HOW TO DETERMINE AN ARTIST’S MARKET VALUE
When considering acquiring a work of art, it is natural to want to know more about the artist and the position their work holds in the market. An artist’s market value is one of the factors that may then come into consideration.
But how can you tell whether an artist has an established market value? Where can this information be found and, above all, how should it be interpreted?
There is obviously no need to reconstruct an artist’s sales history yourself. Specialist sources allow you to research an artist and obtain information about their market. The important thing is to understand what this information actually represents.
Where can you find information about an artist’s market value?
The simplest approach is to consult databases and publications specialising in the art market. Searching for the artist’s name makes it possible to check whether they are listed and to review the information available.
In France, Akoun is one such reference. It lists many artists and publishes market value estimates that can provide an initial indication.
For artists whose works have appeared at public auctions, there are also databases that record auction results. These make it possible to find works that have actually been sold, together with their description, the date of sale and the price achieved.
Market value and auction results: what is the difference?
Both are useful, but they do not answer exactly the same question.
An auction result indicates the price achieved by a specific work at a specific sale. It depends on many factors: the work itself, its size, condition and provenance, as well as the buyers present on the day.
An artist’s market value aims to provide a broader indication of the level of value associated with their work. Depending on the source consulted, the calculation method and the information taken into account may vary.
A particularly high or, conversely, particularly low auction result is therefore not enough on its own to reflect an artist’s overall market value.
How is an artist’s market value established?
An artist’s market value develops gradually from various factors related to their market. The prices at which works are offered, completed sales, the frequency of acquisitions and results achieved when works appear on the secondary market all provide different points of reference.
Galleries also play a role in this development. On the primary market — where a work is sold for the first time — they contribute to establishing and developing its price.
The artist’s career also matters: years of creative work, exhibitions, collaborations with galleries and continuity of practice help place the economic data in context.
An artist’s market value therefore does not arise from a single event. It becomes more meaningful when supported by a sufficiently established history.
Does having an established market value mean that all an artist’s works have the same value?
No. Market value relates to the artist and provides a point of reference; it does not represent a price that applies equally to all their works.
For a sculptor, the differences can be significant. Size, model, type of edition and production costs all affect the acquisition terms of each sculpture.
An artist’s market value therefore does not mean that a particular sculpture is automatically “worth” a certain amount. Its price depends on the specific characteristics of the work concerned.
→ Understanding the price of a bronze sculpture
Can an artist’s market value predict the future value of a work?
This is another important distinction. An artist’s market value reflects a known situation at a given point in time. It does not guarantee that a work will increase in value.
An artist’s market can evolve with their career, collector demand, visibility and transactions over the years. This evolution may be favourable, stable or go through less active periods.
Market value should therefore be regarded as a point of reference, not as a promise of future appreciation.
Alain Choisnet is listed by Akoun, which publishes a market value under his name.