Why Original Artworks Hold Their Value
Are you familiar with the age-old argument about the true value of original artworks versus their components? For example, consider the Mona Lisa versus a copy of it—essentially, one of the most famous original artworks in history versus a reproduction. The comparison highlights a fundamental question: why are original artworks so valuable?
Understanding the Cognitive Leap
The value of original artworks isn't merely a superficial assessment of materials or aesthetics. Instead, it lies in the complex cognitive abilities that humans possess. Homo Sapiens have had a unique capacity for abstract thinking and developing fictional entities based on shared beliefs and values. This ability, which has been attributed to emerging around 70,000 years ago, is often described as the 'cognitive leap.'
This particular cognitive trait isn't merely a luxury; it's what allowed Homo Sapiens to become the dominant species among our primates. Our ability to create and value unique works of art is more than just a superficial appreciation. It reflects a deeper human need to express and preserve our intangible values and emotions.
The Value in Creation
Consider the example of a hand-woven sweater. Though it costs only five dollars in wool to make, a handcrafted sweater can be worth hundreds. The significance lies not in the materials but in the act of creation. Each piece of original art is a direct product of the artist's vision, skills, and dedication. The uniqueness and individuality of these works are precisely what make them valuable.
The creator's intent and artistic expression add an intangible layer of value that cannot be replicated by mass-produced goods. This value extends beyond the physical item to include the story of the artist, the time and effort invested, and the emotional connections viewers might form with the work.
Market Demand and Artist's Legacy
The value of original artworks can be influenced by market demand, the rarity of the work, and the artist's legacy. Just as a hand-woven sweater might become more valuable due to the owner's story or the fashion trend, the same principle applies to original artworks. Rarer pieces that are in high demand can fetch significantly higher prices.
When an artist passes away, the production of new artworks ceases, driving up the value of their existing works. This phenomenon explains why some deceased artists command incredibly high prices. For instance, a newly discovered authentic Vermeer could be valued at between 100 to 500 million dollars. Museums around the world would be willing to pay these astronomical sums to acquire such a piece, establishing the artist's place among the ranks of the most valuable and renowned artists in history.
Artists like Vermeer who have left behind a legacy of rare and valuable works can experience a sudden spike in value upon their death. The market realizes the potential scarcity of their work, leading to increased demand and higher valuations of their existing pieces.
It's crucial to understand that the value of original artworks is multifaceted. It extends beyond the physical materials to encompass the artist's skill, creativity, and historical significance. As we continue to appreciate and collect these works, we honor the enduring legacy of human innovation and artistic expression.
Conclusion: The value of original artworks stems from their creation by human hands, the cognitive leap that enabled such creations, and the market forces that shape demand. Understanding these elements can provide insight into why certain works command such high prices and why originality remains a central value in the world of art.