What is value in term of arts >?

Value is the lightness or darkness of an object. The amount of light a color reflects determines its value.

Explanation:

Remember that value also possesses an emotional quality. Dark values can add mystery, gloominess, and sadness to an artwork, while white or light values can create an easy, peaceful, bright feeling.

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Value defines how light or dark a given color or hue can be. Values are best understood  when visualized as a scale or gradient, from dark to light. the more Tonal Variants in a image, the lower the contrast. when shades of similar value are used together, they also create a low contrast image.

Explanation:

I hope this helps you. :)