Oil Painting: Value per sq. foot?

Discussion in 'Art & Culture' started by Dinosaur, Nov 28, 2017.

  1. Dinosaur Rational Skeptic Valued Senior Member

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    Many years ago I went to the auction of the contents of mortgage foreclosed house with a friend who dealt in antiques & various other items available at flea markets & house auctions. .

    He bid circa $300.00 for an oil painting which he late sold for $2000.00. It was done by some obscure artist he had never heard of. The other bidder a woman who I assume was bidding merely because she like the painting.

    I asked him how he knew he could make a profit on it.

    He replied that a well executed oil was worth at least some number of $ per square foot, making it worth at least $400.00

    Does anyone here know the current minimum value per square foot for an oil painting?
     
    Last edited by a moderator: Nov 29, 2017
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  3. Dinosaur Rational Skeptic Valued Senior Member

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    Mea culpa: I did not intend the italics.
     
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  5. sweetpea Registered Senior Member

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    well, the current price of a barrel of crude oil is...
     
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  7. iceaura Valued Senior Member

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    "Well executed", would be the key factor there.

    There's a family heirloom oil painting currently hanging on a sibling's hallway wall, executed by a grandmother in her very early youth, whose worth per square foot on an open market might be negative - the frame might sell for more without it.

    The dollar signs trigger them. There's a workaround.
     
  8. DaveC426913 Valued Senior Member

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    "That's a lovely priceless painting you've bought there sir."
    "Rather. But I really only like the nose."
    *snip snip*

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  9. Seattle Valued Senior Member

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    Shouldn't this be in the bad joke forum?
     
  10. Stoniphi obscurely fossiliferous Valued Senior Member

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    Oil paintings, like many other types of artwork, are individually priced, according to many variables, as I suspect we are all quite clear.

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    "Per square foot" in pricing would then refer to mass - produced items, not actually considered as individual artworks.

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  11. Dinosaur Rational Skeptic Valued Senior Member

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    Seattle Post 6
    Stoniphi Post 7
    You two folks quite reasonably believe that it is silly or erroneous to assign a a value per square foot to an oil painting.

    The person I refer to made a good living buying for resale at flea markets & auctions at foreclosed houses.

    Over the years he had developed algorithms for estimating a minimum value of various types of items. I am guessing that some of the algorithms might have been given him by others who bought for resale.

    BTW: Note that the time required to create a well executed oil painting would be affected by the area of the painting, so it would surely make some sense to estimate a higher minimum value for larger paintings by unknown artists.
     
  12. sideshowbob Sorry, wrong number. Valued Senior Member

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    The ghost of Vincent Van Gogh will be glad to hear that.
     
  13. iceaura Valued Senior Member

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    The key variable in that algorithm would be "well-executed" - with some unspoken elements of subject matter, etc (the family heirloom painting of a pile of dead fish done in dull colors is actually pretty well executed - - ). Secondarily "square footage". ( and it's large). The guy knows what good execution looks like - give him credit.

    btw: Apparently artists often price their paintings by the square inch: http://mariabrophy.com/business-of-art/how-to-price-your-original-artworks.html
    So the price per square inch varies by "name" - meaning there would be a floor price for "unknown". It's not a unique idea - it's kind of standard.
    And there's a reason for it (explained in the text of the link).
     

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