The videos from November
10th's
Gallery Walk feature (in
order)
Although the official
location of Art Basel
Miami Beach is
the Miami Beach
Convention Center, the
'party' is spread over a
much wider area.
From the 'CANDO' Art
District on Miami Beach,
which includes the Bass
Museum and Lincoln Road,
to the Miami Design
District and Wynwood Art
District and several
points in between.
This
edition of includes
two more articles in the on-going
'Art Investment' series.
The Art of the Ocean
Realm is an idea we're 'floating' for
2008.'
Essentially,
the gallery would be a showcase of
art with an underwater theme - painting,
statues and innovative design, such as that
of
Rogest
(right), who helped
the Ocean Realm Society
promote the first
State of
the Oceans Summit during the
DEMA Show
in Orlando on November
1st.
Additional water-oriented
artists can be found on the
Gallery of the Ocean Realm
page.
Speaking of
underwater art, get ready for something
completely different. The developer of the
world's only artificial reef with an
'artistic' theme - Neptune Reef - is about
to announce the opening of phase 1. More
than
2000 tons of concrete columns, arches and
statues - in
50-feet of water, about 5 miles southeast of
Miami Beach. Click the thumbnail to see more
detail in a photograph taken in July.
Art Basel Miami
Beach is less than 60 days away.
Gallery Walk in Miami is attracting a broad cross-section
of people. Now that summer is over, the
serious business of preparing for the most
important art show in the Americas has
begun. I will begin
producing video clips in a couple of
weeks for an online art channel. Each week,
we'll introduce you to the artists and
gallery owners in Miami.
If you'd like to
know when a new episode is posted, register
for updates.
Since several
gallery owners I know say the Gallery Walk
event is beginning to generate sales, I
thought a series of articles about art as an
investment would be appropriate.
Ken
English -
kenenglish@aol.com
Does Art
investing Cheapen the Craft?
There
are several schools of thought with
regard to art investing. A
capitalist will tell you that
America was founded on commerce and
that anything that can make money
should. On the other end of the
spectrum, art purists may denounce
the idea of paying for art at all.
They will argue that it demeans the
very integrity of art and puts a
price tag on something that should
be free to the world. The latter
opinion is probably not a popular
one among the artists.
Art investing is becoming more
mainstream as time goes by. With
this onset, many have begun to see
precious pieces of art as nothing
but multi-colored paychecks.
Ideally, art is a phenomenon of
human nature that should be enjoyed
by everyone that can see, hear or
feel it. Does this mean that you
cannot put a price tag on art?
Jackson Pollock and $104 million say
that you can. However, it seems that
there could be a middle-of-the-road
compromise where art investing and
art appreciation can coexist.
For centuries artists have been
revered after their time, and often
never while they are alive. Perhaps
the death of the artists makes a
piece more valuable in art investing
because you know that the artist
will never create again. It is also
possible that it simply takes
society that long to catch on to
genius. Either way you look at it,
money seems to play a backwards roll
in art and art investing. An artist
lives in poverty while the world
ignores his work, then pays millions
for it a century later.
Though it may outwardly appear as
though money has a negative effect
on art as a whole, there are
positive attributes that art
investing reflects. One very
constructive purpose of art
investing is the preservation of
great works of art throughout time.
Imagine that you just spent $11
million on a oil painting.
Regardless of who you are or where
you stand financially, you are going
to take very good care of a painting
you just spent that much money on.
Because of this, the artist will
live on in his work which you are
protecting from time and the
elements.
There are obvious negative
attributes to the idea of art
investing. Largely, art investing
takes place among the very wealthy,
which represent a small portion of
the population. Because great works
of art carry million-dollar price
tags, these are the only people that
will ever own them. Many of these
wealthy people demonstrate their
generosity by donating or loaning
their collections to museums or
galleries for exhibit. However,
there are others that see art
investing as a financial venture
only and keep their priceless works
of art locked in a safe for
protection. While this does indeed
protect the piece, it is also
robbing the artist of the very
purpose for which it was created, to
be seen by the masses.
