Historic value

Historic value (or historical value) is an increase in value because of historical aging. Original materials and signs of craftmanship are important to historic value,[1] while later-date changes can diminish it.[2]

For the accounting term, see historical cost.

Records and documents

With regard to items like library records or written documents, historical value can mean that the item contains "unique information, regardless of age, which provides understanding of some aspect of the government and promotes the development of an informed and enlightened citizenry."[3]

Real property

The increase in the value of a property, due to its historic value is based on the property's age, quality, and rarity.[4] A property's historic value may be due to being associated with a historical activity, event, period, or person,[5] or it may have particular historical architectural properties.[6]

Art-historic value

In art, historic value is sometimes called art-historic value.[7] This is independent of a work's aesthetic value and is based on it being an important part of art history.[8]

References
  1. Michele D. Marincola; Lucretia Kargère (2020). The Conservation of Medieval Polychrome Wood Sculpture; History, Theory, Practice. Getty Conservation Institute. p. 93. ISBN 9781606066553.
  2. Jeff Jewitt (2012). Refinishing Furniture Made Simple. Taunton Press. p. 7. ISBN 9781600853906.
  3. Wiegand, Shirley A. (1994). "definition+of+historical+value"&pg=PA97 Library Records: A Retention and Confidentiality Guide. Libraries Unlimited. p. 97. ISBN 978-0-313-28408-3. Retrieved 2 September 2022.
  4. A. Adair; M.L. Downie; S. McGreal; G. Vos (2013). European Valuation Practice: Theory and Techniques. Taylor & Francis. p. 215. ISBN 9781135821180.
  5. Derek Worthing; Stephen Bond (2008). Managing Built Heritage; The Role of Cultural Significance. Wiley. p. 61. ISBN 9780470697979.
  6. United States House Oversight Subcommittee on Government Operations (1972). Historic Monuments Preservation. p. 22.
  7. Ingo Kowarik; Stefan Körner (2005). Wild Urban Woodlands; New Perspectives for Urban Forestry. Springer. p. 211. ISBN 9783540239123.
  8. Michael Hutter; Richard Shusterman (2006). "Chapter 6: Value and the Valuation of Art in Economic and Aesthetic Theory". Handbook of the Economics of Art and Culture. Vol. 1. Elsevier. p. 199. doi:10.1016/S1574-0676(06)01006-4. ISBN 9780444508706.
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