How are pieces of art valued _$€?_by collectors? “a small window on the NFT world”.
Hello Medium!. Today I’d like to discuss about the way art collectors value their best pieces of art and why.
After being inside the NFTs world for over than 2 years I think I had the sufficient experience to wonder this question to myself; it’s very common to see average quality artworks on SR or other marketplaces obviously on my personal opinion that have got considered gold standard by a tight circle of art-collectors who are willing to spend also thousands or, sometimes, millions of dollars for a piece of art that personally, I would have considered good, yes, beautiful, why not, maybe amazing, even though I would never have spent even 1.000$ for it to possess it. Other times, It happened to notice really AMAZING works, even paintings, that letterally turned me on, leaving me dizzy and without words as much beautiful and outstanding that work was, either for the concept or the sofistication which it was realized with technically speaking to be under-valued and poor appreciated by the collectors crowd that tend to ignore them, letting this creations riding inside the blockchain platform for a long.
What is the criteria with which collectors choose the operas to buy and how do they determine the price to spend? this is a reasonable question that, in my opinion, do not find a solution or an objective answer. It is known, people choose their best purchase by superficial use, passion, economy, earning interests, omologation, to be cool, to be trendy, or simply, because they have money to spend. I do not know, all those were possibilities but let’s try to make order by these 4 steps of criteria that I found after hours and hours spending on thinking on it:
- YOUR TRAFFIC AND POSITION AS AN ARTIST
Collectors tend to give more value to artists that have big views and online traffic towards their pages, socials, associating the big numbers of visibility and followers to a sign of a success instinctly deciding to invest in those artists.
2. NUMBER OF YOUR PAST SALES
If you sell frequently and high prices it is a sign that it is convenient to invest on your art. Collectors are very selective, and do not want to waste their time, expecially their money, in something that it is not “trendy” and it is not requested by the artmarket, although beautiful that piece could be.
3. HOW “COOL” YOU ARE AS ARTIST
You make amazing art, great concept and story behind but you’re not cool and you not follow the tribe? sorry you’re fucked. . . I’m joking :), but if you do not belong to a specific group, you won’t be valued too much such so easly. (For instance, I daily see artists that I consider cool under-valued or not payed).
4. WHAT KIND OF ART YOU REALIZE
Yes, I think it is one of the most important criteria, maybe the main. It’s linked with the trend, but even if you create cool art but choosing the wrong GENRE, it will be hard for you to “ride the wave”.
I create 2D abstract paitings the most, they are enough requested I think, but not as 3Dart or 3D motion art genre. This stuff is highly valued and highly sold every day, on the NFT art market.
So, at this point I think it is enough clear that to be successful in the art market you must be 2 things the most: “trendy” and “in the group”. If you do not like to have too limits and you like to do what you like you can do it, personally I do, but it will be difficult to reach out great levels, at least in my opinion. Saying that, it depends also where you want to go and to get to, personally I sell anyway, and I like the way to consider myself free and to choose the genre of art that I like to do more and I’m good in.
Sometimes people suggested me: <why you do not do 3D motion?, why you do not use Blender?>. Well, I responded them, <why you do what you’re telling me to do?>, the answer back was obvious.
Thank you guys to get till here, hope you will find the article useful and remember, it was a my opinion and not a magical guide that resolve all the matters.