The value of a work of art is rarely captured by its market value. Consider the value of an aluminum shovel with a wooden handle. If the shovel is presented as a tool for doing yard work, there is consensus over what constitutes an appropriate price: the shovel price should reflect the quality and utility of the shovel. But if a shovel is presented as a piece of art, there is suddenly wide disagreement over its value.
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What Is the Value of Music?
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The value of a work of art is rarely captured by its market value. Consider the value of an aluminum shovel with a wooden handle. If the shovel is presented as a tool for doing yard work, there is consensus over what constitutes an appropriate price: the shovel price should reflect the quality and utility of the shovel. But if a shovel is presented as a piece of art, there is suddenly wide disagreement over its value.