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Contemporary art valuation

Two-day art business course

Short courses

● Fully booked

  • 30 September 2017, 10am — 5pm
  • 1 October 2017, 10am — 5pm

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"Dollar Sign" by Andy Warhol, at Sotheby's preview of "To the Bearer on Demand", a private collection of 21 works.

© Stephen Chung / Alamy Stock Photo

This weekend course offers practical insights into valuation – one of the most opaque aspects of the art world – focussed on one of the most exciting and buoyant sectors: contemporary art. Discussion of strategies as well as underlying structures, systems and practices provide insight in the process of valuation, drawing on both cutting-edge theory and real-world expertise.

Contemporary art has provided one of the most exciting growth stories in recent decades. The sector has grown in both breadth and depth with more artists from across the world and more collectors interested in a range of works of art. Record prices continue to astound and conflate expectations. On the eve of the busy art fair season and weekly gallery show openings in London, the topic of valuation and price is as critical as ever.

If one of the most controversial activities in the art world remains the attribution of value, valuation and the assignment of price – this is even more so the case in the contemporary sector where there is often no history and many artists are new and unknown in the market. Yet it is here that the biggest opportunities and risks exist.

Understanding the value of art, pricing and valuation is at the centre of much of the contemporary art world and a challenge which most people who engage with the arts will at some point face. Valuation and pricing is critical not only for the commercial art world but also for practicing artists as well as public institutions tasked with preserving and protecting art and cultural heritage for the future. It is also critical for collectors and anyone interested in working in the sector.

“There was a good combination of theoretical background and practical considerations. I feel like I can use it as a basis for further learning.”

The art of valuation and the value of art, course participant, February 2017

In the art world, valuation and the price setting process are often unclear and rarely openly discussed, let alone taught. However, ultimately both price and perceived value is critical to all trade and transaction in the art world. When carried out correctly it serves an important function in preserving art and cultural heritage.

This course covers a number of core tools and techniques linked to art valuation which are commonly used by art market experts. We will explore a step by step approach to art valuation which includes both quantitative and qualitative measurements. The course also provides overview of the art market sector and how value is determined by and across different market participants.

“Anna Lipskaya and Anna Dempster were energised, clear, concise speakers who were experts in their field.”

The art of valuation and the value of art, course participant, February 2017

Following on from the extremely successful general valuations course held at the Royal Academy in November 2016, this course includes specialist led lectures which introduce key concepts and guest speakers who provide real-world expertise. Small group workshops and discussion sessions enable hands on practice and application of core ideas. A number of key themes will be explored in detail including (but not limited to):

• The emergence and history of the contemporary art market and how it compares to past periods

• An overview of important characteristics of the contemporary market which helps determine value and impacts prices

• Discussion of how art market players such as galleries, auction houses and art fairs influence the value of art through their activities

• An introduction to emerging markets and opportunities away from traditional art centres

• A formal and practical framework for valuing contemporary art

• A review of key risks and opportunities and how to work with these in the market

• Discussion of different types of valuations used for different reasons and contexts

• Opportunities that exist in lower-price ranges and how to leverage and discover these

Specially designed case studies and small group exercises help participants re-enforce learning. Through real life examples and scenarios, participants will explore how and why values and prices can be highly contentious, challenged and re-visited and in time become the subject of heated debate and disagreement for international experts – and create both risks and exciting opportunities in the art world.

“Very enjoyable, very well organised. Very informative.”

The art of valuation and the value of art, course participant, February 2017

● Fully booked

● Cancelled

  • 30 September 2017, 10am — 5pm
  • 1 October 2017, 10am — 5pm

The Life Room, RA Schools, Piccadilly

£290 for one day / £540 for two days. Includes all materials, light refreshments, lunch and a wine reception at the end of both days.