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Fine art refers to an art form practiced mainly for an aesthetic value rather than for its functional value. The category includes painting, drawing, sculpture and printmaking. Fine art is often contrasted with decorative or “applied” art with a more functional purpose, including furniture and architecture.
In determining the value of fine art, factors such as artist, date, provenance, medium, and condition are all taken into consideration.
Artworks by well-known artists with an established market presence will have increased value and a significant, documented provenance could also affect value. In dealing with fine art, the medium also becomes important. Paintings and sculptures tend to be larger and are usually more valuable than drawings and prints.
The condition is often essential in establishing value as well. Any current or previous damage and subsequent restoration should be taken into consideration. Drawings and prints, which usually have paper as the base or support are usually more delicate than painting and sculpture and tend to have condition issues over time.
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