Art Addict

Collecting Tips in the WSJ - Take 3 and 4

The third and fourth recommendations for collectors looking for good investments in art under $5,000:

Eduardo Sarabia, Sierra de los Milagros, 2003 sold for $2,500

3) Latin American Art: "This area is getting a boost from museums across the country that are eager to court a growing Hispanic population. Often, strong museum interest in a particular kind of art, even though it's generally for work at higher prices, is a leading indicator of how the cheaper stuff will do over time." No artists were named in this section, but they narrow the field by stating that the most promising Latin American artists are from Columbia and Brazil. They recommend that in this category you buy work at galleries (most specializing in this area are found in Miami and Los Angeles) rather than going to the auction houses, for the auctions tend to carry "very commercial bad art".

I know next to nothing about this area, so I have nothing to add. Sorry. Through a Google search I learned that the self-proclaimed "leading magazine on Latin American and Hispanic art" is ArtNexus which seems like a good place to gather information if you are new to this market. To help further, here are a few tips directly from the article:

Rarity is key. If an artist spends 30 years churning out similar-looking works, the value goes nowhere fast. Durability can also be an issue. Lots of artists in this field work in cloth, platic flowers and wood, and if an artwork is too fragile, it may be expensive to maintain (and might be hard to resell). And ask about pedigree: Artists, even young ones, who've won awards at art events such as the respected Sao Paulo Biennial are likely to stick around.

4) Small Antiquities: Since this blog is about contemporary art, I'm not going to write about this last recommendation. If that makes you mad and you would like to see what they have to say, please send me an email and I will send you a copy of the article.

Also, I encourage any of you who have something to add to this discussion - tips, opinions, favorite artists, or anything about 20th Century Prints, Color Photographs, and especially Latin American Art - to please leave a comment. Thanks.

Collecting Tips in the WSJ - Take 2

The second of four recommendations for collectors looking for good investments in art under $5,000:

Didier Massard, Spring Tree 2002

2) Color Photographs. Two artists were named: Gregory Crewdson, as an example of an artist selling for more than $5,000, and Justine Kurland, a student of Crewdson's with work selling at auction for roughly $4,000. The article claims that now is a good time to buy color photographs because the prices are heating up due in part to "technical advances in the darkroom that allow for richer hues." That is the gist of the information provided on this recommendation.

I have been collecting contemporary photography pretty steadily since 1998. The photography trend (more artists working in the medium as well as more interest from collectors and galleries) is not new but has remained strong. (There are a number of sub-trends, as well, - set-up versus straight, video stills, etc. - that weren't discussed in the article that I may post about later.) There are still many great deals to be had out there. The article points collectors to the secondary market (auction houses). I recommend you head for the galleries - especially if you are new to this medium so you have an opportunity to get answers to all of your questions. ("How important is edition size?", "What's a c-print?", etc.) Here are a few of my favorite artists, all of whom I have collected recently. Prices for work by these artists were at or below $5,000 at the time I purchased them.

Uta Barth
Andrew Bush
Miles Coolidge
Sharon Core
Todd Hido
Nina Katchadourian
Didier Massard
Coke O'Neal
Orit Raff
Richard Renaldi
Daniela Rossell
Spessi
Dirk Westphal

Museum curators are now recognizing color photography as important work thanks in part to the increased archival quality of materials available to artists today. A little bird recently shared with me that the ADAA and AIPAD are planning a conference on color photography to be held at the Metropolitan Museum of Art sometime in the next year.

New collectors interested in getting a broad view of this market should pick up the following magazines: Blind Spot, Aperture, and Art on Paper.

(Please note... At the risk of appearing self-serving, I had to include two Mixed Greens artists because I have collected their work recently and, as a collector, I feel as strongly about their work as I do the other artists listed above. Please forgive.)

Collecting Tips in the WSJ - Take 1

The Wall Street Journal ran an article on starting an art collection titled Your First Picasso by Brooks Barnes on Friday, April 4. If you missed the article or are not a subscriber to the WSJ (which means you can't access the article on-line), I have spelled out the highlights (and added a personal comment or two) here. These cliff notes will be posted in sections.

The goal of the article:

With the neophyte collector in mind -- and also more-experienced buyers who want to add cheaper works -- Weekend Journal went in search of strategies for finding less-expensive art with the best chance of increasing in value.

