Art’s Value Demystified

Art's Value Demystified

The Value of Fine Art: A Guide to Understanding the Factors That Determine an Artwork's Worth

Art’s Value Demystified

At Peter’s Gallery, we are passionate about promoting and preserving the rich cultural heritage of Cypriot and Greek fine art. These art pieces are not only beautiful but also hold significant cultural value.

In this guide, we explore the main factors that determine the value of fine art and offer tips for investing in valuable pieces.

Factors That Determine the Value of Fine Art:

1. Artistic Merit: The overall aesthetic and technical quality of the artwork, including factors such as the use of colour, composition, and style.

2. Historical Significance/Cultural Relevance: This factor takes into account the artwork’s importance in the context of history and culture. It could be influenced by factors such as the period in which it was created, its role in shaping artistic movements, or its connection to a significant social or political event.

3. Condition/Provenance: The current state of the artwork and its identifiable history of ownership can both affect its value. At Peter’s Gallery, we meticulously inspect the condition of each artwork and provide a certificate of authenticity with every purchase. Our commitment to ensuring the quality and authenticity of our collection is unwavering.

4. Scarcity/Rarity: The number of existing pieces from the artist, especially in comparison to the complexity and quality of the work, can increase an artwork’s value.

5. Market/Popular Demand: The artwork’s popularity among collectors, investors, and the public at large can significantly increase its value on the market. At Peter’s Gallery, we have a deep understanding of the art market and can help you navigate the complexities of investing in fine art.

Stathopoulos Giorgos, Woman with aulos, Acrylic on canvas mounted on board, 45.7 x 60.9 cm

Stathopoulos Giorgos, Woman with aulos, Acrylic on canvas mounted on board, 45.7 x 60.9 cm

Investing in Cypriot and Greek Fine Art:

When investing in Cypriot and Greek fine art, it’s important to remember that the value of an artwork is determined by a complex interplay of objective and subjective factors. Investing in art should not only be about profiting financially, but also about enjoying the beauty and the process of acquiring art pieces. Therefore, here are a few tips to help you invest wisely:

1. Visit Peter’s Gallery to see our collection of fine art and speak with our knowledgeable staff.

2. Attend art fairs and exhibitions to see a range of artists and styles.

3. Look for works of art that exhibit the key factors for a high-value artwork, such as exceptional technique and a rich cultural connection.

4. Seek advice from experts in the field, such as auction house specialists, dealers, and curators.

5. Invest based on your personal preference and the intended purpose of the artwork, whether you want to collect for enjoyment or investment purposes.



At Peter’s Gallery, we believe that fine art is a valuable investment that offers collectors and investors an opportunity to own a piece of history and culture. Understanding the factors that contribute to an artwork’s value can help you make informed decisions when investing in fine art. We are committed to promoting and preserving cultural heritage and invite you to visit us to explore our collections.

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Please be advised offers ranging 5% to 15% below the original price have a higher chance of acceptance.

(Prices do not include VAT)

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Certificate of Authenticity

A Certificate of Authenticity is essential to identify and attest to an artwork's genuineness and provenance. Peter's Gallery issues a Certificate of Authenticity to accompany every piece from our collection.

Symbols Definition

The hash symbol indicates VAT applies only to buyer’s premium.

The diamond symbol indicates VAT applies to hammer price and buyer’s premium.

The triangle symbol indicates there is no reserve price in place.

The square symbol indicates there is a reserve price in place.

The VAT and Buyer’s Premium will be applied on the checkout page.

View glossary of terms to familiarise yourself with the language of auctions.

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Upload up to three (3) colour images of your artwork. Complete this form for each item.

If you’re an artist interested in submitting your artwork(s) for selling at auction then kindly submit your artwork(s) here.

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Please upload three (3) colour photos of your item: Front, back and signature. Format types: JPG, PNG, TIFF. The size limit per image is 10MB.
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– Please include prices if you have established prices for your artwork. If you do not have established prices and are not certain of how to price your work, the gallery team will assist represented artists with pricing; this assistance is offered as part of Peter’s Gallery representation.

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Lot Prices

Please note that Lot prices listed on this page are exclusive of the Buyer’s Premium, of any applicable taxes and costs, unless otherwise noted.

Auction closing times

Lots will close at their scheduled time unless a bid is placed within five minutes of a Lot’s scheduled closing time, in which case we will extend the sale of that Lot by five minutes.

The extension of any Lot’s closing time does not affect any other Lot’s closing time; therefore, it is possible that Lots will close out of the announced auction ending time. Lots may extend for up to two hours to accommodate competitive bidding.



Unsold artworks from the latest auction are offered at their starting price, via private sale and online for a limited time only.

View the Aftersale items available on this page (see ‘Aftersale‘ label) or visit the gallery.

You can also view the Aftersale items here.

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The secondary art market

The term “secondary market” refers to art that has been sold at least once before. In simpler terms, the secondary market deals with resale, typically with artworks by artists who have a substantial reputation. For example, most artworks sold through auction houses form part of the secondary market.

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Peter’s Gallery is committed to protecting your personal information and securing our computer systems.

We consider the confidentiality of your personal information to be important and we use SSL, the newest and most recent standard security technology to safeguard your transactions and data from manipulation, destruction, or access by unauthorized persons and to prevent unauthorized disclosure.


Buyer's Premium & VAT

The total purchase price is calculated, in short, as such:

Hammer Price + Buyer’s Premium (10%) + *VAT (19%)

The Buyer’s Premium is added to the Hammer Price (winning bid) and is included as part of the total Purchase Price payable by the successful Bidder. In an Online Auction conducted by Peter’s Gallery, the Buyer’s Premium rate is as follows: 10% of the Hammer Price of any amount.

*VAT applies in two ways: Over the buyer’s premium only  OR  over hammer price and buyer’s premium. See symbols under the Lot’s title for more.

Familiarise yourself with the auction terms by reading the Auction Glossary.

Read the auction Terms & Conditions in English and Greek here.

Visit the FAQ page for more.

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How offers work

After entering your offer price, you will receive a reply within two (2) business days, letting you know if your offer was accepted or countered.

The email will include payment instructions. Be advised items are not put on hold and will remain available for purchase until your transaction is completed.

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