5 Psychological Reasons Why People Buy Expensive Art

Works of art

What makes a work of art great?  Almost anything can be seen as a work of art, but some art is more expensive than others, and why is that?  It is because certain works of art are done by more prominent artists, or it is a certain type of art. Art galleries are all different and unique. For centuries there has been artwork that must be owned and artwork that is just, eh, but what makes people want to own pieces of art for their homes?

Why do you want to own art?

There are a lot of reasons that people would like to own artwork but did you now that most of those reasons are purely psychological reasons.  There is no real reason that people would want to own art. It serves no function around the house, all it does is sit and look pretty, so what is the need to have stuff that looks pretty?  The want, or the ‘need’ to own art is strictly psychological.

Couldn’t one argue that the need for art is emotional?

One could imply that they like the artwork they have chosen because it makes them feel a certain way.  Either it makes them happy, or nostalgic, but even if you are getting a feeling from your artwork, that is your brain working.  Feelings, or emotions, are a psychological thing. Artwork makes you feel a certain way because it is meant to target certain areas of your brain.  In fact, feelings are one of the many reasons that people want to own art.

What are the top 5 reasons people want to own artwork?

1. Emotions – Art makes people happy.  It has also been known to bring forth feelings of anger and sadness.  It can make someone feel like they are back in their mother’s kitchen while their mom is baking cookies, or it can make you relive your worst moments in time.  Some people buy and keep art because it makes them feel a certain way. Have you ever just looked at a piece of art and said: ‘I need that because it makes me feel like this…’?  That is a psychological reaction. When art makes you remember something or makes you feel a certain way because of its theme or colors, you want that piece of art because it makes you feel that way.

2. Money – Some people do not even care about the art they are purchasing when they purchase it.  Some people only care about what they can gain from purchasing the artwork they have. When these people are buying art, they are thinking about whether it will gain value or decrease.  They wonder if they can sell it and make a profit quickly or slowly, and how much of a profit they can make. Some art is strictly sold for the profit it can make.   Now, some people would say this is not psychological, however, the need to always have money or have something that you are able to sell for money is a psychological need.  People who are like this understand that it is always going to take money or something of value to survive. In a way, purchasing art that will fetch a hefty sum later is a survival instinct.

3. Prestige – Some people want to own art strictly because it makes them look a certain way.  This is a psychological need as well. Wanting to look good for others or have people who are higher in social standing than you like something you have is a huge accomplishment.  The more expensive the art, the more praise they are fed. If they have artwork from certain artists, like Renoir or Picasso, they have clout. Artwork has the ability to make people more socially acceptable.  Most people just want to fit in somewhere, and art can help them to do this.

4. Love of art – For some people purchasing art for the love of the work is enough.  These pieces may not even be super-expensive works, they might not get the highest price or even be created by someone popular.  When someone really loves apiece of artwork and just has to have it, they are fulfilling the psychological need of wanting.    

5. Making statements – Some people like to keep art because it makes a statement.  A lot of this art is controversial, and people strictly own it to be different. While some art is meant to make people more socially acceptable, some art is meant to make people feel uncomfortable.  It is meant to make people question things. This is fulfilling the psychological need to be heard. Some people do not have loud voices or are not well versed in public speaking or writing. Some people are artistically inclined and make their statements that way.  People buy their work because they feel the same way as the artist, like the point needs to be heard.

Is owning artwork that important?

Owning some type of art is important to your psychological well-being.  Artwork can make something you have to say very clear without you having to say it.  It can stimulate your emotions and you brain. Art can help to make sure that you always have some kind of rainy-day fund, or it can just sit around because you like the way that it looks or what it says.  Artwork can be very important in a person’s life.

Are people really fulfilling psychological needs through art?

Owning art is a psychological need itself.  Art serves no purpose other than to make its owner happy.  It does not have any function beyond sitting around and being stared at.  Even if it is for monetary gain, the art is making its owner happier, just by being worth money.  There is a psychological need behind every piece of art that is sold, bought and displayed. Either it is meant to improve someone’s mood, make a statement about something, or is there for later monetary gain.  No matter why the art is in your home, it is there because of one of your psychological needs.