Daryle Lambert: To make money buy and sell Fine Art.

Painting by Tom Darro

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.

1. 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.

2. 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.

3. 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.

4. 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.

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

Fine Art & Antiques: An Answer to the Stock Market Roller Coaster

One day the stock market is up 150 points, the next it’s down over 200. Over and over again. Are you beginning to grow weary of this roller coaster market? You might even be thinking about exiting the market, where do you go?

The 31 Club’s answer to the roller coaster stock market is to invest some of your money in Antiques, Fine Art and Collectibles. When things are the bleakest for other markets, the Antique, Fine Art and Collectible markets shine.

In this troubled market, it still amazes me when people are able to buy items for a small amount of money and then resell them immediately for many, many times their purchase price. I encourage all who will listen to me to maximize their efforts by investing their money in inventory that can be turned quickly today. I believe we have reached the optimum time to accelerate our efforts to follow the guidelines set out in my book 31 Steps to Your Millions in Antiques and Collectibles. Regardless of what other markets are doing, we can still profit quite handsomely using the tangible items being bought and sold in a sizzling high end antique, fine art and collectible market like we have today, then following the strategy to grow funds presented in my book. There isn’t a better time to be trading in items that hold their value and appreciate in all types of economic situations.

“Make Hay While the Sun is Shining” is an old saying I take to heart. And, the auctions, estate sales and garage sale markets are in full bloom now, so are you spending the proper amount of time visiting them to fully take advantage of these conditions?

This is the time to encourage people you know to purchase quality Antiques and Paintings and offer your expertise in the field to assure them of investing properly. I was able to assist one of our members in purchasing several pieces of Lotton Glass a few months ago, and today, she could double her money if she wished to sell them. This is at a time when the stock market has lost 4000 points.

I simply love this business. One reason is because it helps insure us against financial setbacks. You carry home insurance, car insurance and life insurance but what kind of insurance can we have in the business? Yes, there is insurance against breakage or other forms of damage to our items, but that doesn’t insure that what we buy will make us profit. But there is a form of insurance we control that costs us nothing: The price you pay for your inventory. When there is a cloud of fear overhanging the financial condition of most people, you just offer less for the items you wish to purchase. Yes, the percentage of items that you buy may shrink, but you will have received insurance at the lower cost to assure your profitability on the items you sell.

An example of this might be that painting that you would have offered $500 for 6 months ago. Today your offer might be $350. Or that Tiffany vase that would’ve caught your attention at a price of $1000, might cause you to want to make that offer today at only $800. This is insurance that you control, and you receive it at no cost. You can’t beat that.

My time in the Smoky Mountains is quickly coming to an end, but I have to admit, I miss all your phone calls and emails. I want to get back to work so I can enjoy all those stories of your successes. I truly do feel that we are forming a community that has the core values I wrote about two days ago: God, Family and Country.

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Antiques & Collectibles Road Trip Means Fun and Profit

Going to my grandsons’ college graduation party in Kentucky this weekend won’t stop me from hitting all the antique malls or shops along the way. It might take me a little bit longer to get to the party, but I’ll sure have fun along the way. I’ll be making this trip alone, so stopping won’t be an issue brought up for vote. I love it! Wouldn’t it be something if I found a treasure even before I arrived in Kentucky?

Antiques Out of Place for the Region Can Prove to Be Very Well Priced.

So what will I be looking for? Something out of place, of course. Paintings are first on my list. Unless they are regional and from the area, paintings don’t do to well in this area of the country. Maybe I’ll find a California or New York Painting at a bargain price. Pottery? Well, the Mid-West is pottery heaven so I’m not pinning my hopes on a great piece of pottery. Political Memorabilia is a good possibility. Killary was just in Kentucky and I believe Bill Clinton was recently in my hometown, Owensboro.

Are you beginning to get the jest of how I think? This process will save you a lot of time once you've begun your trip.

I missed a great auction there last week, but I’ll be looking in on old friends to see how they’re doing. While I’m there, I’ll ask if they have anything I might buy from them that might do well in Chicago.

Cecil is the first person I hope to find because he always has some of he better things set back. I’ve been able to persuade him to let a few of them go to me, in the past. I’ll also be looking in my friend Owen’s “Spend-a-Buck“ Antique shop for some goodies.

