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Rarity & Provenance
Another factor to consider when valuing your art collection is rarity. Limited edition or rare artworks typically have higher value, since they are not readily available in the market. Artworks by era-defining artists like Andy Warhol, David Hockney, and Banksy have become some of the most highly valued artists of our age – and their rarer works often carry further value. Likewise, signed prints and editions will offer command higher sale prices than unsigned works. The rarity of an artwork gives it a noteworthy status in the history of art itself, which directly contributes to the distribution of value in the artist’s market.
Likewise, provenance is another critical consideration when it comes to valuation. The history of ownership, exhibition, and past sales can impact value significantly. One of the risks involved with sale through auction, for example, is that your artwork might be ‘burned’ if the sale is successful. With auction, there is a lot riding on the night of the auction. If the sale is unsuccessful, the provenance of your artwork might be hindered: putting the reputation of your artwork in jeopardy.
At MyArtBroker, we never ‘wait to see what happens on the night’. We post live supply and demand indication from our private network directly onto our Trading Floor. This way, you can see where opportunity lies in the prints and editions market place – in real time, and for free. Likewise, our print market index affords you a bespoke glimpse into the value growth of your artwork and entire portfolio. With MyPortfolio, you can input the date you bought you artwork and the price you purchased it for. Our algorithm does the rest, calculating the value growth since you bought it and showing you the compound annual growth rate of your collection. With us, you can take your time to sell your artwork and enter the deal with industry expertise and cutting-edge technology by your side.
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