Speaker(s): Evan Beard
Pricing Art: What Drives the Value of Great Paintings?
A frequent theme from journalists and critics alike is that the market for high art is irrational.
This session will demonstrate to the contrary - that there is a predictable path for an artist’s work to become valuable and that the price of great works of art are based on a few key drivers.
The most important factors that affect the price of art are its rarity, condition, and provenance. A work of art is considered rare if there are few other examples of its kind in existence. The condition of a work of art refers to its physical state and whether or not it has been restored. Provenance is the history of ownership of a work of art and can provide evidence of its authenticity. However, the current market conditions and the popularity of a particular artist can also influence pricing. Demand from buyers can certainly drive up prices, as people are willing to pay more for something they really want. As a result, pricing can be a complex process that takes many different factors into account.
Evan Beard Shares His Expertise on Pricing Art
Mr. Evan Beard, the Global Art Services Executive with U.S. Trust, Bank of America Private Wealth Management, will cover:
- The most important factors that affect the price of art
- The unique economics behind the price of a work of art
- A new perspective on collecting art with an eye on investment
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Evan Beard is the Global Art Services Executive with U.S. Trust, Bank of America Private Wealth Management. Headquartered in New York City, Evan leads the bank’s outreach to private and institutional art collectors, investors and artists nationwide. He directs a team of specialists who provide a suite of tailored offerings to a select group of families, auction houses, museums, endowments and...