If you were buying a car, the value is set by the asking price and what the buyer pays, not what the car dealership nets from the sale or the manufacturer. That’s not the value. A porsche’s value isn’t set by the sale after all fees are removed from the equation, it’s set by what the buyer pays as they drive off the lot. I don’t know.. I just don’t agree. I can’t say the Jonas print is 20k, because that isn’t what the winner is walking away with it at. It’s actually quite a bit more. My two cents.

Hammer was 20k, buyer paid 27K. I would think if the buyer could find one for 20k he would of preferred to have paid that rather than the 27k he actually paid.
If and when the seller chooses to sell the print I would think he would have it in his books as paying 27k and not 20k.

def 20k, barely above retail. Looks like the market is finally waking up.

So then I’d hammer is 20k, but new owner actually pays 26-27k, what is the ‘value’ in your point of view?

20k. intersection of what the seller would have accepted and the buyer would have paid.

if i go out tomorrow and buy a JW vote print from an auction house for a million dollars, do you really think that all other vote prints are suddenly worth a million dollars? of course not. would be pretty easy to get rich if that was the case.

I am curious to hear your thoughts. I am genuinely interested (no snark). I was offered quite a bit more for mine and I said no and on more than one occasion. Having those conversations makes me think that some people are willing to pay more. This was earlier this year. There are other data points that need to be taken into account. I completely agree. In this case, I think it went lower than it should have because it was artnet and in the summer-ish time. People are more aggressive in the spring/fall. You’re not going to find a $90M Hockney or Koons on Artnet auctions because they just don’t have exposure to those kinds of collectors. I think if it was a fall auction at a better house, it would have gone for a lot more.

but i thought we were defining value based on what the buyer paid

the hammer price is fairly accessible to all and has already been mentioned elsewhere in the thread. There’s no need for me to say it.

you're so close

hadn't been mentioned before that post, you need an artnet account to access the final price. thanks for your help though.

Definitely what the seller receives.

That’s your job to find it. The seller got 20k so it’s not unreasonable to think there is another seller out there who would be ok with that.

I don’t mean that in a rude way btw.

This.

When you buy a piece from auction you are factoring in the auction fees as part of what you have to pay for that piece of art. That is the price of the art.
When you go to say Hang Up gallery and buy a Banksy print that they are selling on consignment you don't separate their consignment fee and say the true value of the print is what the seller is getting back - the price of that piece of art is the total of what you are prepared to pay. If that is £50k then that is the value of that piece of art NOT the £40k or whatever the seller receives.