WHAT IS THE value of art? For so long, artists, theorists, scholars, critics and advocates have litigated the impassioned debate about two closely orbiting questions: what is art worth and how can art be credibly appraised?
Well, the numbers don't lie. The global art market has witnessed a spectacular renaissance over the last few years. In 2022, the art market was valued at over US$67.8 billion. According to recent UBS and Art Basel reports, it is an industry that showcases incredible resilience, growing during the challenges posed by the global pandemic, and outpacing traditional stock markets such as the S&P 500 for decades.
This continued growth, especially during global economic disturbances and periods of