How Art Appreciates

British artist and former Tate Prizewinner Grayson Perry opines on what makes art appreciate in value (thanks AJ). He writes:

"I think by far the most important factor in making art works valuable is what experts say and write about them. Respected figures in the art world hold the power to increase the value of a given artist’s work by bestowing art-historical importance and "specialness" upon them. Academics, curators, critics, powerful gallerists and collectors can give out extremely valuable brownie points. A work purchased by a leading public institution boosts an artist’s stock, which is why dealers will offer considerable discounts to museums.

A write-up in one of the heavyweight art mags such as Art Forum or Art Monthly spreads the consensus. One reason that I was so surprised at winning the Turner was that I had never [been] featured in one of these publications. Maybe this is the art equivalent of climbing Everest without oxygen."

Having lived in Great Britain for many years, I know how Brits are obsessed with "class" in all manners and forms, and so it is no surprise to me that Perry's conclusion has to do with class. Read the entire article here.