When it comes to buying original works of art either from an artist or a gallery that represents an artist, there is only one rule: If you love it, buy it.
Sat 4th March 2017 at 10:30
Wed 29th March 2017 at 16:00
Artists include: Arman, Peter Blake, Christo, Alain Jacquet, Jasper Johns, Mark Lancaster, Julian Opie, Andy Warhol among others
collecting, buying, selling and making mistakes
When it comes to buying original works of art either from an artist or a gallery that represents an artist, there is only one rule:
If you love it, buy it. Whatever you do, do not think of it as part of your investment portfolio.
The same rule applies to the secondary market but if you decide to begin building a collection, there are a few things we have learned, while acquiring stock for the gallery, that you might find helpful.
IRRATIONAL OPTIMISM - This phrase explains our approach to purchasing art for resale because there is no ‘art standard’ set price.
There are blue-chip artists such as Andy Warhol and Jasper Johns, whose prices have risen year on year. Christo, Claes Oldenburg and Tom Phillips, may not be ‘household’ names but because of their importance in the development of contemporary art, any potential fall in price should be manageable & temporary.
Despite ‘BREXIT’ the art market is becoming increasingly global at all levels. Consequently the work of artists such as Arman and Jacquet, now generates more interest from British collectors.
Rarity is the other important factor in establishing the value of an artwork. A unique work is worth more than a multiple, a limited edition is worth more than a poster, a poster designed by the artist and printed in his lifetime is worth more than a poster for a posthumous exhibition. Signed works help but watch out for signed posters dated after the artist’s death (yes, mistakes have been made).
You can’t, however, look at rarity and artists separately, for example an important Lichtenstein poster may be worth more than a Claes Oldenburg drawing.
Finally we go back to the first rule:
Buy the work you love, it really will be ‘a joy forever’.