For example, anyone going through Gloucester Road tube station in London might wonder if the platform 'art' there does anything noteworthy but hide the brickwork behind.
Well, materials cost money, and then there's the time spent producing the work of art. Assuming each artist has her own hourly wage (think minimum wage for a no-name artist), there's your perfectly measurable value of any artwork.
https://binnedart.com are trying to do something along these lines.
Too true. I guess the value of the platform "art" might be equivalent to the financial cost of actually fixing the hole, which in this case, could be millions if you factor hiring the hole fixers and the lost of revenue due to closing of the tube station.
https://news.artnet.com/art-world/jeff-koons-downsizing-1442...