Tuesday, December 16, 2014

Looking to Purchase Artwork?

We’ve received a few questions through email and friends asking about purchasing artwork, but have been hesitant because they don’t know how to start.  Others have already made a few purchases, and have been “bitten by the art bug” and want to know more about types of art and how to make educated purchases especially in original art.  Here's some pointers, and some statements to questions we often hear that might help you along the way.




Get familiar with art.

I am reminded of a story one of my Ancient Art History Professors told me.  After a presentation at a convention, she was approached by an individual who said they have started to collect art and had said they had purchased a well known artists work at a really good price.  As they continued, they mentioned the newly acquired piece was in their car and wanted her to tell them what she thought, before they had it framed.  Upon making their way to the car, they pull out a cardboard cylinder, and unrolled a poster print of Van Gogh’s “Sunflowers”.  Posters of artwork is not art collecting.  We will talk about what to look for later in this blog.

Unfortunately for this individual, they did not understand all the basics in acquiring artwork.  Luckily for them, they did have the knowledge to ask someone who was educated in the art world what they thought, before purchasing many, many posters, thinking they might be investing in their future.  They also had a good step in the right direction because they knew what they liked in color and composition of the piece.  This lesson in purchasing a reproduction poster cost them around $20.00 for the poster, and a brief embarrassment. 

Although I am considered a professional artist, I do not have all the answers to everything in the art world, but I do want to help those get familiar with their understanding of the basics in art, and I would like to hear from you on any comments or questions you may have.



Why buy artwork?

There are many reasons why people buy art.  The best reason to buy art is because you like it.  It might be a particular look or style that seems to call to you.  Something different that describes your style.  It might remind you of a feeling, a place, or a person that has significant meaning to you.  It could also be because it’s colors and style fits the mood of a room.  It gives off a personality.   It makes you feel




Another reason why people buy art is for the appreciation value…  An investment.  Many may recall the October 2006 mishap with a Picasso painting and a high end art investor and casino owner, Steve Wynn.

All though he is well known in the art world to be a high end art collector, he is clinically blind, so it’s highly unlikely that he is an avid art collector because he likes the way they look.

One of his acquisitions he bought in 1997, for over $ 48m, nearly sold at auction in 2006 for nearly $140m.  That’s over 3 times the appreciation in less than 10 years!  Many have a hard time arguing that while stock markets fluctuate, and housing markets slide, original art continuously appreciates in value nearly every year.

Why is some artwork so expensive?

Some may tell you it’s because the artist is dead, and there will be no more works ever created by them.  As this may be a true statement in general, it is only a small reason behind the supply and demand of this “industry”. 

Another reason why artworks of particular artists are so outrageously valuable is because of the work they produced for their era.  These artist that are now considered the masters in our time were very much inventors in style, composition, color and technique.  For these artists in their day, the world had never seen anything like their work.  They were so far ahead of their time, so new and cutting edge the art critics and the public viewing their work received only criticism.  

Artists, such as Van Gogh was considered a failure during his lifetime as an artist, selling only one painting while he was alive.  It was not till a decade after his suicide that the art world realized his talent as an artist and was marked as a Master.  Up until that time, hundreds of his works were destroyed, many using he unsold works as kindling for their stoves, and one was even used to patch a hole in a chicken coop.  Van Gogh is now credited as the premier founding father of modern art.  It is because of this his work is some of the worlds best known, and most expensive pieces sold today.



However, There are some artists that are not dead, nor are they founders of a new movement.  Alexandra Nechita, born in 1985, her originals continuously sell for 15k to 20k continuously.  She is alive and well.  Her style is Cubism, which was first a concept of Picasso and Braque in 1908, 100 years ago.  Her main claim to fame is she started her first art showing in 1993, at the age of 8.  Her media and marketing labeled her as a child prodigy, and of her being Picasso, reincarnated.  The prodigal days have moved on, but her established prices back then have remained a sound investment for the works she still produces today.


What to look for when purchasing art

Many art buyers will tell you the artist and their track record is the first thing to look at above all things, especially for the investor.  I believe this to be partially true.  I think this should be weighed against a few other things.  Keep in mind unique works unseen by most could very well be an artist undiscovered, and could be a father of a new art movement and era.  It is often desirable for collectors to purchase unique pieces like these, literally banking on the artists acclaim to take off, yielding an investment like nothing else ever seen on wallstreet.  Original artwork like nothing seen before in the market has the potential to do just that.




With this being said, in today’s world, many orginals by established artists are too far out of reach for most people’s pocketbooks.  A common practice with many commiercialized artists nowdays are to appeal to the masses, in the form of prints. A few of the most common types of mass production of original prints could be in the form of a lithograph, silkscreen, etching or Giclee.  Any of these are considered artist creations and original prints.  These prints, approved by the artist and usually done in limited editions must be signed and numbered by the artist showing that it is authentic print and not a reproduction.  A reproduction by definition of the word is “done after production has stopped” and is an image of a piece that has no direct affiliation with the artist creation or manufacturing of the physical work being scrutinized, although royalties might be acquired by the artist estate if copyrights and trade agreements are in effect.  Posters and other copies of the image are part of this category, and should not be acquired for art collecting purposes, as they are considered reproduction copies … also known as fakes or forgeries in the art world.

Even with sculpture, casts are often taken of the originals. With today’s use of polymers, two part casting materials such as urethanes, epoxies, resins, and using silicone molds, scores of copies can be made in minute detail and in a short about of time.  This type of “art” production gets images out for sale to the masses so that “everyone can own one”, although the argument arises in what truly constitutes an original and if an edition piece is worth the price as an investment.


Arguably, the most valuable and most desirable pieces are originals.  These would be true originals, with no edition numbers, because there are no others like it in existence.  These pieces are completely created by the artist.  There are no ‘understudies” or studio artists or craftsmen churning out an end product the artist ‘signs off’ on.  Generally speaking, there will usually be no 'mass production style' mechanical printing, or assembly line processing used.  




Please contact us with more of your questions and comments, we want to hear from you!
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Want to share your interest in the art world?  Please let us know about your art experiences! Tell us about your favorite art museum, a favorite piece in a gallery visit, or what drew you to buy your first piece in your private collection.  Art IS exciting, we want to hear about it!


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