Thursday, February 19, 2009

Daryle Lambert: Make Money with the Average Man's Art

William Horton thanks to

It has always been exciting to see a Picasso or Warhol painting sell for hundreds of millions but do you really see yourself doing that? Probably not. But is there art that can be found reasonably and change your life financially? To that question I would have to say “yes”. So where do we start to find this undervalued art?

If you go to the 31 Club’s website [ ] you will find under the gallery a “sold” section. There you can see an Ida McAfee painting that sold for $2500. It was purchased on eBay for about $500, making the owner extremely happy. Here are a few other examples where the mid priced paintings have done well for me. I purchase a Harvey Joiner from an auction house when it didn't reach the reserve. I bought it after the auction for a little over $200. I thought if I took it back to where it was painted I should make a fair profit. This painting was sold in Evansville Indiana for $3500. I have to be honest, however, I thought that it might have reached $10 to $15 thousand. I hope you don't think of that as sour grapes. Then there was the William Gollings that I purchased in California for $12,000 and sold in Chicago for almost $30,000. No million dollar paintings there but I think you will agree that at that rate my money is compounding fairly quickly. I want to be sure that I also remind you of my friend, Jim, who bought a painting for $40 by Jessie Wilcox Smith and a few months later sold it in the same town for $22,000. I can't even figure that rate of return. Paintings from $500 to $10,000 should do very well in these markets, and as people liquidate their belongings to raise cash, your chances of buying bargains increases.

The middle of the art market in hard economic times may be the best place to spend your money for the greatest return. Sure there are the high end paintings that will still do well but if you have one of those and it doesn't sell, large amount of your capital will be tied up and, for all intents and purposes, you may be out of business. By spreading your money among several pieces, the chances are great that some will sell, your money will continue to turn and that all important bank account will grow.

Now let’s explore where these treasures may be found. I am sure you have read stories where expensive paintings have been discovered in re-sale and white elephant shops so these would be great places for you to explore. Also local auctions, where a painting might pop up that is not recognized as being by a listed artist, or one that doesn't appeal to the local crowd but in another location might draw greater attention. Watch your local newspapers for listings of art for sale and also the penny savers. I have saved the best for last. Here we go. Tell everyone you talk to about your interest in purchasing art work. Mouth to mouth advertising will always be the best advertising that you will ever receive.

Strike now while this iron is hot.

Check out the new Paintings and new items in our Gallery and Marketplace here.

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