On buying artwork …..
The whole business of buying a picture is distinctly different to that of choosing furniture, curtains or any other aspect of decorating your home (or ‘interior design’ if that is where you are!)
Because there is an ever-present underlying belief that somehow that picture on the wall will, one day, be worth a fortune.
In the back of our minds is the tale of the cafe owner in the south of France who accepted pictures in payment for the tab of his regular client, Vincent van Gogh.
I suspect that there are probably quite a number of us artists who work at producing art with the same faint hope niggling away - one day this painting will be recognised for its true worth.
Even though we all know, when we are cold and business-like, that these hopes and beliefs are very improbable, millions of people still buy lottery tickets when they know the chances of winning are 14 million to one against.
There is a pleasure about holding that ticket until the draw is finished, hoping that maybe this will be my week, and that same pleasure can add to our enjoyment of an original painting that we have chosen.
This is clearly not true of the big department stores’ sections labelled “Art” where there are factory-produced prints of nice pictures being sold in between the curtains and the wallpaper. This stuff will have absolutely no value as soon as you take it out of the shop - but, to be fair, I grew up with Monet’s poppy fields on the wall - a valueless print, but still a good representation of a Monet.
We ‘spend’ money on carpets, furniture and curtains, but we ‘invest’ in art, and we probably spend a lot more on those other aspects than we invest in the art. But we buy a new car much more often than we change the artwork on the walls (some of us buy a new HOUSE more often than we change the artwork), so choosing wisely is important.
In one of my exhibitions, a lady came in and said she was looking to buy a large oil painting … I tried to remain calm and professional and suggested she take a look around. She did that, then returned to gaze at one, and called me over. We chatted about it, me trying hard not to be the second-hand car salesman, but she was a definite prospect, until….. “No, it won’t go with my carpet.”
It has taken me some time to come round to the realisation that she was right and that leads to Rule 1 in this Guide - the artwork on your walls has to fit with the look you are creating in the room.
Rule 2 is that you must enjoy looking at the piece. If it is going to be with you for years and years, you must gain pleasure from gazing at it.
From my point of view, of someone creating and selling art, this is the cold business rationale for why some art sells while some doesn’t.
But - as I say above, the art market is not cold and rational - there is the ‘lottery ticket’ idea which flows from fashion - some artists are ‘hot’.
There are thousands of people producing original art creating a market which offers original work of good quality covering every imaginable subject. The technical quality of most of that is excellent, and yet - some sells for £100, some for £10,000.
There is an enormous iceberg-shaped distribution graph, with thousands of us striving away at the bottom, selling work for whatever someone is willing to pay for it. At the other end, there are those whose every scribble is snapped up and auctioned for huge sums.
The middle zone of this distribution is busy and competitive, Curators and Gallerists use their skill to judge what will be hot and gamble their careers on choosing which artists, or which styles will sell next year.
There was a time in the past when I had to sit through many many meetings with investment analysts looking after vast sums of a pension scheme. Chatting to one of those, I sought advice on stock-picking for the ordinary citizen. His advice was simple, and I believe it relates just as much to choosing art. He said - “Use your own judgement. If you can see that a high street retailer is struggling while another is always busy and popular - you can see which to invest in.”
- And so - Rule 3 - Use you own judgement. Buy art that you like, that will give you pleasure.