The price of an artwork is influenced by a complex interplay of factors that include supply and demand, the artist's career stage, medium, provenance, market trends, and emotional value. The primary art market, where artworks are sold for the first time, relies heavily on galleries to set prices based on reputation, education, and quality. Meanwhile, the secondary market, involving...

With the emergence of the global art market in the latter half of the 20th century, art itself became a commodity. The financial volume exchanged in buying and selling artworks surpassed all expectations. As a result, art began to gain more recognition not only through aesthetic standards but also through its rising material value. This shift—the transformation of the art world into...

This article initiates a discourse on the preliminary considerations regarding the capabilities and hazards associated with art investment. Prior to delving into the merits and drawbacks of art investment, it is imperative to underscore the conceptualization of art as an asset. Within this framework, art is construed as a financially lucrative entity. Nevertheless, it is imperative...

The "Economics of Contemporary Art" by Elisa Zerloni deals with the markets, strategies and star making system in art. A part of this book is dedicated to auctions and the secondary market, which you can read a summary of below.The following text, is from the Persian text translated by Hamidreza Sheshjavani and Leila Mirsafian and published by Farhangistan Honar Publishing.

In recent years, the use of artificial intelligence in the art world has attracted a lot of attention. Most of these attentions have been focused on the production of artwork by AI, while one of the important applications of artificial intelligence in art can be valuation, pricing and price prediction in auctions. Therefore, in this article, we have tried to point out the art apprai...

Drawing ranks second after painting in terms of sales value in the art market. This short essay discusses about the medium of drawing and its place in the art market.

Although artists, due to their fame and bargaining power, may sometimes be able to dictate prices to dealers, it is usually the dealers who have the final say in determining prices. This is because, in addition to having to work with these prices, they also have more information about the market. However, dealers deliberately do not price each artwork individually and on a case-by-c...

This article was written by Mohammad Reza Moridi and Mohammad Javad Mohammadi and has been published in the book "Economics of Iranian Art". Pricing works of art is an important but ambiguous part of the art market. Arbitrary evaluations and pricing that only create symbolic value for the work and even prevent the sale of the work add to this ambiguity and reduce the buyer's confide...

The present article examines the impact of artist death on the pricing of works of art, based on the fact that artists produce their durable goods in a competitive monopoly market. This article was translated into Persian by Shiva Mohammadi and published in the special issue on the 15th Tehran Art Auction in January 2022.