I have to tell you that the Art World intimidated me for many years. In fact it was the last area of the Antique business I attempted to master. So if you're a little hesitant to venture into the Art World done feel alone. However here is the good news the 31 Club is here to hold your hand and help you through these early stages of learning. I prefer American paintings but I don't rule out others if there is money to be made with them. In past blogs I have written about some of the paintings I have bought and sold but to day I will keep it to just you and how to make money.
One of my favorite sayings is that you shouldn't try to re-invent the wheel so I won't. I could write a book on Art and in fact I think I will God willing some day but for today I'm going to pass on the article that Cindy ask me to write last week for a news release. These are the steps that I follow in buying and selling paintings.
Make money in Fine Art with these five steps.
You have heard all the stories about fabulous paintings being found by the novice and all the money that was made when they sold but let me share something with you, someone had to know something. It might have been the person at the Gallery where they took it to get information or a visitor in their home but yes someone knew something.
What if I could tell you how finding a treasure could happen to you in five steps would you be interested? If your answer was yes then keep reading. I will outline the information that will allow you to qualify a painting and quickly decide if it is worth your while purchasing it.
Be sure you have the resources at your command to check out the artist on paintings you find. A great source is Davenport's Art Reference and Price Guide. It can be purchased used at Abebooks.com or Amazon and it doesn't have to be new because it is just the starting point. Next being a subscriber to one of the art sites or know someone that is will prove a tremendous advantage to you, here are three askart.com, artprice.com or artnet.com.
Now is the time to start your research. Check the Internet to obtain all the information available on the artist. Also check to see what his work is bringing to day and what auction house does the best selling his work. This could prove to increase your selling price by thousands of dollars.
Examine the painting to see that it hasn't been repaired. Using a good black light will show you old restorations. If there is damage even if it has been restored the value will be affected. Questions like is it on the original stretchers or has it been relined are very important. Does it have patches or is there paint that has been loosened are two other questions that will determine the final price.
Is this artist paintings going up or down in price over the last 10 years? This may help you determine your asking price. I like to compare each artist work with others in the market of comparable works and recognition in the art community.
I mentions previously but now I want to stress the importance of where you sell your painting. Like I mentioned before the auction house that has set the record for a painting should always be considered when you selling. Also most people don't know that commissions are negotiable and it would be wise to ask the house where you intend to sell your painting for a discount because of the quality of your painting. West coast paintings do best out West and East coast do best on the East coast and this should be remembered went shopping for an auction house.
If you follow this guide to selling your paintings I believe your success will be assured.
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