"The value on the painting is $10,000 and that is what the artist told me."

Unless the artist can actually hook you up with the $10K they say it's worth, their estimate isn't worth the paper it's printed on.

What you should really do is get more information from the artist on people who have bought his work in the past and try to contact them to see if they are interested in another piece. Or if the subject matter of the painting is specialized, try to market directly to an interested community.

Value is a matter of opinion when it comes to art, and in these economic times you may have a harder time getting what you think it's worth than you could have, say, six months ago.

The fact that the artist is still alive doesn't especially help the value of your painting either since great works by dead artists tend to appreciate since no new originals can be produced. But it all depends if the artist's reputation survives the test of time... value is a function of demand vs. supply... if demand goes down even with a limited supply the cash convertible value of a work of art will decline anyway.

You should really talk to some art dealers who specialize in rare or one-of-a-kind paintings. They will be able to offer you advice on what to do.

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