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07/27/2009: "HOW TO COLLECT ART-THE MOST EXPENSIVE LIVING ARTIST !!!"
* INSTINCT AND INTUITION *CONVICTION *PASSION * HAVE AN (ACQUIRING MIND) * PRACTICE AND CULTIVATE PATIENCE * OBSERVE * USE YOUR IMAGINATION
A big part of the pleasure in collecting art has been the educational process and the gradual development of greater self confidence. Lucian Freud is a British Painter type: Contemporary Art, is said to be the "most expensive living artist at auction of the 21st Century "...,with a "Big Sue"painting.The painting called: " Benefits Supervisor Sleeping" sold for $ 33.6 million or �17.2 million at Christies in May 2009.The Sitter is (Sue Tilley ) and she sat for Freud over a four year period.The London based Russian oil billionaire Roman Abramovich is said the buyer of Lucian Freud's Big Sue and Francis Bacon's triptych which sold for $ 86.3 Million or �43 million. Trust your instinct especially if you want to collect art meaningfully. Meet someone who will take the time to educate you more to have confidence in your tastes and if you are a couple,you both try to get there together;Learn about different artists and have different pieces in a collection,your appreciation grows the more you look at art. Collecting is not just buying art,it is really spiritual which you have to have a 'passion' for. Is esthetics, rather than economics,is the guiding principle when assembling a great collection?However,in the late 90s,new art collectors face a bewildering array of choices. Not only they have to choose a focus -which medium,which period,which artists-in the increasing diversity of fine art but must also make decisions about budget and value in an ever-fluctuating market. I know of a budding art collector ,who saw a painting by a Jamaican master painter and paid down monthly until she finished,so, one doesn't have to have a lot of money to start collect; I say to anyone in terms of collecting an artist,it is important to collect works from different time/period as the artist progresses;
HOW SHOULD A COLLECTOR BEGIN?' spend a lot of time looking'.'Go slow,ask questions and be sure you can't live with out it; 'look at lots of different work,visit galleries,museums etc.'Build your visual vocabulary';'Visual literacy takes time';Icons like Picasso, Von Gogh etc, you just have to look at or you may buy prints of their works. As you learn more,you learn to get comfortable with different kinds of images.
MEET EXPERIENCED COLLECTORS ,an interview by ARTnews around the world for the tenth annual ARTnews summer issued 2000, THE WORLD'S TOP 200 COLLECTORS (and its Top Ten),the list of the world's most active collectors. It should be pointed out that not everyone agrees completely with the philosophy of Crosby Kemper,one of the top 200.THE TOP TEN: Debbie and Leon Black, Edythe L. and Eli Broad, Doris and Donald Fisher,David Geffen, Ronnie and samuel Heyman, Marie-Josee and Henry R. Kravis, Ronald S. Lauder, Francois Pinault, Charles Saatchi, Helen and Charles Schwab. It's the "wow" factor .That's what determines whether Crosby Kemper, a Kansas City banker,buys a work of art.Kemper,who collects Old Masters as well as modern and contemporary art,had this revelation in a talk with art historian Irving Sandler,for the catalogue of "The Collector as Patron in the Twentieth Century". Kemper and many other collectors are being wowed quete a bit.(quote), "This art market is the most active and serious market we' very ever seen",says one dealer( end quote) .It can be an artist or anyone but it should be one who relate how his first encounter with a work(s),it doesn't have to be a professional adviser but one who has started and can't stop,who lives art; Even when you listen to people,you have to "LISTEN"to "YOU". Some collectors don't take nor ask for advise,they collect from the soul,the work has to touch their soul,like love,love don't ask for advise to love,its how it makes you feel,if its real,its true; Museums are making themselves accessible,willing to talk to new collectors so, you can join their mailing list.Talk about art in your own language and even when you would have learnt other language(s),there is no "The" way to talk "ART" so,dont be shy when you meet the art connoisseurs.Some times i hear people say,i dont know nothing about art,you know about art what you know,so,talk what you know,in your own language. Read about art/art history and the different art periods,style,movements, concepts in art and compare them.The more you study the history of art,its the more you get a sense of continiuty, meaning,the history of art continues with time.I advise collectors to seek out an art appraiser with expertise; It is said "the best collectors are knowledgeable" ,that's relitive...?However,what makes a collector knowledgeable?One who collects none stop...;Get update on art research,what could be worse, if you find out that the artwork you just bought is stolen or fake?'Not finding out until you try to sell it or your children finds out when they inherit it'.An art researcher works on monographs in which they have to prove whether or not an artist did a certain work.When you can't get a straight answer about a purchase you made or are about to make,"that could be the first clue something's wrong".Be wary of the so-called incredible deal/bargain."Train your eyes for the possibility to avoid these situations." Take a art history/looking at art course if you have the time but i think you should have time because serious collecting takes time,even though collecting for years is like,taking an actual course...? Buy books on art of different period; Find out how museums collect the cutting edge and why?
