We all know doodling and painting in your spare time is great way to get relaxed and creative. It is also perfect for passing time in long car rides.

For a lot of people, when they make a work of art, it doesn’t end up how you pictured. For example, you see your sweet pet rabbit and draw a heart shape for its face and two round eyes. Then you take a step back and realize there is something fishy about it. Oops… Looks like someone forgot to draw the tail, body, ears and feet. So you are left with a floating heart looking right at you. 

Oh well. At least your mom will like it right? Who doesn’t love a heart for Valentine’s day. Your work of art paves it way onto the refrigerator. Right next to the other pieces of art you have made in the past. Priceless to your parents, but what about the rest of the world?

The art you create for family and friends are treasured, this is because of the meaning that is behind it. The period of time you are all grown up and somewhere far away, they will look back on your little doodles and think of you.

What about the pieces of work from Michelangelo, or da Vinci? Have you ever pondered what makes them hundreds, thousands, and millions of dollars but the doodle you spent an hour on is worthless? Most economists will argue that the worth of art is from the supply and demand. Demand is very important because no one really needs art to live, so the piece has to be so beautiful, it is worth their savings. There are quite a lot of people willing to drop thousands of dollars for a piece, as long as it is gorgeous and meaningful.

There is a large demand for artwork, so the supply end of the art work world that usually leads to the insanely extreme prices for some pieces. Little stock is the biggest role. Most of the best artists who have the highest worth art are already dead. People like da Vinci no longer paint. So, the price goes up since the surviving paintings are very few.

These extreme prices are still common even with living artists. This is from the same thing from the previous instance, supply and demand. Demand is from the artist only being able to paint so much. No one can build Rome in a day, or paint a painting. It takes a very long while to create a perfect piece.

There is also another reason why pieces of art have such extreme prices, this is because each piece is distinctive. An artist may still be alive, but the likelihood of any remakes being done is little to none. So, it piggy backs to high demand. This helps boost the price.