In the first of a three-part series, Eric explores the concept of value and, specifically, what makes some art valuable and other art... well, not. Today Eric explores the different types of value, and then offers his eight rules that make a thing valuable.

 

Eric's 8 Made Up Rules of Value

1. Rarity — the more rare something is, the more valuable it is
2. Liability — the greater the risk, the greater the reward
3. Expertise — the better you are at something, the more valuable you become
4. Reputation — the better your reputation, the higher value you hold
5. Investment — of time, of money. The bigger the investment, the greater the potential for reward
6. Demand — the higher the demand, the higher the value. Tied to rarity, but not exactly the same. Not all rare things are valuable, and not all valuable things are rare.
7. "Tag team" value — things of less importance become more valuable when they are “tag teamed” with something of value
8. Usefulness — the more useful something is, the more utility it has, the more valuable it becomes

 

Do you agree with these? Disagree? Start a discussion in the Discord channel!

https://discord.gg/YJW6qFSb

 

Eric M. Strong

https://www.ericmstrong.com

IG: @art4business