What makes art valuable

Artist reputation is the foundational variable. An artist's position in the critical and institutional hierarchy, whether their work is in major museum collections, whether it has been included in significant biennials and group exhibitions, whether it is written about seriously: these factors determine the ceiling. Provenance is next. Where has the work been? Which collections has it passed through? A work with a significant exhibition history and illustrious prior ownership is worth more than the same work without that context

Condition affects value more than most buyers expect. Paintings are sensitive to light, humidity, and handling. A work with restoration work, even well-executed restoration, trades at a discount. Authenticity and attribution can transform value entirely

A work attributed to a significant artist can increase tenfold or more in value if the attribution is confirmed, and decrease similarly if it is challenged.

CollectorGrade take

Provenance does more work in the art market than in almost any other category. A great work with a great history is worth significantly more than the same work with a thin or uncertain ownership trail. Research provenance carefully before buying and document it carefully when selling.