It appears that selling art work is more difficult today than ever before. An art dealer who normally negotiates private deals between sellers and buyers now reports that he has to buy the work to make it happen. Is this another sign of the effects of today’s economic crisis?
A New York art dealer reported purchasing art work directly and selling to buyers. The dealer then adds only a small additional fee to purchase price. This allows him to keep his doors open. The purchases themselves are great bargains. Two early Warhol’s were reported to be purchased this year at 50% of the market’s high. Sotheby’s and Christie’s have seen values drop significantly this year.
There seems to be a lot of interest in buying privately as opposed to big auction houses. Many buyers prefer to handle these transactions discreetly. Buying in a depressed market has its advantages. This sort of reminds me of earlier times before galleries and museums existed. Artists would have someone present their work in a private setting.
If you are a collector, now is the time to buy. Great deals are available if you know where to find them.
A New York art dealer reported purchasing art work directly and selling to buyers. The dealer then adds only a small additional fee to purchase price. This allows him to keep his doors open. The purchases themselves are great bargains. Two early Warhol’s were reported to be purchased this year at 50% of the market’s high. Sotheby’s and Christie’s have seen values drop significantly this year.
There seems to be a lot of interest in buying privately as opposed to big auction houses. Many buyers prefer to handle these transactions discreetly. Buying in a depressed market has its advantages. This sort of reminds me of earlier times before galleries and museums existed. Artists would have someone present their work in a private setting.
If you are a collector, now is the time to buy. Great deals are available if you know where to find them.
www.nellasbooksandcollectibles.ecrater.com
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