What’s Behind the Prices of Oil Paintings?

Published: Jun 21, 2014 | Category: Thinking

As we all know, art can cost a fortune. Most people see it as an investment while others do not really see the value in purchasing and collecting art. Regardless of if we value art or not, it is going to be very expensive. Realistically, art is simply canvas and paint. So, why is it so expensive? Sure, to us it just looks like paint and canvas but to artists, it means numerous hours of painting and hard work. With the different mediums and styles, it is really hard for artists to focus on one and really do it well. Just as there are paintings that are very nice which cost a lot more versus paintings that are just okay and are significantly cheaper.

There are many factors that determine the cost of a piece of art. You really get what you pay for when it comes to art. Some things you want to consider when you are buying art is the physical characteristic of the piece as well as the artist reputation. Artists who are well-known and have a better reputation usually produce paintings that can cost a fortune. Originality also plays a big role in the cost of the piece. If a painting is unique and nothing like what is normal, people usually pay a premium for it. For instance, it might be a limited edition piece specially created by the artist at a certain place or time. All these factors can contribute to the overall cost of the painting.

Artists who are just starting out and not very well known are obviously selling their paintings at a much more affordable price. This is because no one really knows about them and they are not a famous as some of the other artists out there. Artist reputation has a lot to do with how much a piece of art costs because famous artists who already have their names out there can jack up their prices since people already know and love his work. New artists cannot do the same because they need to build that trust with people in order for them to get to know and respect their work.

The physical characteristics of a piece of art can highly contribute to how much you pay for the piece. If a piece of art is larger, it is obviously going to cost more. Artworks that use different mediums will also range in pricing because oil paints are more expensive than acrylic paints. Also, oil based paints are harder to work with. All these details contribute to the overall pricing of a painting. So, it really depends on preference. Depending on what you can justify paying for a piece of painting is the type that you should consider. Preference is key here. Some are willing to pay a fortune for a piece while others who do not really see the value in art will not pay much for a piece.

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