The Role of Aesthetics in Art Investment
There have been many different views and comments by people in the art world as to whether or not the aesthetics of an artwork is the primary motivator of the value of a work. Unfortunately there is no simple answer to this question because there are too many variables to take into consideration and too many different scenarios to account for. There are however some important points that can be used when making decisions about which artist or artwork to invest in.
The value of an artists work can be positively affected by many different things such as controversy, awards, exhibitions, media coverage, association with other people in the public eye, etc. These scenarios have been shown to be able to raise the profile of an artist and increase the value of their work even if the art they produce is not of a standard that would normally warrant such an increase. People tend to react to hype and make emotional purchases based only on an often misleading escalated media profile. Once the hype has died down people will most likely realise if the value of the artists work and their higher profile does not reflect the quality and standard of the artwork that the artist has produced. This will almost certainly result in a correction of the value of the artists work and the artists profile.
It is those works that do have what it takes aesthetically that will continue to attract peoples attention and continue to increase in value beyond the hype.
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of artmarketblog.com, writes the art column for the magazine Antiques and Collectables for Pleasure and Profit and contributes to many other publications.