Sagunt’s industrial heritage: a possible factor in territorial development

In principle and from an economic analysis, the value of conventional heritage assets depends on a) their uniqueness, b) the value of the artistic attributes attributed to them, c) their degree of conservation, d) their age. All four aspects have to do with scarcity, since we are talking about unrepeatable, unreformable assets, and therefore with a limited supply. Of all these elements, we could say that only the degree of conservation and the age are relatively objective. It is reasonable to think that of two Roman bridges, of the same artistic characteristics, the one that shows the better state of conservation will be more valuable. In the same way that two palaces, with the same artistic consideration, the one from the 14th century will be more appreciated than the one from the 19th century. The incorporation of time in the economic value is translated into the fact that the older a heritage asset is, the less likely it will be to find other similar assets (and therefore increase the supply of substitute assets). In general, in the case of industrial heritage, we can say that the origin of its value, in terms of comparison with other heritage assets, cannot be based on these two objective elements, since its good state of conservation is compensated precisely by its scarce history (in terms of time).
Book section Data de publicació 1999 Llibre RECONVERSIÓN Y REVOLUCIÓN. Industrialización y Patrimonio en el Puerto de Sagunto Pàgines 83-90 Editors Universitat de València