I think many are interested in how to succeed in creative field, and how can those who love this art and collect it earn money. Therefore, I will try to highlight a few common misconceptions, briefly talk about how the art market works, what art is valued and the main reasons for the price of art.

"The art market is a set of interacting people and institutions that create, put into circulation and consume art." (Wikipedia)

In our country, this phenomenon, as a way of competent investment, did not find a response, it happened in the first place due to ignorance of how this structure works and few relevant institutions. Russia still doesn't know what "investment" is, but as for "theft and corruption", it does.

Considering modern art market from the point of view of made efforts: meaning, concept, diligence, time, any other measure of intellectual or physical labour that an artist uses is wrong. Simply put, art market is a giant gaming platform with a huge money turnover, and those who are good at playing it, get big profits. Knowledge of art history plays the least role here. If you think that such blurred concepts as "aesthetics" or "taste" are of great importance on the art market, then you are wrong. A demanding artist in the modern art is to have business qualities, not something vividly described by art critics.

Many are indignant at the moment from "The Intouchables" film when "blood from nose" on canvas is sold for $30.000. Here we turn to the topic of what art is valued and why it is so.

Do not confuse collecting and art market. In the first case, works are purchased as pieces of art, secondly, as a product that will be resold to make profit.
There are several reasons why contemporary art is exactly as we see it.
A work doesn't have to be technically challenging to be worth millions. So why bother? The subject of modern art now looks (relatively) like this:
1. Name.
2. Author's signature.
3. Purchase price.
4. Owner.

("The Crowning with Thorns" by Georg Baselitz)

Many buyers do not even take the work from the gallery, because they understand that property rights are more important than the property itself. Just like with electronic money :)
In fact, it does not matter what a piece of art you have, much more significant is its reputation at the market. An example of this is money that without proper trust would be just a paper. Though art market almost does not need meaningful works, it requires artists to be creative in marketing, in other words, noise and scandal. Modern creations have to entertain, provoke, offend, be a reason for disturbances or cause a rapid interest.

(Ilya Kabakov)

Pricing, briefly and without going into details, can be expressed as follows — if an artist sells higher work for a record price, other works grow in price as well. Of course the purchase must be made publicly, within the art market, that is, in the auction house or gallery connected with similar institutions. Accordingly, it is possible to invest in a promising artist by purchasing his/her work, so that later when his/her works get more expensive, to resell them, what art market players actually do. The most beautiful thing here is that the increase in reputation and value of the artist's works is beneficial not only for the artist, but also for galleries and patrons who have his/her works, and they are able to influence their popularity.

(AI Weiwei walks on his project, which is a carpet of 100.000.000 porcelain sunflower seeds made and painted by hand by 1600 workers)

In conclusion, I want to add: if you are an artist who dreams of millions, then you have nothing to do in Russia. Art market doesn't get any support, we, in fact, do not have it at all. Your countries (if you are serious) are China, the USA and England.

I wish you to make your dreams come true successfully.

Thanks.

Anyone who wants to make millions, put likes :)