Estimation Contemporary Art Valuations

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Contemporary Art Valuations

Conventionally, contemporary art refers to artistic creations dating from the years 1945 until today, but the use of this expression remains controversial within the artistic world. Contemporary art differs from “classical art” both in its approach and in the mediums used. Works dating from this period are generally connected with the thoughts and beliefs of the artist and is not necessarily aesthetic in its approach. The viewer is therefore encouraged and led to reinsert the work into a specific context rather than appreciate is directly through the senses alone.

Contemporary art can also be considered to be more accessible to a wider audience. Several artistic movements have emerged such as Pop Art or New Realism, defending specific ideas and using new media such as Martial Raysse’s installations or screen prints by Andy Warhol. The themes of contemporary art are diverse, often addressing globalisation or the modern consumer society.

Contemporary art is recognised by museum institutions and holds an important place on the art market, it is not uncommon to see prices ignite at auctions. Roy Lichtenstein’s “Nurse”, for example, was sold for $95.4 million in 2015. Major private collectors have also displayed significant interest in contemporary art. Recent creations have become popular with classical museums such as the Palace of Versailles which has presented several exhibitions from contemporary artists like Jeff Koons or Takashi Murakami.

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