In Kentucky, the expensive items seem to be more reasonably priced than what I’ve come to expect in Chicago. There seems to be an order to the way Antiques, Collectibles and Fine Art sell.

The Same Item in Different Regions of The Country Can Have Different Values

I used to set up at the O'Hare Antique Show with some of my friends, and it amazed me that the New York and European dealers would buy most of what I had brought to the show before the public had a chance to see it. I wondered how they could pay my prices and still think they had a bargain. But I learned that the same item can have a different value depending on where it’s being offered.

My friends, Doris & Mike, who sell a lot of vintage bakelite jewelry, have buyers from New York gobbling up their pieces, because they believe the prices are incredibly reasonable compared to the New York prices.

If you’ve read my book, you’ll remember the painting I drove all the way to Christies in New York to auction, because I’d get a better price for it in New York than in Chicago. The painting was estimated to bring three times as much in New York as it would in Chicago, and that’s exactly what happened. Primitives sell very well in New York, and as I was driving, I recall wishing I had some great primitives I could have brought with me. Had I had these items, I knew they wouldn’t be making the return trip with me.

Qualify Your Family Vacation or Trip as a Business Trip

Hunting for Antiques & Collectibles along the way to my grandsons’ party enables me to do business along the way, and is in essence, a business trip I can expense. Fun and Profit – the two greatest words I know besides the one I use to pray.

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Daryle Lambert Blog: Changing and Cycling Markets in Antiques, Collectibles and Fine Art

European Pottery - Early Amphora Stellmacher Teplitz Floral Pottery Vase. Priced at $450 through JustArtPottery.com

A few years back, if you paid too much for a good piece of Rookwood, Grueby, Newcomb or even Roseville pottery, all you had to do was wait a week or so and it would prove to have been a bargain. Noting the results showing at auctions, as well as on eBay, I think those times have changed. In fact after discussing this with a very good friend of mine in the business, he agreed. Good pottery will always be good, but as I checked some of my price guides I found that the pieces were bringing only 50% or less of what they did two years ago. The top spot in the market has gone into other areas such as Paintings, Folk Art (Decoys), Antique Guns and so many other items that today, are commanding record prices.

This isn't to discourage you from buying pottery but only a suggestion that before you do check current prices, and don't depend on the price guide. If you have become adjusted to the old prices on pottery, it may take a while for you to get accustomed to offering the lower prices, but after a while it will seem normal again. One reason for this market adjustment is that American Art Pottery has primarily been for the American Market, and as the economy has softened, so have the desire of collectors.

For some reason the Art Glass Market doesn't seem to have had this same result. I haven't noticed the same decline in glass as I have in pottery. But still keep your eyes open to see if this trend will begin in glass as well. Over the last forty years, I have seen this type of cycling in the marketplace. Twenty some years ago, you couldn't give paintings away, but today, they are setting records at every auction.

Years ago, in the basement of a home I was called to, were 500 or more pieces of Roseville pottery in all the valuable patterns. I did buy some of them, but if I wanted to, I could have filled my pickup for less than $1,000. At the peak of the Roseville market, I might have been able to reture on what that collection would have sold for, but today, that purchase might have been just an average day’s work.
It’s important to keep your eyes on the next great thing collectors are searching for. While many items have decreased over the last year, Lotton Glass, for example has more than doubled on the secondary market, and might just be getting started its rise.

Political Memorabilia is one collecting area that I’ve been sharing with you recently, and the next several years should be great area of focus. If you are a member of the 31 Club, (and if you’re not, why not?) you’ll notice that the same old standard items didn't make my “What's Hot List”. In fact, I’ll guess that there are even a few items on this list you’re not familiar with. . I do have a confession to make, however. I included Roseville on this list because I thought it might recover from the beating it’s taken over the last few years due to reproductions coming onto the market. I might have been a little early in my prediction.

You may want to widen your horizon and begin including Asian and European items in your search list. With the dollar so weak, it wouldn't hurt to court the overseas market as part of your plan. Remember, the plan is to buy right. To do this, staying current with the markets is of the upmost importance.