Here is their first of four recommended strategies for finding works at $5,000 or less:

1) Buy 20th-Century prints at auction or through private dealers. Last year, print sales at the big New York auction houses "totaled $31 million, a 35% increase over 2002." Recommended artists: only Picasso... no other artists were named, except as an example of price increase. Takashi Murakami prints sold for $2,800 in 2002 and $8,000 last March. If you didn't get one in 2002, his prints are now above the $5,000 limit they are writing about. They recommend buying Picasso prints from the late 60's or early 70's because prints in all other periods are over the $5,000 mark. My favorite tip: "Try to avoid [Picasso] works that are overly erotic; it keeps value down." Very funny. Recommended auction houses outside of New York and LA are Ivey-Selkirk in St. Louis and Skinner in Boston. They recommend you see a print in-person before buying it to assess condition (torn edges or frayed corners are no-no's); therefore buying a print on-line is not recommended.

I think this recommendation is best for the Investor Collector. (Actually, the whole article is geared towards this type of collector over any other. No talk of collecting out of passion for art in this article anywhere. Then again, it is the WSJ.) If you are looking to collect as an investment, this is the route for you. As you would research a stock, so should (and can) you research a print by most 20th Century artists before heading to an auction. There is a plethora of information available to you by checking out auction results at artnet.com or contacting the auction houses directly to request price lists. Some auction houses even post their recent auction prices on-line.

Wanna be an "Art Star"?

Debs & Co. have a "really whacky show" (to quote gallery co-owner Choire) taking place in their Chelsea gallery right now. Make work - paint, draw, cut, paste - during your visit to the gallery before May 8 and they will include it in the show. They'll even try to sell it for whatever price you chose. If they sell it, you get 50%.

Art Star/Sausage Factory
April 15 - May 8
Debs & Co.
525 West 26th Street, 2nd floor

So, now it is your turn to show "us" your definition of great art and have fun trying to set prices for your own work. Debs & Co. have also invited artists and other "whacky" friends to particiate so there should be some interesting work to see. Check out all the details and rules.

Life Imitating Art?

Saw this van parked in Chelsea. What would Arne Svenson think?

Shows to See - New York

After strolling around the hood (Chelsea) yesterday, here are my recommendations:

Last Chance to See...

Unchartered Territory: Subjective Mapping by Artists and Cartographers
March 5 - April 14
Julie Saul Gallery - 535 West 22nd Street, 6th floor
Group exhibition: Many talented artists focused on the theme of mapping. My favorites of the bunch: Jonathan Callan, Gonzalo Puch, Kathy Prendergast, Lordy Rodriguez, and Dan Zeller (pictured: Gonzalo Puch, Untitled, 1998)

Buy, Buy, Buy...

Paper Chase, curated by Renee Riccardo/Arena
April 1- May 8
Axel Raben Gallery - 526 West 26th Street, #304
I had never been to this gallery before. I think it is new, but don't quote me on that. This is a fantastic group show of works on paper. There is nothing "usual" about these works on paper, many of which are sculptural, and there wasn't a single piece that I didn't like. I even bought something (and I wasn't planning on buying when I set out yesterday!). This is the perfect show for new collectors interested in works on paper. Prices range from $300 - $3,000. My favorites: Works by Jon Rosenbaum and Doug Morris (pictured: Doug Morris, Untitled, 2004)

Joe Ovelman Like a Virgin
Oliver Kamm/5BE Gallery - 504 W. 22nd Street, 2nd floor
"Named after Madonna's 2nd LP, Ovelman shows new photographs, drawings, and a recreation of The Rambles in the back room." I am recommending this show to new collectors because Oliver shared with me that in this show (and most shows at his gallery) he includes a set of very affordable pieces ($125 framed) by Ovelman to appeal to a new and young collector base.

Best Experiences...

Jim Lambie Mental Oyster
April 1 - May 1
Anton Kern Gallery - 532 20th Street
"A new exhibition of artwork by Scottish artist Jim Lambie. His third solo show in New York features new sculptural work fabricated from doors, vinyl tape and sequined tube tops." I had a blast at this show. It has all the highlights - doors, floors and vinyl! I have been a fan of Jim's for years, meeting him at Modern Institute in Glasgow before he had NY representation, and I think this show is one of his best.

