Anyo knows anything about buying art (painting)?

[Joss]

Hi,

I’m currently thinking of buying a painting. This would not be an investment per se, but it is a major cash outlay for me – it will be the most expensive thing I ever bought outside of my car. I’d rather not lose my shirt on it.

I’ve never bought art before. I was wondering what I would need to know to not get completely hoodwinked. I’m buying directly from the artist, so the authenticity isn’t in question. The artist is a top 5 representant of a rather minor sub-genre, so I’m afraid there’s limited information to be found on his going rates. He is represented by 1 gallery that I know of, and they have several of his pieces available for sale, but the prices are not published on the site. I haven’t called them yet.

Are there good resources I could use to research past sales? Anything else I should consider doing? I have known of the artist for 20+ years but never met them before, and I haven’t seen the painting other than as an internet picture. Would it make sense for me to ask to fly to the artist’s and see the actual painting, or is that “not done”? Is the price typically negotiable?

Thanks!

Joss

 

[roughedges]

I can't offer too much advice but I have worked for several sculptors and, through them, met a good many artists. All of them that I have met would be more than happy to open their studios to just about any interested party but especially to a serious potential buyer. In my opinion, it would not be out of the ordinary for you to request just such a visit. Some artists are prima donnas though, so you never really know.


edited to add: I dislike galleries and have since my first interactions with them. Of course, not all can be judged by my experience, but I'd highly suggest dealing with the artist directly, if possible.

 

[akivory]

I have been involved in the art world for the last 28 years working as a sculptor. I sell almost exclusively through gallerys. The mark up is typically 100%. I have learned that a good gallery earns its commission. I am reluctant to sell to individuals that I do not know as I do not want to jeopardise my relationship with my gallerys. It does not hurt to ask. If you cannot travel to the artist he may have a return policy.

 

[TOCAN]

I have been working in the Art field and dealing with artists for more than 14 years, most artist are very willing to show you their work, and I do think you should see the painting first before you buy it, you may not like it once you see it, or you may even want it more? As for price, everything is negotiable in todays market, unless it is a Pacasso or something like that. I would first talk about money, and then go see the painting to see if you really like it, and if you do, you can take it home with you that day. See if the painting is a one off, meaning he or she only made one of them, not 1of100. That would make the painting more desirable if there is only one of them made, such as a really one off knife.... Never pay full price, good luck!

 

[moonwilson]

I am a professional artist, and heavily involved in the art market. Generally, ethical artists will not sell their work directly, especially if they have gallery representation. There are artists that sell out of their studios, but if they have a gallery, they do so at their own peril. If word gets out, their career is basically finished. I would definitely contact the gallery and work through them. Most galleries don't advertise their pricing online, but will be happy to discuss pricing with you over the phone. And most are willing to haggle a bit, with a 10-20% "discount" being pretty much standard.

Who is the artist, if you don't mind my asking? It is hard to say how to go about determining a fair price without knowing a bit more. There are a lot of factors at play in the art market, but I'd say I have a pretty fair grasp of what things are going for, at least in the contemporary market.

Many artists are willing to have studio visits, but they can be awkward for both yourself and the artist if you have never met them before, and are interested in a specific piece. It would be better to view the piece through the artist's gallery if at all possible. Also, buying valuable work through a gallery is the only way you are going to get a valid provenance, which is important for insurance purposes and if you ever intend to sell the piece. It would depend on how much the piece is, but I would prefer to buy work after having seen it in person. That said, I have bought work that I have only seen before online, and I have never been disappointed. Very rarely will a work look worse in person than it does online, usually, it looks better in person.

 

[Tim-Gabz]

Whooooooooowheeeeeeeeeeeeeeee! Make sure you really like it. It will be hanging in your home for a long time before it appreciates.

I have some lovely pieces from the artist's private gallery that was over the road to a post office I was building in Masvingo. My father loved her work and supported her some time before, and it is now worth some considerable amount. Considering my father died some 19years back and some paintings are dated 1978-1980. I am looking to flog some other artists and get some custom knives that will be easier to travel with. I can't sell her work, just too much of home, and country.