Don’t just follow the daily Blog. Join with like-minded 31 Club Members. Turbo charge your treasure hunting. Learn Inside the Industry Secrets. Learn to build a bank account to last a lifetime, buying and selling antiques, fine art, and collectibles. My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership. The book is also available on Amazon.com. If you buy the book on Amazon, then the membership is FREE.

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Daryle Lambert: When is the Right Time to Sell

Whenever you make a great buy, how much profit should you hold out for? No one can tell you the answer to that question on every purchase, but I can give you some suggestions.

It has been over a year since I started working with a person to sell two Andy Warhol prints: a Howdy Doody and a Witch. About that time it looked like they were pretty much sold, the party wanted to raise the asking price. Since they belonged to that person, they had every right to do it, but was it wise?

Let's examine the facts. When we first offered these, the bid price was $20,000 for the Howdy and $15,000 for the Witch. I suggested that we price them at $27,000 and $22,000. You see, the market was going up, and it wasn't time to sell them at the bid. It wasn't long before I got a call saying that the prices on the prints were going up more, and we should raise the price on them. Tell me something new. So we raised them to $28,500 for the one and $35,000 for the other. The Witch traded places with the Howdy, and surpassed it in price. This price increase in prints was caused by auction prices for some of Warhol's paintings, such as the Cars that sold for $71,000,000. This had very little to do with the prints, however, and I was sure that their prices would start to decline in a short period of time..

Thinking that the market was being artificially raised, my suggestion was to sell them at the next offer. That was when I received a call from California from a gentleman that offered almost $40,000 for the Witch, which I gleefully presented to the seller. Much to my surprise the selling party now wanted to raise the price to near $60,000 for the one and $45,000 for the other. I no longer represent the selling party on the prints, but today I found out that the prices were dropping and now approaching the initial price we started at.

There are at least two reasons why the choice not to sell made no sense. First they where prints, and prints are faddish. Their value, more than likely, wouldn'tt pass the test of time. Second, what could the seller have done with the money if the prints had been sold? That money might have doubled or tripled by now had it been invested in other items. The old saying in the stock market is "Bulls make money and Bears make money, but Pigs go broke." You always sell into a rising market, and the best time to buy is when everyone else says don't buy now because everything is going to zero.

The game we are playing is buy and sell, and we do this over and over again. We are not looking for appreciation, because in our plan anything we purchase should be worth several times what was paid at the time of purchase. This means our money is active, and the risk is almost nil.

Don't get caught up in the excitement of the market place and forget the purpose of our plan.

Don’t just follow the daily Blog. Join with like-minded 31 Club Members. Turbo charge your treasure hunting. Learn Inside the Industry Secrets. Learn to build a bank account to last a lifetime, buying and selling antiques, fine art, and collectibles. My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership. The book is also available on Amazon.com. If you buy the book on Amazon, then the membership is FREE.

Visit our Website, here.

Getting a Leg Up on the Competition at Auctions & Sales

Thank you all for your kind E-mails of condolence. Daryle had this Blog prepared before he left for Kentucky. Keep posted, because even under these circumstances, I know Daryle will keep blogging for you. -- Cindy

Knowledge is King and will enable you to spot the value of paintings, antiques and collectibles. Whether you are attending garage sales, estate sales, auction, participating in online auctions or paying a visit to someone's home to view their items, your ability to spot value will depend on your ever increasing knowledge about items you encounter.

The 31 Club's main function is to help you grow in your knowledge, so you will have the advantage over your competition. We do this in several ways. Our book, 31 Steps to Your Millions in Antiques & Collectibles is the core of our program, and an essential tool our members use. It serves as our springboard into working this market.

Second, our daily Blog serves as an educational component to our members. This daily Blog is currently open to public view and discusses various topics such as economic trends that shape the marketplace, what's currently in demand, what's fading out, as well as information on the various items one might focus their attention upon and how to identify them. It's jam packed full of negotiating techniques and how one might best operate in order to grow profits into lasting wealth.

Third, in order to grow in knowledge, study and research is essential. Anyone working in this business will find it necessary to begin a library of reference books and build it up over time. Having access and exposure to the information in these books will make all the difference in your level of success.

