An artwork can have many lives, and many more values, depending on how, when, and where it is bought or sold, and this course explores various definitions of value, as well as the factors that can create (or detract from) it.
From an appraiser’s perspective, students learn how to properly research an object from “start to finish” to determine market price and understand the impact condition can have on value. Through presentations and interviews with industry experts, course lectures explore the pros and cons of different sale models, including a sale at public auction and the gallery level, and advise on how to keep track of values in the fast-paced global art market. This course also outlines what to look for when evaluating different media, including paintings, drawings, photographs, and prints, to provide students a deeper understanding of how to evaluate an artwork independently.
Adjunct Faculty, Online and Summer Institute, New York
Emily A. Thompson is a Fine Art Specialist at Emigrant Bank Fine Art Finance and its art advisory and appraisal firm, Fine Art Asset Management, with 20+ years of experience in art market research and valuation. Ms. Thompson has worked as a Senior Fine Art Appraiser at companies in the industry valuing artworks for the purpose of financial planning and donation, insurance coverage, and litigation support.Read More
Week 1: Uncover art market basics and understand the key differences between market definitions.
Week 2: Understand key factors that affect primary and secondary market levels.
Week 3: Identify the importance of medium and market research with a focus on paintings and works on paper.
Week 4: Expand upon methodology practices through market research, with focus on prints, multiples, and photography.
Week 5: Explore pricing methods in auction and gallery models as well as best practices for novice collectors.
Week 6: Examine the relationship of condition and value and the merits of consulting conservators.
This flexible online course is delivered in weekly modules consisting of recorded lectures, instructor-guided discussion boards, and supplementary resources. The course will include a final project with personalized feedback from the course instructor. All participants will have read-only access to the course materials for an additional 90 days after the course end date.
To identify and analyze essential value characteristics that affect the pricing of art.
To identify appropriate research tools and to perform research in order to assess artwork valuation.
To identify and describe the pricing of artwork at both the primary and secondary market levels.
To recognize how condition and conservation can impact the value of artworks.
For successfully completing this course, you receive a verified Certificate of Completion from Sotheby’s Institute of Art as well as 2.3 IACET Continuing Education Units. *
Our digital certificates allow you to share new skills with various social media platforms, including LinkedIn. Successful completion is defined by each instructor in the course syllabus and consists, at the least, of regular, thoughtful participation in online activities and timely submission of assigned papers or projects.
*As an IACET Accredited Provider, Sotheby’s Institute of Art offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard.