Only few people can estimate the value of art, especially of modern and contemporary art. Andy Warhol, Salvador Dali and a few others decided themselves that their works are valuable. Personal branding was in their genes. But most artists are depending on the spectators and intermediates, on the ‘arts market’. They may be discovered or suffer all their lives.
A sharp eye and knowledge of the market will help to estimate the present value of a work of art. That may be sufficient for decisions driven by fascination, but wise decisions require a down-to-earth sense for the future value of art. Sometimes it takes more than one generation to disclose the timeless value of an art work and to reach a level of recognition and fame.
Genuine collectors have the vision, ánd the patience. But only a limited number of experts also have the sense. Over decades these experts developed their nose for future value, which is another category than trend watching. Whenever money is not an issue, everyone should feel free to follow his or her intuition. But for most of us it may be wiser to ‘rent a nose’, i.e. to find the right expert that may prevent us from premature decisions concerning buying or selling. Expert fees or commissions can be regarded as an insurance against unwise investments or divestments. When working together sharing the knowledge and passion of these experts will prove to be just an inspiring spin-off.