What decides the value of a painting?
Valuers begin with the artist. What comparable works by that artist have sold for at public auction is the strongest evidence, because the prices are recorded and open to checking. A single record result tells you little by itself. The useful question is what similar works have achieved.
Then come the details of the particular painting. Each of them can move the figure, and none of them works alone.
- Period: work from an artist's celebrated years is usually judged differently from later work.
- Medium: oil on canvas, watercolour, works on paper and prints are valued as separate groups.
- Size: larger works are often sought after, though a small work from a key period can matter more.
- Condition: cracks, flaking, foxing, stains and old restoration all count.
- Provenance: a clear line of ownership, exhibition history and publication add confidence.
- Subject: some subjects are more sought after than others by the same hand.
What is the difference between insurance value, market value and a quick sale figure?
These are three different numbers for three different purposes, and one painting can carry all of them.
Market value is the price a willing buyer and willing seller would agree on after reasonable time to find each other. Insurance value is usually the cost of replacing the work through a dealer or auction, so it can sit higher than market value. A quick sale figure is what you might receive if you need to sell fast, and it is normally lower than market value because the buyer takes on the risk and the wait.
Before you ask for a valuation, say which one you need. A figure written for one purpose should not be quoted for another.
When do I need a written valuation?
An informal opinion is enough for curiosity. A written valuation is needed when someone else will rely on the number.
Insurers usually ask for a written figure and ask you to refresh it from time to time, since prices move. In succession, a written valuation helps the executors record what the estate holds. Where heirs divide a collection, a written valuation with the comparable results set beside each figure gives every family member the same facts to work from, which tends to reduce disagreement.
For tax, legal or court purposes, check with your adviser what form of valuation is required and who should sign it.
What should I send for an opinion?
Clear photographs let a specialist begin without seeing the work in person. Send the following where you have them.
- A photograph of the whole front, taken straight on in daylight.
- A photograph of the back, showing labels, stamps and inscriptions.
- Close views of the signature and any damage.
- The height and width, and whether the measure includes the frame.
- The medium, if you know it.
- Any invoice, certificate, catalogue entry or family note about how the work came to you.
- The purpose of the valuation: insurance, succession, division between heirs or sale.
How does Arts Bespoke value a painting?
Arts Bespoke is a Mumbai art house that deals privately in modern and contemporary Indian art. It values in writing, and every figure has the comparable public auction results set beside it so that you can see the evidence for yourself.
The opening assessment is not chargeable. You can also try the online valuation walk at /valuation/ to see what the process asks of you before you send anything.
To begin, write to clientadvisory@artsbespoke.com or use Get in touch with your photographs and the purpose of the valuation.
Written by the house and last reviewed on 21 October 2026. General information only: for a decision about a particular work, write to the house or take professional advice.
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