WHO CAN YOU TRUST? "One way to find a dealer to trust,is a dealer who makes himself available.Someone who will help you to build a collection with 'significance', who will work with you and teach you to trust yourself". A dealer "should point collectors toward the best pieces" because as a new collector you may respond out of emotion. A trusted dealer makes sure you take the pieces that evoke a resonance that will always be evident each time you gazed at it. As an artist,I find the best dealers are good counselors and it will take time to find same. There will be exhibitions that asyou enter the door unless you are prepared to spend huge cash but get comfortable,you are in for a few of those shows. Approach the process of collecting with out unduly influence by a dealer but you should be seen and felt in what you collect."The more you be yourself and know less,it is a matter of trust".
WHEN TO RUN ? Never chase a dealer to get something to buy. Find a dealer who at least gives a level of respect and some dealers never make eye contact.
TO SPOT A "HARD SELL"." Watch out for those dealers who are sales people trying to sell a commodity they know nothing about", salability is not the goal and trust comes from believing in the artwork". "A dealer who trust their own choices doesn't justify the work by the resale market but by art history ". Certain hard-sell tactics,such as "the last great bargain" syndrome. " Never buy simply because the dealer says this is the last or the prices are going up.Prices may or may not increase but in either case,that never means anything." Take counsel new collectors,never buy simply because you are told that something will increase in value." You will only get a record of what other people thought was going to go up in value."
WHAT TO BUY FIRST? " Start with drawings to develop an understanding of the artist's process." Get posters and postcards.Put postcards all over the walls of your home or office. It trains you to look. You can learn even from a poster whether (a work) is the kind of thing you must have. You learn what you love and what is forgettable." "If you look at the great collections of the world ,they never spent more than several thousand dollars to start". "It's an evolutionary process." A young aspiring collector said, and i quote "I started fresh from college on the way to medical school and dealers were willing to work with me,with payment schedules and for smaller works." "I didn't have much money when i started but i was not shy asking about having three months to pay,"says Hall. "I couldn't do it but i recommend starting with a focus, such as photography,then broadening gradually," end quote. "If you look at it as investment of time,not money,you can find great works in artists' studios or at charity auctions." "People who race around and expect to get a masterpiece in a minute don't understand...; " There's the initial impact when you look at a work for the first time. But then you have to consider, does it endure? In a lot of cases, it doesn't. After awhile,you might say, 'Nah, it wasn't that great.' " Nah, but greatness is what's selling particularly well these days. "Great works of art are going for great prices and mediocre works are going for mediocre prices." "That was not the case during the boom of the 1980s,which proves that people know what they' re buying. It's a high-quality market,with lots of new collectors who have a lot of money. "The market is very much dominated by Americans. What's especially healthy is that the whole speculative element of the '80s is gone. Now the buyers want to keep the works.They're not going into bank vaults." A trend watcher has this to add: (quote), "The big highlights of the recent auctions were the contemporary sales,when records were set for 26 contemporary artists in 2000. The contemporary market is very volatile,of course. It can change quickly. But it's really in,which it hasn't been for quite awhile. Some folks are saying that they' re seeing an upsurge of realistic and representational art. It's a new kind of representation-it has twists and there is confusion in the imagery,as opposed to the old-fashioned representation. And,keep in mind, not all the action is at auctions. An increasing number of important sales are being made privately, at the galleries." The trend watcher is not a dealer,end quote. Another interview,i (quote) So,how much longer will it last? "We very seen many cycles," says another trend watcher,who is a dealer and has spent millions of dollars on art for clients in 2007. " There will be a down cycle. I don't see the end but i hope it slows down a little." end quote;
