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As far as I remember if an item is considered art it will have a card on it saying 2D Art or 3D art. The only exception I can remember are the Music scores. They don't have the Art card, but they are considered as art by the game.
If you get these comments "i haven't appraised this art piece" by the customers for other items I think they don't mean it literally. Probably just a play on words and you just missed some other detail about the item. Since I never got this comment myself for other items.
As for doing good. You should buy items at 70% of the appraised value and sell at around 120%. This way you will get at least 50% profit plus any additional modifiers you get from improved skills.
Also you can dig through trash cans that are on the sides of the shopping area. You can find money and discarded items that you can sell for extra cash. I just don't recommend doing it longer than the first few weeks because people will notice and you will have a hard time selling items since they will say that the items might have come from a trash can.
Hope this helps.
Regards.
How do you know weather to clasicy an artpiece as failed, poor or great? Especially if there is no signature