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FACTS publishes this document as a public
service. Its use is voluntary, and all results obtained
by its use must be entirely the responsibility of the
user. This document is subject to revision, change and/or
withdrawal at any time. © FACTS 2000 |
LOOKING
FOR ART
Most everyone today has some interest in art. Art today is
big business there are more galleries, more artists and more
art produced today than ever before. More people are buying
framing and restoring art than at any other time. Art is an
important part of our lives and it makes no difference what
type of art you acquire or why you collect it.
It may only be an
important part of your decor, or an item that adds color or
interest to a wall. It may be your child's first painting,
a posters of a place you visited or wish to. It makes no deference
weather it is a single item of art, a house filled with drawings,
prints, paintings or memorabilia, all the things you like.
They are your collection, and there are important consideration
in your acquisition, display, maintenance and conservation.
It is most often the
purchase of a single item of art, which produces such pleasure,
that we become addicted collectors. Over the years it has
been my experience, that the most successful collectors are
also the most knowledgeable. They have learned about the type
of art or artist they were collecting. But whether you intend
to be a collector or just want to decorate your house with
items of art that please you, the more information you have
about what you collect, the better decisions you will make
concerning selection, purchase, condition, conservation, and
framing.
When art is to be
only a decorative accent, you look for size, suitable colors
and subject matter, and the art maybe found almost anywhere,
gift shop, department store, gallery, antique shop, frame
shop, art sale, flea market or auction. You will pay for this
art what you consider to be reasonable for its purpose. You
are not concerned with longevity or originality. This is wall
decor to be changed when you redecorate.
If you intend to keep
it, its condition should also be a consideration. This applies
to keepsakes, old photos, paintings or drawings by family
members, even the art you grew up with. It is not the value
but the condition that should be your major concern.
If your interest in
art seems to grow and acquiring art has or is becoming an
integral part of your life you want value for your dollar.
You must be concerned with arts authenticity as well as condition.
STARTING A COLLECTION
Unless your collection
has been inherited, almost every collector makes the same
beginning mistakes. Some are still making them. The first
rule before buying any art should be to familiarize yourself
with art and its many variations, spend time in museums galleries
and all other places where you can see art, ask questions,
read books, learn about why some art is considered so important,
subscribe to art magazines. Look at all kinds of art, look
at the quality and the price.
Your initial interest
in art will most likely change with this exposure. The more
you learn and experience art the more defined your appreciation
will become; you may even find your interest captured by a
single artist, style or period. It is by this exposure and
self-education that you will avoid making the most costly
mistakes.
Almost with out exception
every individual that becomes collector, dealer, or gallery
owners have made the same mistakes. These are in four major
areas, quality, price, condition, and authenticity. In every
instance they could have cut there losses by spending more
time learning about art its condition, authenticity, and value.
Inexperienced or beginning
collectors buy a lot of art they soon out grow, and many times
these inexperienced first purchases have little or no resale
value. They may not even be what they were represented as,
the condition may be so poor they will not last; they may
be over restored to the point that little of the original
artist work remains other than the signature and that also
may not be right.
If you are interested
in art and intend to collect just a few items or a house full
you will pay for your education either by the time spent in
learning about art or by the mistakes you will make in acquiring
it.
THE COST OF COLLECTING
You may find that
the art you like costs more than you would like to pay, but
the initial price should not be first concern. It maybe an
indication of lasting value, especially If the art is authentic
and in good condition.
Buying art from established
galleries and dealers of good reputation is your best assurance
authenticity and condition. Many galleries will guarantee
exchange for full at a latter date when you may wish to change
or update your collection. Taking advantage of their reputation
and experience can be to your advantage, especially if you
are not well acquainted with the type, period, or condition
of the art. Many times a well known dealers sticker on the
back of a painting increased the price, just because of the
dealers reputation for knowledge about that artist or period.
The more understanding
you have about art the more enjoyment you will gain from it
and the better decisions you will make about it.
