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#13
06-08-2007, 05:57 PM
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Re: Art Collecting/Investing
[ QUOTE ]
the exhibitions on the hackett freedman gallery look really boring to me. edit: lol guids, how much would one of those paintings cost? Magritte rules. [/ QUOTE ] Enough that the only way Ill have one any time soon is to steal it. 
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#15
06-08-2007, 06:06 PM
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Re: Art Collecting/Investing
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thats what I meant by "lol." Wanna speculate? Couple mil? I know nothing about art. [/ QUOTE ] No, not that much, I actually looked into it a about 3 or 4 years ago when I was taking art history, and you can get one for about 200k, maybe cheaper for his smaller/lesser known stuff. Id bet The Son of Man is probably millions though.
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#16
06-08-2007, 11:24 PM
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Re: Art Collecting/Investing
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If you want to buy art (please do), buy it because you love it. Purchase art that you enjoy owning and looking at. Meet the artist, make a connection, support them and become vested in their work. [/ QUOTE ] This is the best advice for buying art for yourself unless your very educated and have a good contact line on what to "invest" in. Most dealers/galleries have only themselves in mind on what to push or not. I personally am a very big fan of street art and graff. I have a whole bunch of stuff that is probably worthless, but makes me happy when I look at it. I really only have one big score, which is a original Kaws bus stop piece I paid 1K. I have been told its worth as much as 20K. Honestly, I am not sure if I would even part with it for that even if I had a serious offer.
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#17
06-09-2007, 12:18 AM
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Re: Art Collecting/Investing
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I really only have one big score, which is a original Kaws bus stop piece I paid 1K. I have been told its worth as much as 20K. Honestly, I am not sure if I would even part with it for that even if I had a serious offer. [/ QUOTE ] Awesome.
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#18
06-09-2007, 10:12 AM
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Re: Art Collecting/Investing
Just out of curiosity, can anyone give a rough estimate as to how many artists are making $1M+ a year? It seems like top artists make a staggering amount of money. I remember seeing a documentary on Lichtenstein made while he was still alive and it mentioned that his new works sold for between $800k and $2M depending on size.
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#20
06-09-2007, 11:43 AM
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Re: Art Collecting/Investing
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nyc, I am a big art fan, but haven't been into collecting/investing at all and don't really know anything about it. Just recently I started going to galleries more often and starting to learn about the collecting world. A couple of friends of mine are pretty avid collectors (in the $10-50k range of purchases) and they have been introducing me to some folks in the gallery community here. Hackett Freedman is one gallery I really like. One of the current exhibits there, Guy Diehl, is the sort of artist I would like to buy earlier in his career before getting very expensive like his work is now. As has been said already, I'd be buying stuff that I really enjoy having, with the financial possibilities secondary. Seems like a lot of reading, a lot of gallery visits, and talking to lots of people about which up-and-coming artists they really think highly of is the best way to do that sort of thing. On the professional side, the gallery owner told me a pretty crazy story. He said, partly due to Europeans and largely due to Asian collectors getting much more into the scene, art prices have been going up very steeply in the last couple of years. Especially Postwar American works. His job is basically to scan every auction listing every week. He showed me one artist (I'll have to go back to get the name) that he had been trying to sell for a while for about $150k. He ended up getting about $200k for the painting, a nice almost 100% profit. He said he was very surprised at how quickly the buyer said yes with little to no negotiation. But then two weeks later he saw it auctioned off for $600k!!!! Apparently he had missed one auction report a month or so back where a number of this artist's works had sold for 2-3x what they were going for a year earlier. Lots of random and unexplained spikes in this market, makes the stock market look easy and calm. [/ QUOTE ] another asian financial crisis and ill pick it up on ebay for $500.
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