ArtInfo - Valuing the Work of Artist with No Auction Trail
If you've not seen this ArtInfo.com Column by Robert Ayers yet.. it's worth a look.
I love this quote by Zack Miner of Christies, it really sums up much of what has been going on in Chelsea today:
“With the speculative way in which many people are now approaching the emerging artist market, Miner continued, “I think that something’s being lost, and that’s the role of collectors of emerging artists as true patrons.”
- 1. Don't expect to buy the work of an emerging artist either expecting to make money, or even have it retain it's original value. It's best to think of it as your own private way to support the arts, and the artists.
- 2. For new work by currently producing artists, most auction prices tend to be 25% to 50% less than same work at a gallery
- 3. Only if the work is recognized as quality and the artist is perceived as hot, might it sell for much more than current gallery prices
- 4. No one really knows what the value of an emerging artist work is going to sell for at auction..that's why they are called EMERGING ARTIST!!!