Art has only extrinsic value, that is assigned to it by external factors. It is intrinsic value it lacks, unless it is Architectural or a Tool, or piece of Machinery (functional in some way), but even then the intrinsic value of it’s functional design, has little to do with it’s artistic design, unless it is in it’s functional design that is being presented as Art. I give you Danish Home Furnishings, beautiful, elegant, Artful, Functional Design. In this respect Art is exactly like Gold, containing no intrinsic value, unless fashioned in an utilitarian manner.
Now some will argue that art has intrinsic value in some spiritual, or emotional sense, but that is a value placed on it by external factors, ie; the viewer’s own sentiments. It only proves my point.
Also it could be said that art functions as a decorative element. and served the function of making spaces more appealing. While it might be the goal of much art to provide this function, it is only satisfied through the subjective experience of the viewers, therefore extrinsic not intrinsic value.
Collectively Art has intrinsic value as there is something for everyone, every taste and persuasion.
What are your thoughts? Post in the comments below.