Honestly there is no crime in art
investing. By purchasing great works
of art you can help preserve a piece
of history. However, before you make
your investment, it is important to
contemplate what you will do with
it, and where you stand in the art
and financial community. Do you see
art as a free expression of human
nature or a potential future profit?
Perhaps you are one of the rare few
that have the ability to see art
investing for what it is.
Investing...in...art. Many lose
sight of the art and see only the
investing. The key is a balanced
position where art and investing
meet and complement each other.
There is money to be made from art
investing, and there is nothing
wrong with that. However, it is
imperative to respect the art,
respect the artist, and allow your
investments to be seen and enjoyed
as the artist intended it to be.
Ensuring
Authentic Art Investing
Art
investing can by a difficult game, even
for the most experienced buyer. Before
you invest your life savings in a piece
you think might go up in value, why not
do a little leg work? For every success
story that comes from art investing,
there are a mass of failures. If you
have the means for daredevil investing
and get a rush out of potentially losing
thousands or millions of dollars, then
dive right in with both feet. For the
rest of us, art investing will be much
safer if you take a few steps to ensure
quality and authenticity of your
investments.
Many find that art investing is much
safer if business is done with one or
two dealers the investor knows a great
deal about. As with any business, a
simple background check with the better
business bureau can tell you if the
business has had any complaints against
it. Next, you should get recommendations
from others in the art investing
business. Museums and art auction houses
may be able to tell you those dealers
that have been in the business for a
while and have built a good reputation.
When you're associated with good art
dealers, they can make recommendations
and help you find the art investing
avenues that are right for your
portfolio.
Once you've decided with whom you will
conduct your art investing, it is also a
good idea to research the artists whose
work you may buy. While it may sound
morbid, it is often true that many
artists are more appreciated after they
are deceased. This is the case with
classics such as Monet, Van Gough, and
Picasso, none of whom were as famous in
their own lifetime as they are now. That
is not to say that your art investing
should exclude all currently living
artists! Simply be wary of those you
choose. An artist that is cutting-edge
or a real "up-and-comer" today may be
mass produced on every coffee mug and
credit card tomorrow.
Once you have pinpointed your dealer and
those artists you wish to include in
your art investing portfolio, research
the piece. You would never buy a house
that wasn't inspected, or a car that you
have not test driven. Why would you do
any art investing without knowing a
little about the work you're obtaining?
Finding out about where the piece came
from, how old it is, and the history
behind it can benefit you in the long
run. It is also a good idea to have it
appraised by an impartial third party to
make sure you're getting what you pay
for.
Art investing usually requires a large
amount of upfront capital. As with any
large purchase, it will pay off to make
sure that it has a paper trail behind
it. Certificates of authenticity,
written appraisals from known art
experts and original sales receipts from
previous owners will help ensure the
legitimacy of the piece. These can also
be a key selling point to help ensure a
return on your investment. If someone is
trying to sell you a painting whose
original owner and all documentation
were both mysteriously "lost in a fire",
chances are you'll be skeptical. You
should be, because your potential buyer
will feel the same way.
Spotting a copy or a fake piece may
often be difficult to the untrained eye,
and can be imperative to your art
investing portfolio. There are experts
available that will help to make sure
you are not getting cheated or scammed.
These people have gone to school and
studied artwork for years so that you
don't have to. These experts will almost
always come at a price, but for truly
safe art investing, it will prove to be
worth your while.
We would all like to think that anyone
into art investing does so for a love of
great art, but there are dishonest
people that will do anything for money.
By conducting a little of your own
research and getting outside input, you
can protect yourself from being cheated.
Art investing is not something that
should be taken lightly, so make sure
that your money isn't going to waste by
ensuring authenticity and accuracy any
piece you buy into. You owe it to
yourself and the art community to help
eliminate fakes and those who market
them.
