What values can be attributed to a legacy?

Art historical value

The legacy has an art historical value when, besides its historical value, it also testifies to an artistic sensibility or creativity, in idea, form or function. Moreover, a legacy also has an art historical value if it is a good example of the work of a certain artist, designer or architect.

Questions such as ‘What is the position / value / significance of the artist on the arts scene?’, and ‘Which artistic network(s) does the artist belong to?’ help to determine the art historical value.

Intrinsic value

The legacy has an intrinsic value when it possesses a particular quality and/or bears witness to an innovative technique and/or craftsmanship or an interesting experiment.

An example of the allocation of intrinsic value within an artistic legacy is that sketches may have been preserved in the artist’s studio that are not commercial but do offer profound insight into the artist’s creative process. These sketches have an intrinsic value because they reflect the essence of the artistic practice and the craftsmanship of the artist.

Social value

This means the current, social, religious, political, social or spiritual significance of a legacy for a group or community. For instance, a legacy has social value when it appeals to people because of such political or other relevance, or if it increases awareness of specific cultural and historical subjects in a specific group in society.

An example of the allocation of social value within an artistic legacy is that, during their artistic career, the artist was a member of an arts movement or collective that took a stance within society, with a pronounced reaction to evolutions within the arts. For example: Mi Van Landuyt’s archive has a social value thanks to her active involvement in the Ghent-based art collective ‘Nieuwe Rococo’ in the spirit of the Pop Art movement of the time.

Use value

The use value refers to the effective, current use of the legacy, including its academic, educational and event-based values. These values also have an impact on opening up the legacy further and making it more accessible.

Academic value

The legacy has a academic value if there is potential for research. You might ask yourself here, for example, whether a study of the artist’s archive, oeuvre or life could be conducted. What opportunities are there for extracting academic value?

Educational value

The legacy has an educational value if there are opportunities for education. The legacy can be used in various ways for educational purposes, for example to learn a specific technique.

Questions such as ‘Can the legacy be used for educational purposes?’, and ‘Does it tie in with current educational initiatives?’ can help to determine this value.

Event-based value

If the legacy offers material for current and/or new projects (i.e. those with an audience), it has an event-based value. In this respect, you may wish to answer these questions: ‘To which (current) projects can the legacy contribute?’ and ‘Can the legacy be used for activities aimed at the public?’

Economic value

To determine the economic value, we consider the financial value of the legacy, including its sale value. In fact, every artist’s oeuvre and archive has a certain market potential.

Criteria

Allocating any values to an artistic legacy is not done at random, but with the help of fixed criteria in a comparative or referential framework. The valuation is supported by substantiated arguments. The criteria for the valuation are linked to the method you choose and what you are valuing. In the CKV’s valuation framework (in Dutch) these criteria are subdivided into four clusters: the cultural and historical value, social value, use value and comparative criteria. The latter cluster does not only consider the economic value, but also the origin, the significance of the artist to the field and the material condition of the artistic legacy.

The determination of values and the potential importance of the legacy can be expressed in different ways. For example, by giving a score that can be justified by means of a ‘statement of significance’. The important thing is to determine the weighting of the criteria and values when you start the valuation. That means you consider how heavily you are going to allow the various components to impact the valuation process.

Interested to read more? Go to the next page: Valuation process.