Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site brl-tgr.ARPA Path: utzoo!linus!philabs!cmcl2!seismo!brl-tgr!wmartin From: wmartin@brl-tgr.ARPA (Will Martin ) Newsgroups: net.invest Subject: Re: Art as an Investment. Message-ID: <5244@brl-tgr.ARPA> Date: Fri, 12-Oct-84 15:52:06 EDT Article-I.D.: brl-tgr.5244 Posted: Fri Oct 12 15:52:06 1984 Date-Received: Sat, 13-Oct-84 08:50:49 EDT References: <371@felix.UUCP> Organization: Ballistics Research Lab Lines: 55 A good article. It inspires some questions: About buying current "unknowns" which might or might not become famous and their works much more valuable in the future: The kind of advice about this I have usually seen is to "buy what you like, and enjoy it for what it is"; if it happens to be worth many times what you paid for it 20 or 40 years down the line, that's nice. If it isn't worth more than you paid for it after that time, so what? -- You've enjoyed having it, so it has repaid your cost in that fashion (same as buying any other toy or amusement). What I am wondering about, though, is how to determine what to pay and where to buy this "unknown" currently-produced art. If you live in New York, I suppose there are hundreds of galleries and individuals selling art on the sidewalk. Your problem then is picking gems from dross. But, outside of such a center of artistic activity, what approach would you recommend? I would hesitate from buying from what galleries there are; you will have to pay the owner's markup, which will reduce the investment potential (and might eliminate it entirely); this leaves locating the artists and buying directly from them. What methods would you suggest in doing this, and how would you determine a "fair" price to pay? Are arts/crafts fairs worthwhile, or are the things you find there on a level inappropriate to what would be considered "real" art? What about buying students' work, if there are universities or colleges in your area with art departments (do the schools sponsor some sort of sales procedures)? I suppose a wealthy patron finds all sorts of opportunities to buy art works, but what about the average person who would like to get the most for a few hundred dollars' investment? Determining prices for art is pretty much black magic, it seems. For recognized artists, auctions with institutional bidders determine the multi-million-dollar and suchlike high-range prices we read of. But what about buying from the artist directly, when there is no international reputation or fame to artificially inflate the value? Should such art be bought on a "time and materials" basis, without regard to paying for the "artistic inspiration" (which is what might eventually make the piece valuable as an investment!)? If the artist is trying to make a living from the practice of his/her art, they have to charge enough to cover their time and costs, of course, just like an auto mechanic or plumber; but are they entitled to more because they put some of their soul into their product? I admit I don't know much about this; that's why I'm asking. I know I find it hard to accept paying what is to me a large sum of money for a decorative object (harder than I find paying the same amount for hifi equipment or guns or other toys). Maybe this means that I will never have the attitude that will enable me to buy art, as an investment or for its own sake. And maybe this attitude is common enough that this is the reason we normally cosider art collecting to be reserved for the really rich. Will Martin USENET: seismo!brl-bmd!wmartin or ARPA/MILNET: wmartin@almsa-1.ARPA