monetary value

monetary value
   or monetary worth
   The price (not to be confused with the art term value) that an art object, writing, intellectual property, etc., might bring in the market place. Buyers and sellers need good information in order to know what could be a high, low, or fair price to pay or ask for something, in order to appropriately insure it, or out of simple curiosity. Monetary value can be determined to varying degrees of reliability by an appraisal, or by offering it for sale either via auction or gallery (traditional or online), or by an advertisement placed in a newspaper or magazine. [A much more in-depth article on this subject is coming soon.]

Glossary of Art Terms. 2014.

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