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!
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!
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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