The books you will need as reference don't need to be new. They can be several years old because they will still give the information that is needed for whatever item you are researching. Online Bookstores that sell used books are a great way to accumulate a substantial library inexpensively. My partner, Cindy, recently purchased a copy of David Rago's American Art Pottery for about $7.50 on Abesbooks. David Rago operates Rago Arts and Auction Center, one of the country's top drawer Auction Houses for 20th Century Pottery, Furnishings, and Post-War and Contemporary Art. (And, by the way, it's an excellent place to further educate yourself by looking around.) Today, there's several of American Art Pottery books on Abe's, starting at $6.95 plus shipping.

Your Personal Library should contain these Basics:

Kovel's Price Guide 2008

Kovel's Dictionary of Marks: 1850-Present

Davenports Art Reference & Price Guide. (This will be one of the more expensive books, but an old one still does the job.)

These are just a few of the books you could start with. These books help tremendously. In fact, I received an E-mail from a member who saved herself from buying a fake at auction because she had a book:

"... I just returned from an auction. For the first time I took your
kit with me. There was a Nippon dish that I was going to bid on. When I
look it up in one of my books I found it was a fake. You just saved me the
price of the book and the kit. Thanks ever so much..."

With the information from these books, you'll start feeling like a wiz. You'll soon be upon your path to financial freedom when you combine this with our plan for accumulating a lifetime of funds with antiques, collectibles, and art.

I hate to keep repeating myself, but Knowledge IS King. You will be crowned when you combine that growing knowledge with action and the solid wealth building plan from the 31 Club.

The 31 Club uses a wealth building plan that can help you accumulate enough funds to last a lifetime, buying and selling antiques, collectibles, and fine art.

Join the 31 Club. Learn about Art, Antiques & Collectibles. Learn How to Invest in Art, Antiques & Collectibles and build lifetime wealth. The plan is in my book. When you join today, you'll receive my 220 page book, 31 Steps to Your Millions in Antiques & Collectibles, FREE, plus MENTORING from me whenever call me. Or, order 31 Steps to Your Millions in Antiques & Collectibles and your membership is FREE and you still get mentoring. Either way, you're in. I know it sounds crazy to get all this for about $20, but I assure you, I'm offering this. If you've read this far, why not hop aboard.

What Really Counts When Looking for Value in Fine Art Paintings?

I often see art work that might be several hundred years old but sells for under $2,500. Wouldn't something that old be worth so much more? So many of the older paintings are not signed, so unless you have provenance, meaning a record of ownership from the time it was painted, most likely the price for it will be rather meager.

For example, I bought a painting in Kansas City years ago and thought I was going to strike it really big on this one. It was a Madonna from the 16th century, and I was almost certain it had been painted by one of the great masters. Paying considerable money to have it authenticated, I found out it was probably from one of the masters studios, but not by the master himself. I had paid $2,500 for this painting and sold it for only $3,500 two years later. Needless to say, I was greatly disappointed, and I learned a valuable lesson I won't soon forget.

But, age is only one element in your search for value in paintings.

Subject matter is also an important element. Some subject matter is in more demand than others and is an important consideration The Kentucky artist, Harvey Joiner is an artist known for his landscapes, even though he painted portraits the first twenty years of his life and painted portraits of the first five Indiana Governors. So, it will most likely be this artist's landscapes that bring the best value. When I was able to pick up a portrait Joiner had painted at an unbelievable price, I was hoping it might bring as much as his landscapes, today. It was a rather large painting, and Joiner was quite masterful in his portraiture. Now if you looked at size and compared it to the selling prices of his landscapes, which are much smaller, you'd think it could possibly bring in $15,000 to $20,000. But it brought in $3,700. This piece was signed by a great artist, but not what the buyers were looking for that day, and maybe not any other day. But as a buy on my part, it still brought in over twelve times what I paid, so it certainly fit the criteria for having bought it in the first place.

Locating paintings by a listed artist who has sold at auction, is another component. Having sold at auction gives the public a comparison as far as pricing. If you find a painting that a person can't find any record of, your chances for getting top dollar for the painting are slim. Also, often living artists don't have enough of a body of work for many people to collect. This means that the number of paintings the artist has produced can have a bearing on his value. I often say that if you found the greatest painter in the world, but he only painted one painting, the odds are that the piece would never have any great monetary value. Services such as AskArt and ArtNet have auction prices available but are subscriber based. Members of our 31 Club looking at paintings and do not have subscriptions to these services, can call us for help. We'll explore the available information on these sites to help discover if you've found a listed artist, and what the particulars are about that artist, including current auction prices.

