fbpx

The Importance of Auctions in the Market

Create a thesis and an outline on How are auctions important for the art market today.

Don't use plagiarized sources. Get Your Assignment on
The Importance of Auctions in the Market
Just from $13/Page
Order Now

Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. For example, in other industries like the real estate, once the construction of the house is complete, the builders and architects will mostly not have any meaningful relations with the particular building or house. However this is different in the art world since the artist will have a central correlation with the art they have created. in this context, the role the art market plays in the art world and the artist’s own career is somewhat intricate and can vary from one artist to another and from one region to another. It is with this in mind that I have split my essay into different categories. Firstly, I will discuss the art market as a whole before looking at the aspect of art valuation. The second area will be covering the determination of the price for a painting. Thereafter I will finish my essay with a conclusion on how all these aspects are important for the art market today as much as the contribution to how a painting or an art piece will be auctioned. Art Market Recognition of art as a feasible and valuable alternative asset class has made a situation where the art market is increasingly being promoted purely as a means for monetary gains. New investments dealing in arts have been created in the last few years and this shows how the society has grown the confidence it has on the art market as a method of building wealth and as a way of diversifying the investment range. This art market is continuously growing even though it is a new and small market compared to other investment markets.

According to Singer and Lynch (94), the art market is divided into four categories that are diverse. The fourth category is mostly for the illicit aspect of the art market. The first one is referred to as primary which deals with art that is in the open market for the first time. once the art has been sold it will be in the secondary possession thereafter if it is auctioned the tertiary stage will be under this category. This means that before an art is auctioned it has to undergo probably the three faces (apart from the illicit market) and through the facets the value of the art piece might increase or decrease depending on the quality and the significance. Art valuation: Art valuation is the basis for dictating the significance of the art in question, whether the art is very good or very bad. This is an art-specific division of financial valuation. The process will involve giving an approximate value (valuation) or estimating the potential market value of works of art and thus this makes it more of a financial concern rather than an aesthetic concern (Fenner 28). The subjective views and opinions of the art also play a major role in the valuation process. The valuation itself will involve comparing the data and analyzing the trends of the art from various key players like collectors, auction houses, museums, curators and even art dealers among many other important art players. These key players will mostly arrive at a value that they will deem. The art market is dictated by the valuation which in turn determines whether an art is good or not. A good art will have a high market demand as many people will be after this piece of art and at the same time liquidity of the art means that the art is very easily sold without any impediments hence the art is deemed as a good art.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Nursing
Excellent work again. Thanks!!!
Customer 453939, March 24th, 2020
Education
yes I did
Customer 453969, February 11th, 2020
Other
Great work.
Customer 462927, May 24th, 2022
English 101
Impeccable output.
Customer 462717, April 20th, 2022
Nursing
great paper
Customer 454007, June 23rd, 2020
Medicine
Good work
Customer 453187, May 25th, 2022
Marketing & Advertising
We crafted. Thanks
Customer 463647, November 29th, 2022
Medicine
Very thorough and well written. Exceeded time frame slightly, but overall satisfied with the result.
Customer 454007, February 8th, 2020
Computer science
Excellent.
Customer 462387, April 4th, 2022
Marketing & Advertising
Nice article. I've also learnt alot.
Customer 453915, September 21st, 2022
Marketing & Advertising
Well researched paper. Fresh and Informative
Customer 463369, September 22nd, 2022
Ecology
good
Customer 453413, April 29th, 2020
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat