Tuesday, August 31, 2010

4 Fundamental Lessons in the Art of Buying Art

...' ART '... It such a simple word, yet its meaning is so obscure that our minds wander endlessly in search of the significance behind its exceptional beauty. That said, the complex world of art is not for those who enter unprepared. With its vast range of styles, timeline and artists, one may be overwhelmed by the truckload of information that needs to be digested and analyzed before one can be sure of what he/she wants. So, clear up your mind and chuck aside that complicated 200-page guide book on how to buy art and let us share with you a thing or two when it comes to buying art.

    LESSON 1 : THE INITIAL STEP
      Begin by asking yourself; Why are you buying art? If you are looking to decorate the empty walls of your home, any artwork - and not necessarily the expensive one - would do well for the walls of your home. If you're buying to collect artwork from a specific artist, then maybe you might want to get some research done. If you're buying art as a form of investment, you may want to study the market thoroughly and invest on someone reputable, dispersing the risk of buying works by lesser artists. We do hope however that your purpose of purchasing artwork would always be the latter - buying art for the love of art!
      • Rule # 1  - KNOW WHAT YOU WANT
      Once you know why you intend to buy art, it is time to identify the art that you intend to buy. That focus can be as broad as a style - Baroque, Neoclassism, Romanticism or Impressionism to name a few - or as narrow as a particular artist, such as Michelangelo, Raphael, Van Gogh, or Pollock. Your focus can also extend itself to a precise timeline or theme, among other factors such as price range or prominence (like the Mona Lisa for example,which technically, cannot be bought). That said, having a specific type of artwork in mind can help you purchased a well-rounded collection of similarly themed art.
      • Rule # 2 - KEEPING TO A STYLE & THEME  
       Most artists have a signature theme in their paintings, although they may style have a signature style. Some may paint yellow ducks for years on end, while others may keep to the Rococo style throughout their entire lives. Regardless, whether it is in the abstract or paintings of landscapes in Impressionist styles - most artists have a signature theme in their works. Others have more than one, while some have none at all. It is here that you need to know if you prefer to have artwork with similar themed subjects or similar artwork style. Remember that while it is okay to have a wide variety of paintings based on an underlying theme, you must be consistent style at all times. It may be okay to have various paintings of ducks in one's home in a variety of styles, but having a wide selection of different paintings in various shades of Impressionism, Cubism and Baroque can be quite unnerving. Most importantly, always select the piece that appeals to you most. 

        LESSONS 2 : IMMERSE YOURSELF IN THE SCENE 
        Once you know what you want, start by looking around and gathering more information on the type of art you are about to buy. It is most likely at this stage for you to bring a friend along. BIG MISTAKE!
        • Rule # 1 - DON'T LISTEN TO THE BEST FRIEND
        Remember that art is very personal and it is subjective; perceived differently by different people. While having your friend along for the company is okay, having a friend around to help you choose your purchased may not be the wisest decision, as it will only cause unecessary confusion and uncertainty. Always keep in mind that there is no wrong or right in art appreciation, just different perceptions. everyone is entitled to their opinion, but you are the one who is going to live with it forever.
        • Rule # 2 - VISIT ARTSY PLACES
        While you can browse through art magazines, art books or surf the net to widen your knowledge of the art world, nothing is better than getting yourself accustomed to the scene and talking to the aficionados. Visit as many galleries, open studios, workshops, exhibitions, auctions and art fairs as you can, as these locations are packed with passionate artists, enthusiasts alike, art lovers, art collectors even gallery owners. The exposure will help you find your footing in the scene, as well as give you some useful insight into your 'Picasso's and Da Vinci's.
        • Rule # 3 - ASKING NEVER KILLS
        Of course, don't just walk around without actually talking to people. Mingle around and get some advise! learn your styles, and ask when in doubt. The best advise on how to buy art usually come from dealers or curators, so speak to them. Allow them to guide you through the different styles or artists you come across, as their expertise will be useful to help you learn all that you need to know.
        • Rule # 4 - KNOW YOUR DEALER
        Keep in mind however that dealers are by nature, businessmen, and selling art is their job. Therefore, it is crucial on your part to validate the information about your dealer before you make any purchases. find out about the history of the gallery. How long have they been operating? Do they have a good track record? Are they among the cream of the crop? Do they specialize in a specific choice of artwork and what is the general price range? This may seem like tedious work, but you will be glad you did when you come home with a piece that you actually want, and not something that was force-fed into your throat by a smooth-talking art consultant.

         LESSON 3 : ALWAYS QUESTION AUTHENTICITY
          After you feel that you have gathered enough experience and knowledge - you now need to know how to tell an original from a counterfeit. Obtain a list - be it in period or style - and arrange them in tiers according to the order of prominence.
          • Rule # 1 - MASTER PAINTINGS ARE MOST EXPENSIVE
          Leading artists are more often classified to the highest tier, with lesser known artists categorized at the bottom. Essentially, the more prominent an artist is in his period or painting style, the more expensive these paintings are as well. Prices only begin to depreciate when the artist's works begin to progress farther away from the time he was at his most influential. Imitators who copy a leading artist also do not sell for very much. of course, there are some exceptions to the rule as some lower-tiers do sell very well of course, which could be a result of works from an exceptional artist or works that are much sought-after.
          • Rule # 2 - KNOW YOUR ART FROM HEAD TO TOE
          When it comes to the first tier, some very pressing questions need to be asked with regards to authenticity. While some may offer you a Certificate of Authenticity (COA) or an appraisal, don't be fooled; COA's are one of the most frequently abused documents in the art business. An invoice from the gallery may provide you with some proof of authenticity at purchase, but never EVER rely on documents to verify authenticity when purchasing art. It may be hassle -free, but learning to analyze art not only helps you understand more about the piece, but also strengthens your confidence and knowledge the next time you are out buying again.
          • Rule # 3 - A SIGNATURE IS AN ARTIST'S THUMBPRINT
          Most of us may assume that as long as the name of the artist is on the artwork itself, it most definitely genuine. Unfortunately, that's the wrong mindset to keep. It is important to be familiar with the artist - not just in his style, but also with his signature. does he normally sign with his last name, or does he use an initial? Is the signature usually signed in a lighter or darker colour? it may seem irrelevant at first, but knowing these little details help when it comes to the bigger picture. And not all artists sign with their last names, as well as not all artists will consistently sign with the same colour. Occasionally, artists even change their signature, from scripts to blocks or vice versa. The varieties are limitless, so it is always important to do your research before you buy any artwork, to prevent from making a costly mistake.
          • Rule # 4 - KEEP THE UNSIGNED, UNSIGNED
          An unsigned work in not uncommon. These works are usually the last few remaining in an artist's personal collection or studio; works which were not meant to be put up for sale, or which the artist forgot to sign. most unsigned works are likely to be genuine, but you should never attempt to have someone sign on it so as to "increase" its authenticity. Historical records would often indicate which work was not signed, and adding a signature to an unsigned piece of work would only raise doubts on the origins of the artwork. Worst still, that's defacement.

           LESSON 4 : WHAT SETS THE VALUE OF ARTWORK?

            While unsigned works may have a higher chance of being less of a forgery, we personally recommend that you purchase works by an artist with a signature on it rather than one without, so as to lesson the issues you have to deal with when you decide to resell it. That said, how do you identify a work by the artist of your choice when there's no signature? Simple.

            • Rule # 1 - AN ESTATE STAMP IS A GOOD A SIGNATURE

            Should an art piece come from the artist's estate, you will find a stamp of the artist's signature stamped onto the painting by those handling the estate. However, what is someone were to stamp works that did not come from the artist's estate? fret not. usually, a stamp would be destroyed immediately by the individuals involved in the branding, so as to prevent the occurrence of a forgery. Due to the strict security measures undertaken during the process, the value of a stamped work is comparable to that of an artist's signed works. One such example is of 19th century French artist, Rosa Bonheur, whose stamped works are still being sold at high prices in today's market.
            • Rule # 2 - EXPERTS DETERMINE THE PRICE HIKE
            Occasionally, you might come across a painter who doesn't sign his works. How then do you verify it's authenticity? you don't, experts do, and as long as experts in the art world believe of its authenticity - the painting will fetch millions of dollars. Old Masters paintings are also a good example of rarely signed works, while important documented works can equally sell for a premium prices.
            • Rule # 3 - TRACE AN ARTWORKS HISTORY
            Of course, when we say expert's opinion, we don't mean just pure verbal criticism - an expert's opinion should be backed by detailed documentation of the artwork, supported by scholarly research and sophisticated scientific examinations. And it is in this documentation that you can tap into its provenance and ascertain the chain of an artwork's ownership; a crucial element in determining its authenticity. the more complete and detailed this document is, the easier it is for you to trace the history of the artwork to its artist or initial dealer. That said, art is very subjective. you may have all the knowledge in the world about art, but if you do not have the eye for it - then you cannot understand the true magnificence within its canvas, Likewise, you can appreciate the charm of a striking oil painting, yet understand no meaning of the message - which is the beauty in itself-and that is a shame. As such, to truly understand art is to connect with its wonders allowing it to paint your world in a myriad of colours; touching your soul with emotion and awe. That is the true art of buying art - it is not about the money, nor is it about the satisfaction of owning something no one else has. It is about when you look upon it, knowing that you own a piece of paradise in a painting. And that is the true value of art.