Who Decides What Each Autograph Is Worth?

Who decides what each autograph is worth? The value of pieces in an autograph collection depend upon supply and demand. The first thing you have to realize is that there is no pricing theory. I don't care...

The first thing you have to realize is that there is no pricing theory. I don't care if you are talking about gasoline or the Mona Lisa. No economist has ever come out with a reason why people take a particular price over another. Supply and demand are elements of pricing. If there is only one Leonardo Codex left, it means there is a very limited supply compared to all the autographs by Oprah Winfrey. If there are thousands of people who really believe Leonardo da Vinci was a great scientific mind, that price is going up. There are many Renaissance artists who nobody cares about. Their letters go for very little at auction because there is a lot of supply but little demand. No one can ever be sure why is there is a certain price for something, but supply and demand are definitely important elements.

© High Speed Ventures 2011