Art is one of the most subjective things there is. It has to do with emotions, with sensations, with what message we want to convey with what our instinct suggests to us.
For these reasons I believe that it is really difficult to establish a way of giving value and also what do we even mean by “Value”?
For someone, the value may be just how much money it takes to own work, but what if the value also depended on: how many people made an offer before it was actually collected, or if it depended on how many people felt happier after seeing your painting? How many people have you inspired? How many emerging artists have decided to follow their dream thanks to you? How many emotions are you able to move with a single painting?
So that’s what I mean by “value of a work of art” and honestly money it’s just a small factor.
An artist has a task and it is to create an impact, to communicate a message, and to shake society, he achieves this through very hard work both mental and physical, through a lot of introspection, often doubts himself, he cancels himself completely sometimes he does not eat or sleep, he certainly has many mood swings and many other things that an artist will never reveal because he is ashamed to tell.
An artist goes through all these things, creates something that is just the product of his mind, a painter takes a blank canvas and creates a new universe, a portal to a parallel universe, creates a 3D illusion on something that is two dimensional, this is pure magic!
When an artist can perform this successfully, with constancy, when the artist is able to produce and sell in abundance and his record and portfolio are of proven quality and quantity, well that is luxury in the broadest sense of the term, and that artist certainly deserves all the due financial compensation.