Most experts would say that it costs what it’s worth or what one is willing to pay. And what about a painting created by skillful artist with no name? Canvas, paint, rent of space of space and time have costs. The first two are the most visible. When someone ignorant asks why is it so expensive? If I spent 10 hours painting at $50 it is $500. And what about learning the skill? Does that time count? And what about the time to market myself and art?
There is a small % of the people that are interested in art. The rest are interested in decoration. One can’t sell art to someone who wants to pay for canvas and paint only. It is even more difficult that marketing fake products. At least fake products look like real (sometime). With art very a few people even know about the real deal.
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