What Do Buyers Look for in a Work of Art?

The worlds of great artists such as Monet or Van Gogh are driven by passion and self-motivation. But what happens to their work of art when it leaves their possession? Is it still surrounded by the same affection for the arts as it was conceived with? This all depends on the buyer. Every great painting has two stories; the process in which it was made and the story of where and with whom it has been. Where a piece of art has been depends on the buyer and that depends on what the buyer is looking for. Different things attract different buyers.

There are many reasons one could purchase a painting. The most obvious reason for buying a is the buyer is attracted to the looks of the piece. Assuming they have the money to afford it, maybe the painting would go well with their personal views, they have an unexplainable connection to it, or it would go well with their home’s color scheme. They could just really enjoy the quality of the piece and the artist’s skill shown. There are so many things more than looks that attract buyers; the history of the artist, or the reputation or provenance of the piece. Pieces with well known artists attract more attention, people like to be able to recognize an artist’s work and be knowledgeable about who/what they’re buying. It’s also attractive when a piece has a history of reputable owners such as Rothko’s “White Center.” This piece was owned by David Rockefeller, he bought it for $10,000 in 1960 and when Rockefeller went to sell it at an auction in 2007 it sold for 72.84 million. If someone famous owns a certain piece when it goes up for auction it attracts more publicity therefore more competitive bids.

There are some other things buyers look for and they’re a bit more economically motivated. Like most things the price of fine art is on an upward trajectory. The Mona Lisa was valued at about $100 million in 1962 but due to inflation was valued at $760 million in 2012. Of course all paintings are not worth as much as the Mona Lisa, but, buying paintings is an investment. Also just like owning a luxury vehicle owning a renowned painting is also a luxury and a way of flaunting your money. Like clothes and houses and other things we choose to spend our money on, the art we purchase reflects a bit of ourselves. People realise this and some use spending money on art to show off that they’re of high social status. Some reasons for buying art are very superficial.

Overall what a buyer looks for really depends on the buyer themselves not what they are buying, everyone has different motives and weaknesses. Part of a work of arts personality is what it has been through and the traits it holds to attract people to it.