5 Ways to Drive Value in Your Artwork

10 Jan by Mike Hayes

5 Ways to Drive Value in Your Artwork

Can you guess how much fake artwork is out there? It’s likely more than you think. According to an artnet news article, over 50% of artwork is fake! 

When we consider limited edition prints, for example, artists must ensure they are getting top dollar for their work while also driving anticipation for future limited releases. A marketplace drowning with counterfeits makes it that much more difficult to gain customers trust, and ensure no one is out there taking credit for their work. But luckily, artists don’t need to worry, because help is at hand. 

As an artist, it’s important to always drive as much value into your work as possible, and below are five key things you need to consider to ensure you do.

1. Provenance. This is the ownership history that the artwork has developed following its entry into the secondary market. 

2. Condition. What kind of shape the piece is in? As we all know, untouched, non-tampered artwork today will hold more value than one which has been tampered with over its years in existence. 

DYK? “Fifty years ago, American buyers of Impressionist paintings liked them to be bright and shiny, which sometimes led to them being overcleaned and heavily varnished. Many galleries and even major museums automatically relined these paintings, gluing a second canvas to the back of the original, often using heat and wax in the process. Today, buyers of Impressionist works will pay a premium for paintings that are not relined and have only modest restoration.” (https://news.artnet.com/market/defining-the-value-of-art-27673)

3. Authenticity. Arguably the most important part when it comes to limited edition and original art. Again, we can’t always be sure or trust what is going on in the industry, so protecting original art needs to be top priority prior to releasing it into the market. DNA tagging systems have proven valuable to artists selling their artwork to ensure counterfeiters do not have the ability to take advantage of them.

4. Exposure. Without exposure, you can’t drive demand and in-turn you cannot drive the value into your work required to be successful in limited edition releases. If you have 100 limited edition pieces with only an audience of 50, chances are the work is not going to have as much embedded value as it would if you were to only release 25. 

5. Quality. Without quality, you can still be successful if your buyers value it’s provenance, but if your quality is your USP (unique selling point), you need to ensure you are not sacrificing it.

Ensure you keep these five things above in mind when selling limited edition artwork, because each and everyday counterfeiters are getting smarter, and if your work is not protected, you will struggle to drive the value into your work and develop a brand that people want to associate themselves with (because remember, at the end of the day, you are a brand!). 

What’s top of mind for you when selling or purchasing limited edition artwork?

Interested in learning more about unique anti-counterfeiting and brand protection solutions? Let’s talk.