2007-05-16 07:38:47 · 3 answers · asked by nicholette27 1 in Arts & Humanities ➔ Visual Arts ➔ Painting
I understand that a painting is worth what someone is willing to pay for it, but why $73K for a painting with stripes, when other paintings are worth very little? Who decides? What are the criteria? How does a museum decide what is a quality painting?
2007-05-16 08:06:15 · update #1
The market always decides when it comes to the old timers art work. I thought the painting went for 73 million, not 73K. Anyway, it is all about who is willing to pay that much at auction and that's based on alot of psychological issues and feelings of connections with the work and also seeing it as an investment that will only go up in value in the future.
2007-05-16 11:00:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Although there is a lot of this dead artist's paintings in museums and art galleries,there are still some being sold on the open market.
The price of the painting, was what someone was willing to pay.
The artist's work has been appreciating in value over the last 30 years.David Rockefeller sold it,and it is hoped he will donate the money, to many of the charities he supports.
2007-05-16 14:59:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
By selling it. It is worth what someone is willing to pay.
By comparing it similar sold items - comparables.
2007-05-16 14:49:04 · answer #3 · answered by Mike1942f 7 · 0⤊ 0⤋