LiveArt Estimate™ Methodology
Our team of art specialists and engineers have created a proprietary algorithm attuned to the complexities of the art market. The LiveArt algorithm incorporates data from past and current public auctions, private sales, appraisal and insurance valuations, market conditions, and user-submitted data, as well as each artwork’s distinguishing features, such as size, date, materials, and condition. The millions of LiveArt data points are continually being updated and expanded upon as new data becomes available.
The LiveArt Estimate™ is the amount the buyer should expect to pay for a work of art, including all sales commissions; accordingly, the seller should expect to receive a lesser amount. These sales commissions and fees are dependent on where the item is sold, as different auction houses, galleries, dealers, and digital marketplaces all have different fee structures.
How Accurate is the LiveArt Estimate™?
LiveArt Estimate™ is currently in beta, as it is still undergoing final testing before its official release. It currently covers only certain types of artworks and auction sales, but we are expanding its coverage and accuracy continuously.
Can the LiveArt Estimate™ be updated?
Yes, our AI generated algorithm updates LiveArt Estimates™ in real-time based on new market events and incoming data.
Why is there no LiveArt Estimate™ for some artworks?
LiveArt Estimate™ is currently in beta, as it is still undergoing final testing before its official release. It currently covers only certain types of artworks and auction sales, but we are expanding its coverage continuously.
Is the LiveArt Estimate™ an appraisal?
No. The LiveArt Estimate™ is not an appraisal and cannot be used in place of an appraisal. It is an AI-generated estimate of the value of an artwork today, given the available data. Use The LiveArt Estimate™ as a resource to help determine an artwork’s value. The LiveArt Estimate™ does not determine or guarantee that any artwork will realize the value range estimates if offered for sale. We encourage users to evaluate the accuracy, completeness and usefulness of any LiveArt content or value range estimates available on our site. Should you need specific advice tailored to your collection, we urge you to consult an Accredited Fine Art Appraiser or an appropriate art market professional.
Does the LiveArt Estimate™ ever change?
Yes. LiveArt’s team of engineers and art specialists work every day to make the LiveArt Estimate™ more accurate. Major and incremental improvements in our algorithm are consistently released. We continually upgrade our algorithm to provide you with the most current and accurate LiveArt Estimate™.