Is any artwork worth millions of dollars? If so, why some artworks and not others?

Question

general question but I would like an indepth answer.

Answer 1

Yes, there is artwork worth millions. Check out what Sotheby's has sold in the last year, if you need more in-depth than that. Some pieces can go for $180 million.

Why are some worth so much? Taste. Van Gogh wasn't famous when he was alive, but look at his stuff now. Someone with...sway, someone others want to compare themselves to, bought a piece of art from some relatively obscure artist, and everyone else had to get it too. Prices went up, supply went down.

But even pieces by the same artist vary in price, depending on how typical they are of the artists' style, subject, and age. Later works are not as valuable as early ones, because some did become famous in their lifetimes, and they began to paint accordingly, either producing more or producing only what was popular.

Sometimes, though, there are pieces, who the artist is known, that go for a fortune. This is because of age. Russian icons, for example, especially 16th and 17th centuries, go for outrageous prices, but oftentimes the artist was priest or monk, or simply an untrained follower. Folk art, too, can go for a bit, again, because of age, and current collectability. Folk is in.

Prices will continue to rise on some artists, because of their fame. Others will rise and fall, depending on current tastes.

Answer 2

It depends on the popularity of the artist, also the time it took to make that peice of art, and how in demand that painting is...plus the publicity of the artist/peice. Also varies depending upon the cost of the paints etc used in it...or other products used in it. The size....and if anyone loves it so much as to pay that much for what the artist is asking. Generally once the artist passes away the peice becomes more vauable.

Answer 3

Art is definitely in the eye of the beholder.I have seen museum pieces that are worth millions but to me it looked like a child painted it. Of course the older artists like Van Gogh and Picasso are incredibly detailed pieces of art.I'm not really sure how they put a price on art, other than the really famous pieces. Those are more valuable because they are part of history. Picasso was one of the only artists to make a name for himself while he was alive.

Answer 4

there really isn't an in depth answer, artwork is worth money because of the desire to own it. The more desirable, the more people are willing to pay for it, just to say it is theirs. the prices just keep going up, because a person who wants it will offer the one who has it more than he paid for it to have it, and so on