The Philosophical Value of Art

Art is more than just an object for exchange; it embodies cultural and philosophical significance that transcends mere price tags. As noted by Antoon Van den Braembussche, a philosopher of history and art, discussions about the "value" of art inevitably lead to questions about the meaning of value itself. In the realm of art, value is multi-dimensional. On the one hand, art holds a "commodity value" — it can be bought and sold in the market. On the other hand, it possesses an "intrinsic value," which refers to its aesthetic and cultural worth, separate from any economic considerations.

Kant's concept of "purposiveness without purpose," wherein the beauty of art is appreciated for its form rather than function, remains foundational to this idea. When art collectors invest in a piece, they are not just purchasing an object but are also engaging with the cultural and emotional experiences that the artwork evokes. This distinction between the economic and the intrinsic value of art is central to understanding art collecting as both a financial investment and a cultural activity. For collectors today, recognizing this duality allows for a more informed and holistic approach to building an art collection.

Navigating the Tension Between Economic and Intrinsic Value

The tension between art as a commodity and art as an object of intrinsic value is a constant challenge for collectors. This "essential tension," as Van den Braembussche describes, highlights the friction between economic systems that view art solely through the lens of market value and the more humanistic perspectives that recognize art's inherent cultural and aesthetic significance. While many artworks are sold at auction houses for record-breaking prices, their true value often lies beyond mere dollars and cents.

One tactic for modern collectors is to avoid purely commodifying art and instead focus on its cultural importance. This may involve researching the historical and philosophical context of a piece or exploring the artist’s background and intention behind the work. By doing so, collectors can appreciate art beyond its economic value, investing in pieces that align with their personal values and tastes.

Additionally, this intrinsic value of art provides long-term benefits. Works that resonate culturally often appreciate in value over time, as their cultural significance increases, making them sound investments both aesthetically and financially. This dual benefit — aesthetic enjoyment and financial appreciation — makes collecting art a unique investment option compared to traditional commodities.

The Role of Reciprocity in Art Collecting

Another critical factor that modern art collectors must consider is the intrinsic role of reciprocity in art. According to Van den Braembussche, reciprocity in human relationships, embedded in values that are "beyond measure," plays a significant role in the exchange and appreciation of art. Unlike purely transactional commodities, art facilitates a deeper connection between the buyer, the artist, and the broader community.

For collectors, engaging in this type of reciprocity might involve building relationships with artists, galleries, and fellow collectors. This could mean supporting emerging artists, attending gallery openings, or even participating in art fairs and auctions. By doing so, collectors are not merely purchasing an object but are becoming part of an ongoing cultural exchange that can deepen their appreciation for the art and increase the overall value of their collection.

Moreover, fostering relationships with artists and galleries can offer collectors access to exclusive pieces, early previews of exhibitions, and other opportunities that may not be available to the general public. This reciprocity creates a symbiotic relationship that benefits both collectors and artists, fostering a more enriched art ecosystem.

The Commodification of Art: Balancing Investment and Aesthetic Appreciation

The increasing commodification of art — the process of transforming art into a commodity bought and sold in the marketplace — is a growing concern for both collectors and artists. Artists like Jeff Koons and Marko Kostabi have embraced the commercial side of the art world, operating under the motto "no business like art business." While this attitude reflects a modern reality in the art world, it also raises questions about how much economic considerations should influence art collecting.

Collectors must balance their financial interests with their passion for art. While it’s tempting to focus solely on the monetary value of art, the long-term satisfaction of a collection is often found in the aesthetic and emotional resonance of the pieces within it. Collectors should approach each acquisition with a sense of purpose beyond mere financial gain, considering how a piece fits into their overall collection and what it contributes to their personal and cultural narrative.

At the same time, understanding the economic side of art is essential for any serious collector. Art can serve as a lucrative investment, with some pieces appreciating significantly over time. This requires strategic decision-making, such as identifying emerging artists whose works are likely to gain value or purchasing undervalued pieces that are expected to appreciate.

In this context, collectors should become adept at navigating the art market, understanding auction house trends, and paying attention to expert opinions. While artistic passion drives many collectors, a keen sense of market trends can ensure that their collection remains financially viable.

The Role of Art Critics and Cultural Intermediaries

Cultural intermediaries, such as art critics, curators, and gallerists, play a crucial role in the art world by helping to shape and influence the value of art. For collectors, understanding the influence of these intermediaries is essential in making informed decisions.

Critics and curators help define and shape the discourse around art, which can significantly affect the market value of certain pieces or artists. In some cases, critical acclaim can elevate an artist’s work to new heights, while in others, negative reviews can diminish the perceived value of a piece. Collectors should pay attention to these opinions but also trust their judgment, recognizing that art critics do not hold a monopoly on determining the value of art.

Collaborating with gallerists or curators also provides collectors with valuable insights into the art world, helping them discover new artists or gain a deeper understanding of specific works. These intermediaries often possess expert knowledge that can guide collectors toward pieces that align with both their aesthetic preferences and investment goals.

Strategies for Building a Diverse and Culturally Significant Collection

One of the most important strategies for modern art collectors is to build a diverse and culturally significant collection. In the global art market, a collection that spans multiple cultures, styles, and time periods not only enhances its aesthetic appeal but also increases its long-term value.

Collectors should seek to include both established artists and emerging talents, creating a collection that reflects the current cultural moment while also acknowledging the historical significance of certain works. By doing so, collectors contribute to the preservation of cultural heritage and support contemporary artistic expression.

Additionally, understanding art movements and the broader historical context of a piece can inform a collector’s decisions. For instance, collecting works from marginalized or underrepresented artists can both challenge traditional art narratives and potentially yield high returns as these artists gain recognition.

Conclusion

Collecting art in the modern era requires a delicate balance between passion and investment. As Van den Braembussche’s exploration of art’s value suggests, the intrinsic worth of art often transcends its commercial price. For today’s collectors, understanding the philosophical underpinnings of art’s value, fostering relationships within the art world, and staying informed about market trends are key strategies for building a meaningful and valuable collection.

While the commodification of art is inevitable in the contemporary world, collectors must not lose sight of the emotional and aesthetic resonance that initially draws them to art. By balancing their financial goals with a deep appreciation for art’s intrinsic value, collectors can build collections that not only hold financial worth but also contribute to the broader cultural landscape.

References

VAN DEN BRAEMBUSSCHE, ANTOON. “The Value of Art: A Philosophical Perspective.” In The Value of Culture: On the Relationship between Economics and Arts, edited by Arjo Klamer, 31–43. Amsterdam University Press, 1996. http://www.jstor.org/stable/j.ctt46mwr9.5.