Art Appreciation As A Tool For Art Valuation: A Study From an Appraiser’s Perspective

Abstract

Art valuation is often presented as an objective process grounded in market data, provenance, and comparable sales, while art appreciation is commonly regarded as subjective and personal. This study challenges that dichotomy by examining art appreciation as a functional and methodological tool within professional art appraisal. Adopting a qualitative, appraiser-centric research design, the study draws on in-depth interviews and appraisal documentation to explore how aesthetic judgment is cultivated, articulated, and integrated into valuation practice. The findings reveal that appreciation operates as a structured form of professional expertise, guiding the interpretation of market evidence and enabling appraisers to justify valuation outcomes across institutional contexts. Rather than undermining objectivity, subjectivity is shown to be disciplined through shared norms, training, and justificatory reasoning. The study contributes to valuation studies and cultural economics by foregrounding the appraiser’s role as a mediator between artistic meaning and economic value, and by advancing a more integrated understanding of how art value is constructed and legitimised.