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January 16, 2009

ArtCycle.. A new Website to Buy and Sell Contemporary Art

ArtCycle.. A new Website to Buy and Sell lightly used secondary Contemporary Art.

Art_Pawnbroker If you've not checked out new york based, www.ArtCycle.com, you should.

It's a new curated website (aka.. a contemporary art pawn/consignement shop), and like Artnet.com it also is helping give the much needed liquidity and transparency to the contemporary art market.

Here's a little Art industry secret... sometimes Collectors need to sell art. Yes, my little MOA-ettes, it's sada bit funny..but given these tragic  difficult economic times, totally understandable. While MAO has never sold a work of art from our beloved collection, lately, MAO probably gets at least  one email everyday from a reader saying they own a work by XYZ artist and they need to sell it.

Generally the next sentence is always, the gallery that represents the XYZ artist doesn't want to buy it back (or maybe soon to be already out of business), and the auction houses need 3+ months to fit into their schedule and take way too much 25%.  The person needs the cash now, and if MAO would please like to buy it.  Or some people also ask if MAO knows someone who would like to buy it. Well.. we now have a solution for these people!  Check out www.ArtCycle.com !

They only started up in November 2008, and they actually have an impressive list of Contemporary Art inventory already.  They already have works by some impressive artists : Araki, Eggleston, Oliver Boberg, Hirst,Candida Hofer, William Kentridge, Opie, Anselm Reyle, Lisa Ruyter, Andrees Serrano, and Kehinde Wiley just to name a few.

So.. Here's a bit from their promotional materials...

For the collector, ArtCycle offers a space to contemplate their purchase

while providing valuable information about the artist and available works,

as well as something no one else does, detailing relevant and valuable

market analysis. ArtCycle offers reasonable commissions, ranging from

15% to 20% and, most importantly, all works are curated for consignment

by a seasoned team of art experts.

Most importantly, ArtCycle’s curated inventory offers only artwork with

pedigree. That means works of art by artists with lasting reputations and

market value—so every piece purchased is likely to maintain or increase

its worth over time. ArtCycle believes collecting art is not only an invested

labor of love, but also an investment.

Oh..and if you happed to contact www.ArtCycle.com... (Lauren Pearson, Assist Director,  lauren@artcycle.com) be sure to tell them MAO sent you.. and I'm sure they'll give you the special MAO-ette discount rate!

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mmmmmmmm...The Catherine Opie ones look pretty affordable.
Now, I know where to go when I hit the poor house...or I am already there?
Thanks MAO!

Thanks for the advice! Also www.artnet.com online auctions is a great place to sell art. It only costs $25 to list your item and they take 10% from the seller and 10% from the buyer only if the work sells. They have all types as well: photos, prints, paintings, sculpture etc. Happy Bidding!

This looks really interesting. Thanks for the tip.

Hmmmm...most of these pieces are just large editions (like through Schirmer Mosel or Blind Spot or wherever) that probably wouldn't even garner half as much at a regular auction...auction houses, even Phillips, probably wouldn't eve take them. Most are readily available much cheaper through eBay or ABE. Nothing much of any quality. Looks like just one person's personal collection rather than a cohesive site. It's a clever marketing tactic, but I'm afraid it won't fly. How is MAO affiliated with this site?

While Im a little skeptical myself TheSkeptic it's a pretty negative tact. I worry that it might just become another outlet for that 'Artery' jerk (etc.) to scalp his benefit editions but it's not everyday, or ever you can find a nice Sue de Beer, Anselm Reyle on ebay. But the prices aren't exactly great, especially considering the 'economic climate.'

While it's not every day you can find a nice Sue De Beer, considering that her work has been 100 percent unsold recently at auction in the $4-6K range, why would anyone buy it from ArtCycle for $5000? Isn't that about what these pieces cost in the primary market?

And I'd be pissed if I were Anselm Reyle. To go from selling pieces for hundreds of thousands to being included in some lame-ass desperate art-for-sale site is a major step down in stature.

And both pieces are from 2004, which makes me convinced that these are all the castoffs from a collector who bought a bunch of stuff a few years ago and now has suffered the same Wall Street fate as the rest of us - perhaps it's even the collection of a securitized investment specialist who got in over their head. Nothing wrong with that, but as you say, the asking prices don't reflect the current economy.

Thanks for the messages..

The Skeptic asked..
- How is MAO affiliated with this site?

MAO has NO Affiliation with this... was just pointing out a site I thought helpful. It's rare to see a site with actual prices.. and some not too easy to find art for sale...plus they are working for much less commission than most dealers and the greedy auction houses.

I'm sure the quality of their art for sale, and the prices depend more on which sellers they are in touch with and what they want for it.

Thanks Art Brute..
-the prices aren't exactly great, especially considering the 'economic climate.'

MAO agrees some of the prices are way too high...
But, FYI.. if there's something you like.. They also will consider lower offers for any of the items for sale. Just email them.

Hmmm.. Looks like a useful website.
It's not too often galleries or even Artnet posts the prices of
art for sale.

But I have to say.. some of theose prices are ArtCycle.com are way too high!
Those Araki Photos go for about 300 dollars on Ebay, and they are askig $2,000.

Plus those Mosimo Vitali photos are also way over priced. I believe those come from a portfolio which was 50 images for only $10,000, the person trying to sell those, is ripping the buyers off.

Well..hopefully the owers of ArtCycle will figure their prices out, cause the website has a lot of potential..

Thanks for pointing it out!

I don't think we can judge from the handful of works on the site. We'll see what turns up over the next few months, and what the prices look like. It may be that prices are a bit high to encourage consignments.

ArtCycle is also on Artmo (http://www.artmo.com), which nearly always lists the prices as well. You're also able to make offers and purchase the works directly from the website, as well, and not just from ArtCycle but from a number of different galleries around the country (it may actually go outside of the States). You can also zoom in on works, email them to friends/clients, compile a list of favorites, etc. Another great and up-and-coming site.

I don't really understand why everyone is complaining about the supposed high prices coupled with the current economic state of things. It's a list price. Any seasoned collector knows that they can work with the dealer in lowering the price that works with both parties.

TinyTim brings up a great point. They're just getting started and need to attract selling collectors at the moment, which is entirely what they're currently doing now. Deals - I am sure - are being made behind the scenes to collectors purchasing works from them.

Great work, ArtCycle. You've got a great concept going on.

Ok, and can talented artists like Ruslan Korostenskij, who is a revelation of the modern painting in the former Soviet Republics, get representation in the Artcycle? Are the internationals welcome?

so great, thanks for sharing!

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