They say that the 21st century is the new renaissance of art; from the developments in new media and reinvention of classic techniques used by the greats. In the auction and art trade market, we see paintings going for thousands to millions of dollars. But how does one piece really appreciate in value? To get to the bottom of it, we talked with noted art consultant and collector, Miguel Rosales:
If the artist has a strong collectors base, there will be desirability for that artists works thru the years. There will be enough support for the works and they will continue to be traded.
A successful artist whose output was not all over the place will generally have strong appeal over time as there will be competition for a limited number of works.
Properly managed estate
It’s important for artist to have good estate management that protects the integrity of the works and the legacy of the artist after he/she is gone. The estate will be the go to point for documentation of works and info on the artist.
Condition of works
Artwork condition affects the value of the work itself. A poorly kept or poorly restored artwork will hold less value than one that’s kept in great shape.