ART AS AN INVESTMENT
Buying art as an investment
is speculative at best. For art to increase in value several
things must happen. It must be exposed to the buying public,
and a demand created. The artist must produce a sufficient
volume of work for it to be recognized as collectable. This
means the work must be seen, advertised and become well known.
Then as it is promoted and the demand created the price will
increase. Or the process of increased value must be left to
time and the quality of the work.
In 1889 when VanGogh
painted his famous sunflower series few were interested in
his work then, but almost a hundred years later when one painting
sold for nearly 4 million dollars it created a great deal
of interest. Big prices paid for art make big news and the
story is even much more fascinating if the art was found in
a garage sale or flea market for virtually nothing.
Art can also decrease
in value especially when the demand for the art and the increasing
prices are the result of very active sales promotion.
Advertising and promotion
are a important part of any business and the art business
is no exception. But large promotion campaign doses not create
good art only sales. A significant demand for anything usually
is followed by price increases. This type of active market
many times appeals to the get rich quick side of our personalities,
but seldom provides the wished for results.
Sense art maybe acquired
from almost anywhere it is important that you consider the
source. Just because a company is in the business of selling
art is not a guarantee that the salesperson knows a great
deal about it. Art is a product just like any other and this
means having a stock advertising, displaying, promoting, and
selling.
Art acquired from
antique shops, flea markets, privet party's and the like are
buyer beware sources. These types of businesses do not claim
to have more than common knowledge about art. Unless they
have made a written claim as to the arts value, condition,
authenticity it is buyer beware.
The truth is most
often the art that greatly increases in value, was never collected
because there was any though that it would, but only because
it was of interest to the purchaser. The occasional story
about finding a rare and valuable work of art always makes
good reading, but if put in the proper perspective you have
a better chance of winning a lottery. Of course the more knowledgeable
you are and the more often you look the better your odds.
Many artists copy
their own work and it is common to find several authentic
paintings of the same subject or view painted by the same
artist. These painting usually have an individual caricature
all there own as the artist interpreted the light, color,
view or mood of the subject.
Art may also be created
for decorative sale. Illustrations of popular subjects, executed
in colors to complement the current trends of decor. Studios
do these decorative paintings where artists are hired to work
on a production line. It is also not uncommon for a artist
to paint under more than one name. It maybe that the artist
has a exclusive contract with a gallery who is promoting their
work at substantial prices, and other names are used for work
that sells for much less.
Not only is it important
to know the origin of the art but its condition, both will
effect the price you will pay, but also what you can expect
to receive if you ever intend to sell it. Like most everything
else the closer to original condition the more the value.
Spend as much time
as possible learning about art, what it is, how it is done,
how to care for it, how to frame it, where and how to display
it. Art in history is fascinating, its influence on our lives
dramatic, it is an enjoyment, even an addiction when you become
involved.
The more you know
about what you are buying the better your choice will be.
If you are like most people your exposure to art has been
a casual one, visits to museum, local art shows, a art course
in school combined with the occasional visit to a gallery.
None of this prepares you to buy art. Art prices are a mystery
to everyone that's why we hear and read so much about them.
Your guarantee in
buying art from galleries and art dealers is that the art
is not misrepresented or a forgery, and at a later date should
you find that the art is not what you thought it to be you
have recourse.
Buying art is no different
than any other purchase. If you only kick the tires at a used
car lot you may find yourself with a lemon. If you don't question
the salesman as to just what you are buying and how much it
will cost you may find you did not get what you wanted at
the price you wanted to pay. It is always important to have
anything you don't understand fully explained. Don't hesitate
to check with another authority when in question. Have it
put in writing especially when it involves authenticity, value
or condition.
The only guarantee
to the successful acquisition of art is to buy art that pleases
you, pay for it to the full extent of your pleasure. If it
increases in value it is a plus if not you will have gotten
your moneys worth from your years of enjoyment.
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