The art market is as fickle and hard to predict as any other. The artist’s reputation greatly affects value, so research the artist’s past achievements and recent prices.
Here are some of the factors that indicate whether a picture is likely to have significant commercial value:
Reproduction or original? Original paintings tend to have a higher value than reproductions of paintings (a museum print of Van Gogh’s sunflowers has minimal value compared to the priceless original). However, some antique engravings are highly sought after, even though they are prints rather than paintings. Certain film and advertising posters are collectable too. Conversely, unsigned original paintings of dubious quality have little commercial value.
Limited edition prints are produced in limited numbers, often between 50 and 850. Their scarcity can make them collectible, but the fact that a print was published as a limited edition is no guarantee of value; if the artist or style has fallen out of vogue there may be no market for the print. However, there is a secondary market for some limited editions. Limited editions are generally signed by the artist, which can help make them collectible. Those that are co-signed by celebrities (such as war heroes or sports people) may have commercial value.
Artists’ prints are not photographic reproductions of paintings. Woodcuts, linocuts, engravings and etchings are all examples of artists’ printmaking techniques. These prints are handmade by the artist and are not copies of paintings. Artists’ prints may have more value than reproductions, but this is not always the case. Factors listed below such as quality, condition, subject matter and size are important, as well as the reputation of the artist.
Age is unfortunately no guarantee of value. Unsigned Victorian watercolours commonly sell for £200 or less. There are thousands of 19th century prints on the market, many of which are small decorative bookplates (pages torn out of books) that may be worth a small amount if their subject has commercial appeal.
Signatures. If works are signed, and you can read the signatures, then you can research the artists online. Artnet.com and artprice.com are widely used in the trade. Neither site includes works with a value under £500 but they list thousands of artists and millions of prices achieved at auction. If you establish that your artist’s work has commercial value, you can search online for galleries who handle the artist’s work. Unless they are of exceptional quality, unsigned works tend to have little value.
Condition. If the colours have faded, the artwork may have little value. Fading is irreparable and has a big impact on value. If the edges are trimmed or the picture has been badly restored, the value may be diminished. A picture in pristine condition is inevitably more desirable, though some types of discolouration and dirt can be removed by a restorer.
Subject matter impacts on value. Paintings of beautiful ladies in attractive gowns are generally more sought after than those featuring stern-looking men in suits. Similarly, sunny landscapes are more saleable than cloudy ones. Hunting scenes and religious artwork is out of vogue. Pictures of unusual sports or rare breeds of dog may be collectible.
Quality. Some pictures have the ‘Wow!’ factor. They are clearly well painted and the composition is visually appealing. A complete set of antique engravings may have commercial value, just as a set of dinnerware is more desirable than a single plate.
Some aspects of quality are hard to gauge unless you are an expert, for example, prints may be worth more if the hand-colouring is original, rather than added at a later date. Restoration may be hard to detect without the aid of an ultra-violet lamp. Prints that were made when the metal plates were new may be more ‘crisp’ and detailed than those made once the plates became worn out. Popular prints were often printed many times, and earlier editions are more desirable to collectors, even if new plates were made. The sitter in certain paintings may turn out to be historically significant. There is an endless list of complex and subtle factors that impact on the value of a picture.
Size and medium. A large oil painting is likely to have a higher value than a small sketch by the same artist. The wide range of prices fetched by the same artist’s work is often explained by differences in size and medium.
