An Artwork is an object such as a painting or a sculpture created by an artist and typically designed to be visually stimulating for viewers of the object.


Most Councils have an artworks collection, and a number of Councils treat artworks as a separate asset class.

Useful Life

Many artworks appreciate rather than depreciate over time, and there are many examples of artworks in museums that are thousands of years old so the concept of useful life does not apply to all artworks.

Some outdoor public art does deteriorate over time, but unlike most other asset classes, these are not typically replaced with very similar items.

Related Pages

External Links & References

  1. Google Search
  2. IPWEA Art Assets Useful Life Discussion
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