Need Help With 1st Time Art Purchase
bt
> We are novice art buyers, who could use some advice on a 1st time art
> purchase.
>
> Our objective is to pick up a painting from the Southwest area, to go in
> our family room. When in Sedona this last week, we fell in love with an
> oil painting by Douglas Andrews at the Point of Sedona Gallery. The
> sales consultants said that the Gallery is exclusive representation for
> Mr. Andrews' paintings. He has been painting outdoor scenery for about
> 20 years. Seems to be quite talented. Listing for $6200. When I went to
> research the value of the painting, I could find no secondary market,
> art shows or other literature that referenced work from Andrews, based
> on library and internet research.
The brutal fact is that most artists do not have any significant secondary
market, and you should not assume that they will develop one, unless you
have good reason to believe that their work will prove historically
important (which usually is to say that it will influence other artists).
Auctions of work by contemporary artists--even those with impressive
pedigrees--often bring bids that are a small fraction of the original
gallery price.
I am not very familiar with "Southwest area" art, by which I assume you
mean the kind of work, especially painting, that fills the galleries in
Sedona, Taos and Santa Fe, so I can't comment on which, if any, of those
artists have proven durable in the secondary marketplace. (Georgia
O'Keefe, I suppose.)
My advice is twofold: continue your research by contacting other dealers
in this art, and--especially--specialists in this field that are not
trying to sell you something (at least not directly): museum curators,
authors of history books, experienced collectors and artists. Meeting or
corresponding with such people will be an enriching experience in itself,
with the side benefit of informing you about the realities of the market.
The second fold: you say you love the painting, and you want a painting in
your family room. Those may be good enough reasons to buy it. Think of
the cost as patronage: you are supporting the artist and the gallery, so
that this kind of art will continue. The ultimate value of the painting
may come more in the form of memories and associations it carries within
your family than as a financial investment.
In sum, I suggest you learn more about this art, take some time to compare
the work of Mr. Andrews to other artists, and if you still love that
painting, and can afford it, buy it.
(P.S. You should be able to negotiate a 10-15% discount from the asking
price, if Sedona galleries operate like those in NY and LA.)