“Pure taste” indicator and artworks cap-price calculation

About the “Pure taste” indicator

In ODBK we observe that the price of the artwork of an artist is in direct relationship with the level of their prestige in the institutional world set up by curators, art galleries, collectors, museums, etc. Hundreds of hidden and subjective variables are playing to define the different positions of the artist in the art market in a period of time, like convenient friendships, rich family origins, sexual favors, drugs, etc.  That’s why in ODBK we use a methodology making an international referendum using the database of AMARC members to evaluate the “pure taste” of the work of an artist. This referendum is executed by the three groups of people affected by the decisions of the art market: institution, artists and art lovers. Giving as a result a “pure taste” indicator based on the fine art knowledge of this representative group of the art world without hidden variables used by the current art market to speculate with the artist name and artworks. The “pure taste” is represented by a number that situates the price of the artworks of an artist in a cap range price.

Process

The “Pure taste” indicator and the artworks cap-price calculation formulas are based on the decisions made by the three groups that conform to the AMARC: institution, artists and art lovers. At this moment the ODBK provides  formulas to calculate the cap prices for two dimensional works, in the cases of originals and multiples. Important to mention is that the formulas calculate “cap-prices”, that means the price of the artwork of a specific size in cm2 used to calculate the “cap-price” could range between 1 and the “cap-price”, as maximum, calculated in Euros.

The first step to get the “Pure taste” indicator and cap-prices of the artworks of an artist is to send the requirement to the AMARC asking for a call to ” cap-price referendum for an artist”. (A call for this process can be done anytime using the next form)

The second step is the validation of the artist’s information. (A representative of the ODBK will check if the information of the artist is valid enough to take the decisions by the AMARC)

The third step is to randomly select (international) ten people from each group and from members of AMARC: institution, artists and art lovers, for a total of 30 people that will democratically evaluate the work of an artist. (The list of the voters will remain in secret until the decision is made. After that the list will be published with the results and the voter will decide if their name will be published or not on the result list)

In the fourth step every person selected for the decision process will receive an email with a unique link with the information of the artist and a link to give their votes. Each voter will give the artist an amount of votes between 1 and 100. After the evaluation process the referendum throws a number between 30 and 3000.

The last step is the calculation of the artwork’s cap-price. Based on the number of votes from the referendum process the “Pure taste” indicator is calculated then, based in the size of the artwork and the indicator the cap-price is calculated:

AMARC factors table

AMARC-factors-table

Original artworks formula

original-artworks-formulaexample-original-top-price

Multiple artworks formula

multiples-artworks-formulaexample-multiples-top-price