Art valuation, an art-specific subset of
financial valuation, is the process of estimating the potential
market value of
works of art and as such is more of a financial rather than an
aesthetic concern, however, subjective views of cultural value play a part as well. Art valuation involves comparing data from multiple sources such as art
auction houses, private and corporate collectors,
curators, art dealer activities,
gallerists (gallery owners), experienced consultants, and specialized market analysts to arrive at a value. Art valuation is accomplished not only for collection, investment, divestment, and financing purposes, but as part of
estate valuations, for charitable contributions, for tax planning, insurance, and loan
collateral purposes. This article deals with the valuation of works of
fine art, especially
contemporary art, at the top end of the international market, but similar principles apply to the valuation of less expensive art and
antiques.