HOW TO GET THE RIGHT PRICE? "Look at what things have been selling for at auctions or at past shows." Advise from a collector and (i quote) " When i first started collecting, i was buying Pop artists (from) the Pop period. This was a big mistake. I wasn't getting the art i wanted,I was just getting the names i wanted," recalls Gelb, end quote." "Everyone wants to own a piece of a famous artist but the right way to collect is to buy the best piece by an artist at the best time". " No one wants to lose money, so talk to the dealer and ask if you can exchange the work in the future,or if they will be able to resell it if you later want to buy something else or something better by the artist." I was asked to resell five of (my own early works) by an art collector, who wanted some money and i did sold them, to other collectors and one piece to a major institution,bank of Jamaica (BOJ);
START A RELATIONSHIP WITH THE AUCTION HOUSE? "Introduce yourself to the representatives in your field of interest. " "You should know the people at the auction house as well as you know your favorite dealer." It is recommended that to new collectors: " Auctions are not the best way to get started because the beginning collector doesn't have expertise and experience to separate the wheat from the chaff. After you have seen several hundred works of art and having looked at all the material before the auction,you can try. But personally, i would recommend the new collector to observe,listen,learn,ask questions,especially if he wants to go into it for investment reason. Otherwise you can collect by saying,"WOW" and listen to nobody ,just "collect"; Start by visiting an artist of your choice,charity auctions etc...; Certainly one who buys at auctions without looking at condition (of the work) and talking to the dealer who handles the artist,or even as simple as taking a piece off the wall to look at the back of the work is not ready because a work of art is not about (face value) but a wholistical look; Look at the structure a work was done on,asked the dealer or artist on what ground it was done on; One of the best ground/medium is "Gesso...",for paintings; Get into the habit of questioning the artist,whose work you intend to invest in,you can't get into the spirit of the artist but deep information you wont get from anyone else; As an art creator,one of the first books i bought was a (Dictionary of Art Terms),of course i have an (Art history book;) A collector should be as passionate as the artist who is serious and collect books of art to read on: Styles Techniques, Periods/movements etc...;
HIDDEN COSTS OF ASSEMBLING AN ART COLLECTION : "The costs of restoration and framing is another real financial problem and insurance is vital. "If you are buying works on paper, no direct sunlight. Not even indirect sunlight", If the works are going to be on a wall, it needs to be glazed according to museum standards with acid-free matting and ultraviolet light-resistance glass. If the work is more than ten years old, you should have an art conservator look at it before it is being framed." "One of the things you should realize as a first time collector is that you are buying objects that have a life of their own." Maintain them and you may have to loan them to artists and museum. You may find yourself calling museums to collect large pieces futuristically. " Conservation of works (is the greatest hidden cost ). It is imperative to do your home work ." "You have to be keen enough to spend money to get advise on keeping your collection. You will need to think about , how you are going to deal with contemporary art,what is going to happen to them over time,if you want to keep them.
THE BIGGEST MISTAKES A COLLECTOR CAN MAKE: " If you are not informed enough,you buy something that doesn't posses the depth a work of art should evoke." " Most mistakes have been being too conservative," "Sometimes you pass on something and later you realize you should have gotten it.But it alwayscomes back (on the market) later. It is better to take chances. If you are a person who buys art like commodities,you will wind up with stocks of certificates on your walls. You will have things you can't live with. " Buy what evoke your imagination, that has life's energy. Valuation of Art works requires a thorough knowledge of the art in your country. A history of the art market and an up to date knowledge of the current market; It is the way anyone who deals in Art should study world Art market to know who and what is doing what, who is selling for what, who's upcoming, who to watch; Be a member of an Art Dealers Association of your country. When you buy a work of Art, you are going to be living with it or them for the rest of your life,possible; Each work is like a child,it asked questions;
By Artist John Powell www.absolutearts.com/portfolios/j/johnpowellpaintings
