ARTS 1301 – ART APPRECIATION – INSTRUCTOR JACOBI
CHAPTER 3 – SEEING THE VALUE IN ART
Monetary vs. Intrinsic Value
Monetary Value:
o Monetary value can be determined by a wide range of factors, such as what materials the item is made from,
the supply and demand of the market for the type of object, and the branding and status of the artist. It is
closely tied to the business of art. In business, artworks are treated as economical commodities, to be bought
and sold for profit.
o Art galleries, auction houses, and museums contribute to building up an artist’s reputation, which in turn
increases the value of the artist’s works in the marketplace. The more prestigious the reputation, the more
valuable the financial investment is of owning the artwork.
o Valuable and expensive artwork also confers a cultural prestige and high level of taste on the owner.
Intrinsic Value:
o Intrinsic value is the value that is assigned to the essential nature of an artwork. It does not depend on material
worth, or the financial marketplace (it is not measured in dollars). Intrinsic value comes from within, and it is
more subjective. It is based on or influenced by personal feelings, tastes, or opinions and frequently under
intense debate.
o The question of intrinsic value often sparks controversy, as we discussed with the works of Robert
Mapplethorpe and Chris Ofili in class.
o We looked at Damien Hirst’s artwork For the Love of God in class. It is a human skull cast in platinum and
covered with over 8,000 diamonds. The monetary value of creating a piece from such expensive materials is
obvious. However, consider the price it cost to make (over $21 million), and the price the artist was asking to
sell it for ($78 million). There is a substantial upcharge there. Part of this has to do with the artist’s celebrity
branding, which encourages buyers to view the artwork as an investment that will grow in value over time.
What kind of intrinsic value does the work have, aside from the amount of money it should cost? What is
valuable about this work: why is it important?
Art and Its Reception
o How does the public view innovative art? Innovative art typically refers to art that features new methods or
ideas, it is advanced and original, moving beyond what is considered normal or status quo.
o Innovative art is usually received with reservation or hesitation, because the public typically possesses little
context (historical or otherwise) to view it in. It is not east to accept, appreciate, or value that which is not
understood.
o It is important to remember that art which is accepted and revered today was once innovative and
controversial.
o What are the motivations of the artist to make new and innovative work?
Art, politics, and Public Space
o What role does politics play in the making and reception of art?
o How are the considerations of artworks created for public spaces different than those created for private
spaces? The Arts in Public Places Program began in the 1960s and is publically funded. This program put new
and innovative artworks on public display, where people had to view it.
o Artists were put into activist roles by the Arts in Public Places Program. Their job (as defined by the
National Endowment for the Arts) was to educate the general public about the value of art.
o The NEA wanted to expose public communities to “advanced” art. They sought to teach the public to
value art for art’s sake.
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Time and time again, the artworks that were publically installed by the NEA were resisted by the public
initially, but eventually these artworks became loved and revered.
 This is not always the case, however. An example we saw in class is Richard Serra’s Tilted Arc, a
large minimal public sculpture that was installed in the Federal Plaza in New York City. When
the work was first put in place, it received some negative commentary, and when a new
Regional Administrator of the General Services Administration became appointed, he and many
supporters petitioned to remove the work. It was eventually removed and destroyed.
 An artwork that starts with a similar story and a very different ending is Michelangelo’s David,
created in the Renaissance in Florence, Italy. The work was recognized a technical feat, but
there were groups who did not agree with the public nudity, as well as political groups who took
offense to the work’s message. The work was under threat of destruction when it was first
installed, but the sculpture gained favoritism, and has become one of the most famous
classically beautiful pieces of art in history.
o Once public art becomes activist, where it promotes a specific political or social agenda, there are bound
to be those who disagree with it point of view.
What responsibilities fall on the artist who creates work for public spaces? What responsibilities fall on the
public who receives it?
o Public artworks often directly impact our daily lives. They are in public space, which we jointly inhabit.
We see them, and physically are near them, often having to walk around or through them. Public works
are often seen by a large audience that would not otherwise view art.
o Many artists use the public context for activist goals, addressing social and political issues.