Hamidreza Shafiei; 4 Factors to Consider Regarding Artwork Price Increases

What will happen to the expense of art in future generations if the price of works of art does not rise to meet the desires of some people, and instead remains at a few hundred thousand dollars, for example?

IranArt : Hamidreza Shafiei, the manager of Vesta Color, says: The cost of living is becoming more and more of a global concern. People lament the rising expense of life everywhere they look, from the Middle East to Europe and America. Some refer to it as the post-coronavirus condition, which resulted in empty warehouses and drastically slowed output. Some even link it to a combination of the recession and increased raw material costs.

It is astonishing that some individuals think that the value of artwork, such as paintings and sculptures, should never rise, in spite of this widespread misconception. These contend that the art market did not stagnate considerably during the Corona period, and that raw material costs did not rise significantly following the Corona period.

Shafiei continues, These people have neglected to consider at least four factors:

1:

Based on the past three centuries' experience, art markets rarely face a negative trend, which is typically caused by war and major diseases.

2:

The artwork has become a capital good. It is immune to the sting of falling prices for a variety of reasons, including its strategic importance and the attention of banks and global economic cartels.

3:

Like other markets, the art economy is governed by supply and demand. Many nobles and renowned artists have substantially reduced their output in recent years. The fact that there hasn't been a global display of these greats in a long time offers as compelling evidence of this claim. It is only natural for the cost of artwork to increase as demand grows. Given the years of constant demand, it is evident that the prices of the late great artists' creations, like those of Picasso, Van Gogh, Edvard Munch, and Leonardo da Vinci, will rise rapidly and dramatically.

4:

What will happen to the cost of the art produced by future generations if the price of art does not rise and, for example, remains in the range of a few hundred thousand dollars and does not move higher, making art affordable for a large number of people?

In actuality, the world will stop investing in art if the price stays the same, and this decline in the value of the work will eventually cause young artists and art students to lose the opportunity to support themselves via their artistic endeavors.