Martin Honert
March 5 - April 24
Matthew Marks Gallery - 523 W. 22nd Street
I don't know this artist and I wasn't a huge fan of the work when I entered the gallery, but in the back there is an incredible piece that must be experienced. I can't describe it. Just go see it. Works in this show run between $125,000 - $300,000, so if nothing else, go to check out what sells for that much.

A Classic...

David Smith Related Clues
March 13 - April 17
Gagosian Gallery - 555 West 24th Street
Now showing at Musée de Gagosian is a broad exhibition of David Smith's work from 1931-1965.

Coming soon... Williamsburg recommendations

Creative Budgeting

I'm an art addict. Especially when it comes to collecting. As an addict, my habit can sometimes get the best of my financial good sense. When I fall in love with a work of art I sometimes think about the financial consequences after the purchase has been made. Oops.

New collectors generally worry about money before jumping into a purchase. I often hear questions like how much should I spend on original art, or how much is too much? Art is a luxury item (albeit a necessary luxury item in my life) and only you can decide how much is too much to spend on luxury. Getting comfortable with how much you want to spend on art before making a purchase should help make the experience that much more enjoyable.

Here are a few creative ways friends of mine cope with establishing budgets, setting limits, and sticking to purchasing guidelines for their art collections:

Wedding Bliss: Dan and Lisa base their art spending limits on how much they spend buying each other wedding anniversary gifts. Instead of spending hundreds on an anniversary trip, fancy dinner, or gifts they pool their money and once a year purchase a work of art together. They have fun researching artists that they like all year, visiting galleries and reading articles and reviews, and generally make their yearly purchase around the time of their anniversary.

One Lucky Baby: Kelly and Lee have started an art collection for their daughter Sara. Every year for her birthday she receives a work of art so that one day she will have a beautiful collection to call her very own. When she is old enough she will be able to choose her own art as a birthday present if she so desires.

Pennies a Day: Andy collects loose change (and a random bill every once in a while) to save up for art. At first I thought it would take years to collect even $100 of change, but he informs me that he has been able to save upwards of $700 in a six-month period. Not bad! He has established fun rules to help grow his art fund: All money found in pockets (by the dry cleaner or left in a coat pocket from last year) goes to the fund. $2 dollar bills he receives in change go to the fund. Any foreign money left over from a trip lands there, too. A major boost to the fund was during the introduction of the new $10 and $20 bills. All old $10's and $20's he received would go to the fund. He laments that those are harder to come by now and hopes the government has plans to make more changes soon.

Give it to me: Robin picks out a work of art and then alerts friends and family members that it is all she wants for her birthday. Rather than one person buying the work outright, she has conditioned her gift-givers to send cash towards her art purchase. She always buys the art in the end, even if she doesn't collect all of the money needed. She feels that the gifts she receives, any money at all, helps offset the price like a nice discount.

What if you could register for art like you register for china and towels for a wedding? (Warning: this is a shameless plug! Read on at your own risk...) Well, now you can! Your wedding guests can help you beautify your walls just as easily as they help you beautify your dining table. In my book, this is the ultimate "budget" for art!

I'd love to learn about your creative budgeting techniques! Send me an email!

April Fools

A friend sent me this quote (Thanks, Ben!) from an old Simpsons episode where Homer was discovered as an "outsider" artist by a New York art dealer. It made me giggle. I had to share:

MR. BURNS: Smithers, I think I'm in love with this sculpture!

SMITHERS: Sir, that's by Homer Simpson; I don't think you want to buy it.

MR. BURNS: Smithers, years ago I blew the chance to buy Picasso's "Guernica" for a song. Luckily, that song was "White Christmas," and by hanging onto it I made billions. Anyway, I love this hideous thing. I'll take it!

ART DEALER: Congratulations, Homer. You're now a professional artist.

HOMER: Whoo hoo! Look, Marge, my first sale! In your face, Jasper Johns!

As an aside... Do you think Thomas Kincade whoo hoo'ed and told Jasper Johns where to put it upon learning of his first museum show? Ee gads! When anyone asks me to define bad art I always use Mr. Kincade's "Paintings of Light" as example. It's just my opinion. For other opinions (and a better explanation of all of this April foolery) check out art.blogging.la's and zeke's gallery's March 30 posts.