George F. Schultz – Daryle Lambert's Antiques and Collectibles Blog – Local is best

Joe Lee Parrish

Chicago

I always say that money is easiest to make if you're dealing in local items. This can include painting, art glass, pottery or almost anything else. When I was in Kentucky, I became a huge fan of the Kentucky artists from around the turn of the century. My favorite, as I am sure most of you know, is Patricia Prather Thum, but Harvey Joiner and Carl Brenner aren't slouches either. The reason that these artists appealed to me was that they were local, I liked what they painted and if I wished to sell them I had no trouble doing that and making a pretty penny at the same time. However, I no longer live in Kentucky, so my contacts are fewer there now and it is harder for me to compete with the local dealers, so I have changed my approach a little. If you find paintings by these artist however you know where to take them.

Now, I focus on Illinois artists and Chicago artists in particular. When I go to a garage or house sale, I often examine all the walls of the house before looking for other items. This is because if there happens to be any good art in the sale, it is often snapped up fairly quickly. Here is a tip. When you are at a sale, don't start telling the attendant at the sale all of what you know about the painting you are interested in. Why would you say that? If the seller thinks that you have just discovered a great piece, it will be very difficult to bargain on it. The research on paintings is often very limited by the companies or individuals who are conducting the sales. Since their knowledge may be limited on the art being offered, there may be a chance to purchase a piece at a bargain price. Ask them what they know about the painting and then thank them and ask if they would consider a lower price.

This just happened to me recently. I noticed a painting that really caught my eye and the person selling it said “Oh that is nothing”. Since I was at a private showing, I just kept walking. The artist was George F. Schulz, an Illinois artist of some renown. You can view his biography on the AskArt site. He doesn’t have the most valuable art that you will ever run across, but I can assure you that his pieces will sell easily in Illinois. Later I returned to the painting and it is now in my inventory and you will be seeing it soon.

The question that you must keep in front of you is “Yes I can buy it and the price is right, but how long will it take me to sell it?” If the answer is longer than 90 days, it has to be a super bargain because your goal should be to at least turn your inventory once every 90 days. If you can maintain that pattern, you will soon be looking for a larger bank to hold all your money.

Be sure that your knowledge is fairly complete on all the artists within 100 miles of your location, whether they are painters, glass craftsmen or potters, and you will be ahead of the pack.

Happy Hunting! 

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