Based on one widely recognized factor, art's value often increases primarily due to time.
The value of an artwork is widely recognized as being inextricably linked with its proximity to the original date of completion. This means that as time passes, the value tends to change, often increasing.
In the context of the contemporary art world, this link between time and value can be understood partly through standard market inflation.
- Key Factor from Reference:
- Time: The most widely recognized factor for increasing art value.
- Proximity to Completion: Value is linked to how close it is to the date it was finished.
- Contemporary Context: Market inflation helps explain the time-value link in modern art.
While other elements influence art valuation, the passage of time from its creation date is a significant, recognized factor contributing to an artwork's increase in value, particularly in relation to market forces like inflation in the contemporary market.
