THE COLLECTORS
COLLECTIONS - DOCUMENTATION.
" The Playground"
[tripych]
by Austin Niko Suarez
acrylic/inks/crayons on canvas
20ins x 35ins each panel
THE COLLECTORS
COLLECTIONS - DOCUMENTATION.
For
every new collector starting off there are many things to consider,
not just the painting or sculpture you wish to purchase.
A
lot of collections are built quite haphazardly, in the beginning they
just buy what they love and after a time discover that they are
building a collection that lacks definition and or direction and then
to discover one of the biggest challenges to a good collection are
these two aspects of collecting.
[a]
the documentation of the collection.
[b]
the future of the collection.
There
are many other aspects to a good collection that we will cover in the
weeks ahead, but first I want to cover these as I think they are
quite important for the new collector to start doing rather than
discovering twenty years down the track that it should have been done
from the very start.
[A]
DOCUMENTATION OF THE COLLECTION.
Not to be confused with the cataloging of the collection.
What makes a collection valuable,
besides the wonderful work of art, is the precise records kept on the
piece.
You must keep all receipts from the
sale with the purchase price. A lot of people do not want to reveal
how much they paid for a work of art but this clearly goes towards
the providence of the piece.
Also try and get the Title Card
from the gallery with the price on it and get the Gallery to date it
and sign the card on the back.
Get the Certificate of Authenticity
from the Gallery dated and signed.
If possible get a photo of the
artist with the piece. If that is not possible get a photo of
yourself and the Gallery owner or curator and then have it dated and
signed on the back.
Research
for catalogs, newspaper clippings or books to get more on the
artist and especially the work of art. Any photos of the piece that
you can find lends to the authenticity of the piece.
Every little piece of information
you can find on the piece is important.
Why is this so important?
Two reasons.
[1] If you come to sell the piece
in the future, you have water tight providence on the painting, from
the original purchase price including all the information you have
collected.
A lot of people are embarrassed
to say they bought it at a certain price and then to sell it for a
much higher price, but it is all part of the collecting process and
the original purchase
receipt and the title card, dated and signed all add to the value of
the piece when it comes to the resale.
[2] To
many collectors ignore getting as much information as possible on
each piece they buy, when they buy and later if its genuineness is called into
question?
They do not have the documents to back up the piece and then
have to pay a high price financially
to a living family member of
the artist to get it authenticated, when a little diligence at the
original time of purchase would give a better and more reliable
authenticity of the piece.
I know a collector who sits down
with the artist and interviews him about the piece he
purchases then gets it
printed out and the artist to sign and date it. If the artist is
passed away then
he gets the Gallery owner or curator from where he purchased it to
sit down and he interviews them about the
piece to get all the
information he can, then gets it printed out and gets them to sign
and date it.
This may seem a lot of work to do,
but when it comes to selling the piece in the future it becomes the
golden lining around the work, it confirms it genuineness without
question.
I cannot stress enough the
importance of keeping every bit of memorabilia all signed and dated
by the gallery and if possible the artist, receipts, title cards,
descriptions and new clippings and anything else you can find about
the artist and the work.
To much documentation is never
enough.
[B]
THE FUTURE OF MY COLLECTION....LEGACY.
Now I know nobody wants to talk
about their own demise but
collectors need to seriously consider the future of their collections
no matter how old they are. We all know of people who have been
struck down unexpectedly
but of coarse that will not happen to us?
A wise
collector is prepared, it
is the same as having a will so that you have some say as to what
happens with your collection.
It has happened
many times that the collector has kept everything about their
collecting secret even from the family and upon their demise the
family have no idea of what the collection is worth, thus exposing
them to unscrupulous opportunists. They
leave
no instructions on
how to sell the collection or how to maintain it.
So many collections after the
original collector has passed away are broken up and even destroyed
as no one knows the value or lack of value that is before them.
I have listed out a few musts.
[1] First
of all you must keep good records as
I have said in the beginning of this post and
up to date cataloging,
which I will address in a future post.
[2] There
must be instructions on how to dispose of the collection within your
records and also the names of trusted art galleries,
dealers or friends who
can advise on the sale of the collection.
These names and addresses, phone
numbers and emails must be updated each year.
[3] Also
the prices of each piece in the collection should be adjusted each
year according to gallery prices for similar work by the same artist
or on auction
results for the same artist. This will be a valuable guide for the
disposal of the collection.
[4] Finally make sure that a
trusted family member knows where all this information is kept so in
that unfortunate event, the collection is still in knowledgeable hands
and can be maintained or sold.
If there is no family member available or trusted friend then instruct your lawyers as to what you want.
I believe every collector has a
responsibility to maintain their collections to the best of their
ability. All this information
gathering and documentation
is so vital for a healthy growing collection and allows you to
consider how to intelligently
acquire new inquisitions or the disposal of work that no longer fits
with the direction of the collection.
I do hope that this post has been
of interest to you and helps you with your collection.
Good collecting always.
Mark E Shellshear.
Art Consultant.
mark@shellshearmedia.com
"HED KANDY"
Austin Niko Suarez
acrylic/ink on canvas
36ins x 48ins
