The Price Index

What is the Price Index?

All professional painters can have their Index calculated, placing them on a scale of value.

All they need to do is request the study and calculation from i-CAC

The Price Index is a figure ranging from 0.01 to X, as there is no upper limit to the score.

The Index therefore has a rank, in other words an ascending order.

The higher the Index, the higher the artist climbs in the national ranking.

For example, i-CAC publishes the CAC 50 every day, that is, the ranking of the 50 artists with the highest Indices (several artists may share the same Price Index).

How is the Price Index calculated?

It starts with gathering information on the artist’s activity within their market.

A number of factors are taken into account (see the list below); they are analysed, and algorithms with weighted coefficients assign a score to each item.

The overall assessment produces an index that is higher or lower. The mathematical formula behind the Index remains confidential.

Factors taken into account in the study (it is not necessary to meet every criterion)

• Analysis and overview of the artist’s characteristics: style, creativity, originality, quality, technique and media of the works.
• Public sales listed by various bodies and overseen by auctioneers; the number of lots sold over the last 10 years, offered and sold; the volume of direct sales and gallery sales.
• The prices charged by galleries and online art sales websites showing the artist’s work,
• The art schools attended and qualifications obtained,
• The number and reputation of the galleries exhibiting the artist’s work (France and abroad),
• The number of exhibitions at prestigious salons (France and abroad),
• The number and prestige of the prizes and distinctions won (France and abroad),
• Membership of renowned institutions (foundations, academies, associations, …),
• The volume of articles in the specialist press (Univers des Arts, Beaux-arts, Pratique des Arts, …) and of books devoted to the artist.

On the basis of the information provided, the experts at i-CAC study the artist’s overall situation and focus in particular on measuring and reporting the impact of:

• Public enthusiasm for the artist’s work (volume of direct sales),
• Sale prices (broken down by format),
• Price trends in galleries where the artist has been exhibiting for some time,
• New requests for gallery exhibitions (new galleries taking an interest in the artist),
• The volume and sale prices of the artist’s works on online art sales websites (a new promotional channel),
• Trends in the record of public sales listed by ARTPRICE,
• Prestigious prizes and distinctions recently won (in France and abroad).
• The estimated resale price of works for a collector wishing to part with them, in the light of the price rating.

Ultimately, what drives and influences the setting or evolution of an artist’s rating is their sales volume and the prices charged: the greater the demand, the more prices rise and the more the rating is affected.

Expert assessment for setting a rating is therefore based on evidence of sale prices (invoices for direct or gallery sales, results of public sales by auctioneers, etc.).

All the other areas and devices serve only to support recognition of the value of the artist’s work and of the enthusiasm for their works.

i-CAC strives to gather, verify and enrich the data for each artist. On the basis of the results obtained, the artist is certified and assigned a price index.

With i-CAC, you have access to a powerful tool that automatically calculates the value of your works (excluding framing). The price rating by format appears once the price index has been entered.

A “per point” price rating is also calculated for devotees of this method (the smaller the format, the higher the point value; the larger the format, the lower the point value).

Assessing the rating of a work:

Price Index x surface area of the work x size algorithm = value in euros

Example with an Index of 0.50:

• 0.50 x surface area (50x50=2500) x algorithm (1.056) = €1,320
• 0.50 x surface area (92x60=5520) x algorithm (0.9348) = €2,580

Price Index Review

You may request a review of your Price Index at any time, free of charge, throughout the certification period. Simply click the dedicated button on the “artist profile” and update the information form.

The request must be substantiated and show that the artist’s market has evolved and grown: the higher the artist’s Price Index , the stricter the requirements for evidence of progress.

The reported changes must be verifiable through supporting documents provided by the artist at the experts’ request.