Value refers to the relative lightness or darkness of a surface. The word relative is significant. The lightness or darkness of a shape is determined by its surroundings.

In this piece, " A Young Scholar and his Tutor", examples of high contrast are presented throughout. In the background, you have a subtle white/gray that transitions into a dark black. In addition, you are able to see notes of high contrast among the people. The lady to the right in what appears to be a red cloak quickly vanished to black due to the light.
In this painting by Rembrandt Harmensz, you are able to depict Low Contrast. Throughout the image, it appears to fall on a value scale that ranges broadly from black to white. There are no emphasis on the objects. For example, if you notice the landscape and the houses, there isn't much really a distinct change in value that occurred.
In this photo by Jang Jun Seok, the Value Scale is greatly interpreted. From the floors and pillars that show grey, to the ceiling which shows a good amount of black.
In this piece by "Francisco de Goya Y Lucientes", the element of value in art he uses is the balanced distribution of value. Throughout the piece, you have a wide array of black, gray, and white. For example, from the man to the background, to the bats, they all have an evenly distributed color.
Unlike, Francisco, Georges Seurat uses an unbalanced distribution of value. The piece consists of a lot of black that gives an eerie/mystical feel. If you look at the person, and the background, there's not much distinction due to unbalanced distribution.
In "Dalbit-Moonshine", this piece greatly shows volumetric value. The use of shadows throughout the image make this tree seem three-dimensional. For example, the branches. With the added shadows, it created a tube like effect. Some branches may seem like they are coming closer, others seem to be farther.
Attached Shadows. In this piece created by Arthur Kampf, he uses small portions of cast shadows to create more depth into the picture. From the chair in the middle picture to the two men standing. Not only is there cast shadows on the people but as well as the ceiling.
Thomas Eakins uses attached shadows throughout this piece. If you look on the man standing next to the patient, you're able to see a shadow on his jacket due to his arm. In addition, it is also on he face that goes down to his neck. Attached shadows are everywhere on this piece as it creates more depth to the picture.
Jospeh Rosa Schonbrunn Palace uses atmospheric perspective throughout this piece. You're are able to depict it through the back drop of the painting. For example, if you notice this mountains in the back, you are able to tell that it is not clear but faded, creating somewhat of a distance.
Giovanni Baglione uses chiaroscuro in the picture: light-dark. If you look at the background of the image, it is completely dark, but changes as you focus on the objects. This is literally chiaroscuro, light/dark to create the illusion of space.
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