So where are we? First, being old can count if the painting is by a listed artist or you have provenance. Second, it should be a painting that is in the style people are looking for. If a painter is known for seascapes, then his landscapes are likely to bring less, as a general rule. Third, be sure that the artist has a formidable body of work so he or she can be collected.

Condition is the next issue to consider. Always check for repairs, whether they are in painting, tear repairs, perhaps a new stretcher, fake signatures (which can be detected under a black light), relining (putting a new canvas on the back of the original to give the old canvas integrity or hide repairs) and cleaning to the point that the actual painting is weak because so much of it has been removed from the surface.

Now you know why I took up buying and selling paintings much later in my career. There is so much to learn. So, I would say that while you are learning, become friends with people that are knowledgeable about paintings until you have the confidence in your own judgement. One of my largest purchases at the time, was taken to my friends at the Cincinnati Art Gallery to verify my opinion. Never hesitate to admit if there is something you don't know.

Cindy has asked that I write several blogs on paintings, so this will be the first in a series. Be sure to keep posted. She made this request because this is an area of high interest to her, as well as many others, and today, we are going on an adventure where she hopes to find a painting that could be her first real treasure. Please wish her the best. You see, I didn't say to wish her luck, because she has spent many hours now preparing herself to recognize a good quality piece if she sees it. You don't need luck when you have knowledge.
Discover how the 31 Club, together with our book, can be the tool that helps you begin building personal wealth using antiques, collectibles and fine art, rather than the conventional methods of using stock, bonds, and real estate investing. You won't find results like these through your bank or your stock broker! Find out more about joining our growing community of antique and art wealth builders here.

Read more about The Million Dollar Challenge 31 Club members are participating in, here.

If you haven't yet had a chance to see what we've got listed in the 31 Gallery & Marketplace, click on over and take a look. You might even find a real bargain. We've got many high quality items priced reasonably. If you have a high quality piece you'd like us to find a buyer for, why not consign your item to us. No high fees when you sell with us.

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Out of the Gate - Sky is the Limit!

Yahoo! The 31 Gang has broken out of the gate in the $1,000,000 Race.

Our enamel on copper painting, that was purchased for $35.00, just finished on eBay for $313.00. The Doulton figurine that was purchased for $65.00 finished at $80.79 and the music box didn't sell. Our $125.00 invested returned a net of $335.63 after fees, definitely more than double and completing our first step in the race. Plus, we still have the music box to sell later!

We will be listing the two Meissen figurines that we purchased for $340 on eBay, and hopefully, we will be making one or more steps on them. Patience and consistency will get us across the finish line, and I hope that there are a lot of you there with us.

Yesterday, I was able to purchase three miniature Lotton vases. But before I let the person off the phone, I asked if she had anything else that I might be interested in buying. Her response was, "I have several other Lotton pieces, and I would be glad to sell them to you whenever I can find them."

The lesson here is to never leave a person after a purchase without asking if they have other things to sell. They may have other pieces. If they do, you can buy them at a price that is acceptable to you. How do you know this? Because you were able to purchase the items from them already, at a prices that you could accept.

As you can see, The 31 Gang isn't making just one purchase to meet its goals, but multiple ones. In our first purchase, only one piece out of the three reached our goal, but the combination of their sales prices got us over the top. It is fine to put all your money in one item, but it isn't always necessary to do so for you to take the next step.

Now that the weather is changing, there may not be as many house sales and garage sales for you to attend, but there are still more places to search than you will ever be able to visit. Auctions, Consignment shops, antiue shops, shows, just to name a few. There will be newspaper ads to answer, ads in the for sale section of the Antique Trader, AntiqueWeek, Maine Antique Digest, and The Bee will provide happy hunting grounds for you all winter.

I want to thank each and every one of you for your concern and support as we work our way through the death of our friend.

Be sure to visit our web site for more information about how you can join the 31 Club and start your own race to your millions! Read more about it here!"The Guy in the Red Tie" --- Daryle Lambert

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