Some previous threads here made me think about the monetary value of visual arts and I don't think we have a thread discussing this yet, so here goes...
In underground music cultures it's rather easy to calculate the factors that create an album's monetary worth. Production expenses, p&p, some extra to keep the labels and distros running, and some symbolic amount for the artist's hard work. It's obvious when someone is asking for too much, and no amount of pretensions will change this impression of most of those who are serious about buying and listening and know the ways of record business. Even with all the money leeches at eBay and Discogs, or maybe partially because of them, there seems to be a certain kind of concensual understanding about what constitutes a reasonable price in relation to an album's quality, availability, cover stylings/materials, etc. With visual arts it seems more arbitrary. The actual costs of a painting, collage or a photograph can be minimal, and it might have required just a little bit of actual work (not including all the thought-work one has to do of course, but that I think is too abstract thing to take into calculation). However, when selling the art one has to decide for the pricing, and depending of the social context, it seems it can go anywhere from very low to very high.
Basically I've heard two different arguments from visual artists working in the underground circles regarding their art, and both seem to have some difficulties in putting an actual price tag on the works. FreakAnimalFinland for example said that no reasonable amount of money will ever compensate for the loss of the actual piece of art he made (referring to the collages here), so he's reluctant to sell any. I take it so that the value would be reasonably high if any. Others on the other hand seemed to ask very little, or instead preferred to trade the piece for another piece of art or some albums, or give it away entirely free for someone who
should own it or deserves it. It seems to me that instead of a quick buck or significant social recognition, the art's economic value in these cases is determined by other factors, by the actual emotional content and meaning it has for the creators themselves, creative communication with like minded people, etc.
And then there are those, whose motivations seem mixed, whose argument I didn't hear or understand. Let's take for example this Mimsy DeBlois, who's asking £850 a piece for her culturally appropriated faux-"primitive" doodlings. With a website that actively tries to sell the work, it's obvious that she wants to
get rid of it, so I'm getting the feeling that it's not about the art being so valuable to her that it has to have a high price. However, I'm assuming that the rationale behind the pricing justifies the amount. Riding on the reputation of Cut Hands, which after all the exposure in the Wire or whatever, is still pretty underground, with a target audience of mostly relatively poor and middle class people, and yet setting the price tag according to the principles of "art world". With no gallery connections or recognized high art credentials which would make it understandable – yet questionable – the price is too high for most people in the potential target group, the actual underground, and certainly too much for anyone involved with actual vodou in Haiti. Something constitutes the price, but what? It may very well be that my impressions are totally misguided, and she's a respected artist in her own right, with credentials, exhibitions, etc, and the quality oils she mentions costed too fucking much, but even in that case this phenomenon persists, it's not just one case. Hell, there's even
this (operating on a significantly lower level though!) This is not about the individual but about the dynamic.
I want to buy a very simple and minimalistic xerox-copied A4 collage from a friend, who in addition to being a hairy underground animal happens to have some part of his body in the official art world as well. He promised it to me for a discount price of 150 euros, which I think is rather much for a xeroxed paper, but on the other hand I understand this particular work's value, based entirely on an intuitive, irrational feeling, and I'm willing to pay for it (one day). In my case I think this is an upper limit for this kind of art, anyway. I know that had the same piece been made by someone from another kind of social and mental context, the price could have been different, but it doesn't bother me at all as I really want to see the picture on my wall and I'm willing to pay for the experience.
What is the highest price you've paid for a single piece, or how much would you be willing to pay for an inspiring picture, and why..?