Adolfo Goldberg collector and owner of the gallery Enmarcarte in Costa Rica, and has contributed an excellent article on the subject to Elfinancierocr.com.
"... some works reach values beyond comprehension. How can that picture, which is not even figurative but abstract, and made up of splodges cost so many millions of dollars? This is usually the public’s logical reaction. Invariably, people are unable to understand valuation of art and although there are theories to explain the designation of the price, most are very complex.
Few commercial transactions cause as much confusion as the pricing of a work of art. Why would a painting, a sculpture or an installation be worth so much? Why was the painting ‘A Portrait of Dr. Gachet’, by Post-Impressionist Vincent van Gogh's (1853-1890), an oil on 66 x 57 cm canvas, capable of reaching a price tag of $82.5 million when sold to a Japanese industrialist in 1990?
Normally, we must first analyze the variables involved in the process.
1 - Evaluate: How much the investment amount is?
The works of young upcoming artists can be purchased at affordable prices. Prices increase the more dedicated the painter has become.
2 - Meet the artist. Seek advice from a gallery if you want to get into the world of collecting. That way you can be sure of the quality of the work.
3 – You should like the piece of art. You will live with it for many years. Try to reconcile this with the investment and advice given.
Source: elfinancierocr.com
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