The value structure of Nikolay Bogdanov-Belsky is mid-key: quiet, controlled, and cohesive. Nikolay Bogdanov-Belsky tilts toward cool - blues and silver-greys carry the structural weight. Every colour is desaturated; the palette proceeds through near-neutrals and gently-coloured greys. The highest-chroma note - #A0735B - appears at just 4.2%, deployed as a precision accent against the quieter ground. Spanning 51 units on the value axis, the palette achieves the balance between tonal flatness and fragmentation. The mid-to-high key, cool bias, and moderate chroma point to outdoor observation - sky and diffused daylight as the dominant light source. This is palette 11 of Nikolay Bogdanov-Belsky's sequence - a single chapter in a chromatic story told across many works.