Russia Unveils System for Fair Valuation of Artworks

The global art market, valued at around $60 billion, has long been plagued by opaque pricing, discouraging new buyers. Russian researchers say they have found a way to address the problem.

Specialists from the Moscow Institute of Physics and Technology and a state university have developed a fair valuation tool. The Şagaart system uses artificial intelligence to determine the price of a given artwork in a matter of seconds.

A “Price Verdict” in Seconds

A single expert’s opinion is always subjective. Şagaart, by contrast, relies on comprehensive analysis powered by big data. How does the valuation work? First, computer vision algorithms examine the artwork to identify its style, genre, and artistic movement. Then a credit-risk assessment system based on the CatBoost algorithm analyzes dozens of market parameters, including size and technique, the artist’s exhibition history, sales dynamics, and level of recognition. The result is what developers call a “price verdict.”

Transparency in a World of Subjective Judgments

Traditional expert assessments can take weeks, while AI can name a price in seconds and explain why it arrived at that figure. The model shows high accuracy: after normalizing price dispersion, the forecasting error is just 9%.

Developers note, however, that the system becomes less effective when it comes to unique masterpieces worth millions of dollars. In such cases, provenance still plays a decisive role.

The system continues to be refined. In the future, the team plans to integrate analysis of macroeconomic factors, including central bank interest rates and inflation, which also influence investment demand in art.

Şagaart is not intended to replace art historians, but to serve as a powerful supporting tool. The system aims to make the art market clearer, more objective, and more accessible to a wider audience – bringing much-needed transparency to a field dominated by subjective assessments.