Why do we value what we value? Where does Art fit into this?

Why do we value what we value, why do we pay what we pay? Is it because of expectations or because we are told we should like it?

As a photographer I regularly charge between £80 and £100 an hour, or £1000 a day. The resultant images (usually) have a shelf life. Whilst they may serve as a digital record “forever”, the actual useful life to the client is far far shorter — maybe for a single season, a single publication or until staff move on. You get the idea, the life of this work is finite.

Let’s take the example of other goods; A designer tee-shirt or a pair of jeans. Just because it has a label on it (which we are usually told is good) we are willing to pay maybe £50 (for a tee) up to £200 for a pair of jeans (maybe more). Yet again, these goods have a life, they go out of fashion, they wear out (sometimes they are not even that well made).

A night out is another example; It’s not uncommon for a couple to go out to a restaurant, sometimes a run-of-the-mill chain restaurant and spend upwards of £100 on food and wine. To point out this purchase has a short shelf life is somewhat daft.

I understand doing all these things, I have done them and still do. I guess it’s living in the moment; acquiring things and experiences that make us happy — if only for a fleeting time.

So then, why do we struggle so much to put a value on and pay a reasonable price for artwork?

Take this painting, (remove the fact of whether you like or dislike it). It’s an A2 mixed-media work (that’s 16.5 x 23.4 inches) created using professional artists materials. That is to say, it will last multiple lifetimes if looked after; it will not wear out or fade. I know (because I painted it) that it took 16 hours to create (ignoring all the preliminary work & sketches). The combined cost of the custom made frame and paints mean the materials come to well over £50.

Many people have come into the studio, have admired it, commented on it yet as soon as they see the price they bulk. It is priced at £250.00.

Let’s break that down. £250 — £50 costs (approx) = £200 / 16(hours) = £12.50 an hour. (ignoring all fixed costs like studio rent etc.). That's way less than UK national average wage. (It's also less than 100 typical high street coffees , or 70 pints of beer).

I assume this shocked reaction is because the piece is sitting in the artists' studio on a beachfront and although in a reasonably affluent town, it’s probably not what they are expecting to see. It would be interesting to compare reactions to if the piece were in a London gallery (where the price would be far higher). Would the reaction be any different? (Interesting fact: more of my sales are to visitors from London and its environs than to locals).

We as a society are happy to purchase something of a greater value if we are told it’s good. However I have another thought; I’m starting to wonder whether our reticence to purchase one off pieces (compared to lower cost prints) is down to our need to follow fashions, consumerism and constant change, not wanting to commit to something that could be with us for a lifetime. We could be happy to dispose of prints, especially if we know many people have copies but a one off? Is there an additional burden here?

Last week I had the most wonderful comment about my work “I love the way your work makes me feel” said a woman as she left the studio. I had the same feeling when I first saw a particular sculpture by David Klein a few years ago. Within a few hours I had paid the largest sum I have ever paid for an original work of art. David brought it to my home a few days later, placed it on our fireplace where it has remained to this day. I can honestly say that every single day I see the piece (I often still gaze at it) it feels me with emotion as it did when I first saw it.

I would grant that a great night/meal/show out could feed a lifetime of memories (although its more likely to feed a hangover for many) but surely the value of a lifetime of emotions given by an artwork that you love is greater than 6 months of tea or coffee brought during the daily commute?