrator, graphic designer, sculptor, novelist, poet, filmmaker, and even a musician. Art is such a broad term because there are so many various forms of art. Art is defined as “works produced by human creative skill and imagination.” So, if everyone has the potential for creative skill and imagination, why is some art SO expensive?
Here are a few reasons why some art is extremely costly:
- It’s hard to put a value on art.
The value of art is determined by the perceiver. The same piece of art can be meaningful to one person, and completely meaningless to another. However, factors like the size of the artwork, the age of the artwork, the artist, and if it has been bought before are important to take into consideration when placing a value on a piece of art.
- Supply and demand.
Many pieces of artwork receive an increased value after the artist has passed away because artwork by that person becomes limited. The demand for this artwork increases, which also increases the cost.
- Art is seen as an easy investment.
Art’s value is constantly changing. One day, it could be worth a million dollars, but a decade later, it could be worth so much more than that. Because of this, wealthy people sometimes purchase art for the purpose of gaining more wealth rather than to have the artwork.
- Practicing art is expensive.
The supplies needed to create good-quality art can be very costly. Creating art also takes a lot of time. It’s also difficult for artists to sell their work for a reasonable price locally. This is why artists are usually called starving artists. Because the mediums to create the artwork are expensive, and it takes hours upon hours to finally have the piece of artwork completed, the value of the art increases tremendously.
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Source: https://www.feelgoodnow247.com/7-reasons-why-some-art-is-so-expensive/
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