How Is Art Priced? Inside the Market’s Hidden Forces
May 23, 2025What actually determines how much a work of art is worth?
It’s not just about how talented the artist is. When an artwork goes under the hammer at auction, many factors come into play: the artist’s reputation, provenance (the documented history of the work), condition, demand – and, not least, how it is presented.
Some works end up in major international auction houses and sell for millions, while others remain unnoticed.
Take, for example, Edvard Munch’s The Scream, which sold for $120 million in 2012. The price wasn’t driven by its iconic imagery alone – but also by Munch’s international renown, the work’s solid provenance, and a presentation that captured the world’s attention. These are the kinds of factors that decide whether a piece ends up on the front page of the paper – or in a forgotten storage room.
But how can you actually make sense of all this?
Scream, 1896, Edvard Munch
This is where many new collectors make mistakes. They buy without knowing what to look for, how to verify authenticity, or whether the price is fair – and what might actually be a smart purchase.
There are few places where you can just ask for guidance. Galleries, museums and artists all have their own roles – and their own interests. Using a professional art advisor can be extremely helpful, but it’s expensive and often out of reach for most.
So what can you do to gain clarity and feel more confident navigating the art world?
-
Stay informed via platforms and market news
-
Visit international art fairs and biennials (though they can be costly…)
-
Use structured, educational resources to build your understanding of the art ecosystem - like The Art Trotter's online Art Club
-
And take advantage of accessible digital tools
Photo: www.barnebys.com © Barnebys
One of the platforms I personally like is Barnebys – a fantastic resource whether you’re collecting, buying, selling, or just trying to keep up with the shifting art market.
Barnebys is a free search engine plattform that gives you access to auction sales and art pieces from over 2,000 auction houses worldwide. With Barnebys, you can:
🔎 Search for artists, collectables and antiques – and see what’s currently for sale and at what price
📊 See prices from past sales – a valuable free tool giving you a quick first understanding of pricing and market value of specific artists and categories
🗞️ Lear about market news and trends with their newsletter
🎧 Follow conversations with collectors, experts, and key market players with their podcast
Pontus Silfverstolpe ©
Recently, in The Art Trotter's Art Club, we had the great honour of welcoming Pontus Silfverstolpe – art expert, author, co-founder of Barnebys, and one of Scandinavia’s most influential voices in the art world.
Gaining access to such in-depth insight – directly from someone who knows the art market inside out – is rare, and it's precisely the kind of opportunity that makes being part of a knowledge-sharing community so valuable.
Pontus helped us see how the value of art is never just about aesthetics – it’s shaped by economic forces, cultural context, and the stories attached to each work. He showed us how market trends are influenced by everything from currency shifts and geopolitics to pop culture and celebrity collectors.
We explored why provenance is crucial to a work’s value and what role it plays when auction houses evaluate pieces before they’re accepted into a catalogue. We also gained clarity on what makes some artworks soar in value while others remain unnoticed – and why understanding these mechanisms is key for anyone interested in collecting or simply appreciating art more deeply.
Banksy’s Love is in the Bin made headlines when the artwork self-destructed through a hidden shredder just after being auctioned – turning a stunt into art history, and a £1 million sale into a £18 million icon.
We were reminded us that art is not just something to be admired – it’s a reflection of power, identity, belief, and the society we live in.
All these insights reveal a crucial truth: understanding how art is valued isn’t reserved for experts – it’s something anyone can learn. Once you begin to grasp the forces that shape perception, price, and prestige, you start to see art with a whole new sense of clarity.
Take the first step today – sign up for our Art Letters below and start exploring the art world with us.
Be sure to follow us on Instagram too – @the_art_trotter
Sign up for our art updates!
Enter your email to receive information, inspiration and tips about art, art history, art events and the wonderful world of art!
By entering your name and email, you agree to receive emails from us with inspiration and tips about art and the art world. You can unsubscribe at any time by pressing Unsubscribe.