BEING AN EMPOWERED COLLECTOR

Collectors Collection,       BEING AN EMPOWERED COLLECTOR

                                                                 " Girl with a flower '

                                                                    Isabelo Tampinco

                                                                       cast marble

                                                                           26ins

                                          
Last post I talked about the need to be a wise, informed collector and research what you want to purchase, in this post I would like to talk about why it is very important that you shop around, ask questions and research what you want to collect.

“ CAVEAT EMPTOR “... Buyer beware.

A sculpture has come to the Gallery for sale, it was a very beautiful piece and made by a well known sculptor, who passed away many years ago. I do not want to name the Sculptor or the well known piece but I want to use this as an example of the collector needing to research and know about what they are about to buy.

I was at an auction earlier this year when this very same sculpture came up for sale, it was bid up to above PHP350,000 and was sold to some unknowing collector.

That same sculpture came be bought for less than PHP100,000 in our Gallery. 

What happened?

Who is at fault here?

The Auction House or the buyer?

Well not to create to much controversy for myself, I presume that the Auction House was instructed to put the reserve on it that they advertised and then it was put up for bidding and went to the selling price.

Maybe the Auction House should have done a little more due diligence to research the piece and find out how many were in existence and at what price they had previously sold at, then they could have advised the seller of the existence of other pieces and a more realistic price that they could have hoped for, but there job is to do as instructed by the seller and sell the piece for whatever it brings under the hammer.

That does not make it right.

What about the buyer of the piece?

The collector, do they have a responsibility?

When they previewed the piece before the auction was held, they should have researched the piece on the internet and taken the time to search out people who know of the work and if there are any other pieces like it in existence.

Once they knew they true value of the sculpture they could have let it be passed in and then negotiate with the owner of the piece later.

But there were other bidders?

 Yes, but still the knowledgeable collector would have known of the inflated price and stayed out of the auction knowing full well that the other bidders were not aware of the true value of the art work or of the other pieces still in existence.

Most of the cast marble pieces are part of a series and some are still in existence, though they are old it still amazes me how they can resurface and being a cast piece there is sure to be more than one.

It is not my intention to cast the blame at anyone but to say to our valued friends of the Gallery, if you are going to pay a lot of money for a piece of art, research the art, talk to people about it, those pro and those against. Go around to other galleries ask questions, you will find someone who knows something about the art work that you are considering.

Collecting art is a wonderful passion.

Mark Shellshear
Art Consultant.

                                                            " Girl with horn of grapes "

                                                                         F.R. Monti

                                                                   cast marble...  1938

                                                                              35ins

COLLECTORS COLLECTION, RESEARCH

COLLECTORS COLLECTION, RESEARCH

                                                                         'Moses"
                                                           Francesco Riccardo Monti
                                                                       Cast marble.

So far in this small series of blogs we have talked about buying your first painting and then becoming a collector.

Next I would like to talk about buying that expensive collectible piece you have always wanted and how to get the best deal that you can.

I must disclose first but I am sure you all know that I am the Gallery coordinator, so I do see things from a Gallery perspective.

I am also an artist so I do know what it is like also as an artist to deal with Galleries, the highs and the low lows.

Before you decide to buy that beautiful collectible that you so want, research the item. There is so much information on the internet and you will be surprised what you can find.

As a gallery we try and research all the major pieces, so we know the current value of the piece or if not the exact piece then another work done by the same artist at the same time period.

That can be a little misleading as not all works are the artists masterpieces, remember that, so it is wise to check out current prices of different pieces done by the same artist.

An example, we have a work by one artist done 20 years ago and it is worth more today than his current work. The reason being is that these older works are recognized as his signature work and as the years went on his newer work does have the same insight or creative instinct that he possessed in his earlier years, but this can work the other way as well, as I said check today’s price of the artist that you want to buy before you consider giving up your hard earned money.

Remember every Picasso with his signature on it is not worth $200 million.

Many people have paid to much for the work of living artists only to find that when they want to sell it, the market is not interested as the market sees it as overpriced.

                                                                 " Star Gazers "
                                                              Guillermo Tolentino
                                                                    Cast marble

This Art World is an up and down world and name is everything but fashion trumps all.

Today some artists are getting very big prices for very average work and in the years to come the buyers will find it very difficult to get their money back.

Do not buy what is in fashion as fashions change.

Do not buy what is being hyped up and heavily promoted by Auction Houses again it is fashion and people will get hurt.

