The evaluation of a work of art takes place through the comparison of the main factors that influence the antiques market. These are: harmony and style, the quality of the material, the subject, the rarity, the value, the author, the period, the quality of the technique, origins, and the state of preservation… And above all the trend of the moment.
Over the course of the estimation process reference is made to the results of the leading auction houses, for the role they play in recording and verifying transactions in the world of art, and to the orientation of the galleries for their capacity to perceive current trends in taste.
The elements that come together to determine the cultural significance of works of art are historic, artistic, sociological, and cultural value. Indeed, what happens in art in Italy, France, Great Britain, and China over the course of the modern era radically influenced the rest of the world, remaining a main reference point for collectors even today.
In calculating an estimate is is necessary to indicate the purpose for which the evaluation is being made. For example:
- For sale
- For an auction
- For purchase
- For repurchasing or insurance purposes
These different possibilities may result in substantial differences in value.
It is just as important to take into consideration the market’s reaction to the estimate, which therefore must be realistic to be accepted.