Research what you want to buy, find out what the past years of sales have been like and the prices, remember every painting by any artist is not a masterpiece, do not be rushed into the sale.

I remember an art dealer said to me thirty years ago when I believed every painting I painted was a masterpiece and worthy of big prices and he looked at my work and said, “ You like most Artists do one good painting in every fifteen or twenty, do not take yourself so seriously, they are not all worth a lot of money, you should burn a couple of them.”

Harsh words I know but there is an essence of truth in what he said.

I look at lots of paintings by lots of Artists and I know that they are not all masterpieces, some should never have seen the light of day, do not be rushed into the sale.

I cannot say this enough, do not be rushed into the sale.

Do not let sales people or the urgency of an Auction rush you into buying, if you miss it then it was not meant to be.

I have people bring me paintings that they bought in the excitement and feeding frenzy of the auction and find they have spent to much for the painting and now they cannot even sell it for what they paid for it.

I say all of this just to caution you.

So, first of all and the number one reason for buying a painting and collecting,

You buy it because,You love it.

Research the painting, find out all you can about it.

Once you have an idea of the value of the painting, begin to search out the painting in the Galleries or Auction houses of your choice.

Set a budget and stick to it, especially at an auction.

At a Gallery check out the best price you can and never be afraid to work away, after all it is just a painting.

I love paintings and sculpture, it is my life and I want everyone who buys a work of art to go from the transaction happy and satisfied that they got a good deal.

If we are all happy with the outcome then the world is a nice place.

I want my collectors to love the work of Art that they have purchased and to want to live with it and it is my hope and desire that the painting or sculpture that they purchased will bring them lots of joy.

Collecting is a wonderful pursuit that can bring the collector much joy and happiness.

Happy collecting.

Mark E Shellshear
Art Consultant.

                                                                      "Dalagang bukid "

                                                                        Tom Raymundo

                                                                             Limestone.

Becoming an art collector.

COLLECTORS COLLECTION,
Becoming an art collector.

                                                           Still life by Greg Bolanos.
                                                            Pastel on paper on board.
                                                                 19.25 ins x 25.5 ins.
                                                                             

 Last week I wrote about buying your first painting and how to approach the purchase, this week I would like to discuss becoming a collector of fine art.

I was talking to Mr Robert Lane about this subject and we began to talk about those young people who have bought one painting and now would like to begin the journey of becoming a collector of fine art.

I asked Mr Lane how should one begin as a collector and what would I be look for in paintings?
He said, " Before buying any more paintings visit many Art Galleries and begin to form an appreciation of what you like and what you would be able to live with."
" Make sure you compare prices of similar works in different Galleries by similar artists. Get to know the Gallery staff and ask questions and inquire into the artists you like and learn as much as you can about them.
Listen very carefully to the answers that the Gallery personal give you and decide whether you are dealing with a sales person or an art appreciator.
How you feel about the gallery and the staff will impact heavily upon your decision to buy and to follow their advice.
All Galleries are not the same or for everyone, that is why it is good to go around and talk to Gallery personal before buying, get to know who you are dealing with and who you feel comfortable with."

I asked Mr Lane what kind of painting should you begin a collection with?
" Buy what you like, what appeals to your taste.
Follow the advice of the Gallery you trust but buy the paintings you like as you have to live with them not the Gallery personal."
He said, "Be eclectic and buy across the board, different styles, different artists, but always what you like and within your budget.
Buy what inspires you to think, it does not have to match your decor."

Should I set a budget for my purchases?
" It is very important when you are just starting out to set a budget limit and stay within that limit, it is very easy to let emotion and the romance of art carry you along and you end up buying paintings not within you art budget and that will maybe cause you to regret your purchases. Stay focused and buy to your budget."

Should I buy unknown artists or known established artists?
 Mr lane said," Established artist will be more expensive so I think start with unknown artists.
Watch the competition results, go to the shows see which young artists appeal to you, once you decide on what you like, buy a painting and begin to follow the artists career. As you get to know the artist so you will get a better understanding of their work."

Should I buy with investment in mind?
" Not necessarily, especially at the beginning, but art is surprising, you never can tell who will hit the big time and who can go quickly out of fashion.
Follow the artists you like and watch them grow and mature as you add more of their work to you growing collection."
Finally the best advice I can give is buy the paintings you love."

Writtern by,
Mark E Shellshear.
Art consultant

                                                                   Artist.. Rene Robles.
                                                                            untitled
                                                                         oil on canvas.
                                                                        48 ins x 48 ins.
                                                                               1998.