SOWPub Small Business Forums - Re: Investing in ART...how is it done? I could use help on my new discovery...

Hi Gordon,

Just a quick note. My cousin was actually in the African Art business a few years ago.

His paintings were also in $1000+(CAN) price range.

I believe he also had an association with David Suzuki but I'm not sure.

I will contact him tonight to provide some insights into the potential for this type of business.

I'll post back as soon as I get some info.

Duane

> Dear Group,

> During the day I am a Teacher/Mentor at a
> Community Technology Center. Recently a
> popular LOCAL artist came in to learn how to
> build a website. Using Mike McGroarty's
> video, he was able to build a site (soon to
> be uploaded) using Front Page.

> Now, through the grapevine, I learned this
> artist is about to have a
> "breakout"...and his work is going
> to become better known. I think it is going
> to happen because of someone of reknown (a
> local celebrity) is hot on his art.

> So, before Hollywood discovers him, and his
> prices go through the roof, I'd like to buy
> several pieces. To speculate.

> His art is, how do I say it?, a little
> "racy" for my tastes, and he does
> produce some very sensual work. Like I say,
> it wouldn't hang in MY living room, but some
> of it, like the one he has up for auction,
> might fit in my office. In fact, this is the
> one I'm going to bid on.

> Now I understand that most people buy art
> because they appreciate it, and like all
> collectibles, it has a certain meaning to
> them...but and I hope you don't think I'm
> crass about it, but honestly,

> to me it is CHATTEL. And I like to buy low
> and sell HIGH.

> Now I'm not experienced with art at all...I
> do know that once an artist is discovered,
> his work becomes really hot, and prices go
> through the roof. I am also familar with
> Dean DuVall and his method of getting up to
> 10,000.00 for one of his original paintings.
> Now that Dean has been discovered (by using
> his own unique method), several Hollywood
> art collectors are buying everything he
> produces.

> Just in case the same thing would happen
> with this local artist, I'd like to ride the
> wave and cash in.

> Here is his first auction, and I've seen
> this painting and it is gorgeous...and
> sensual without being too suggestive,
> although his art appears to fall into one of
> three catagories:

> 1) Afro-centric with strong Mother-Child
> themes.

> 2) Sensual without being erotic.

> 3) Semi-erotic sculptures, meaning there is
> nudity but not suggestively.

> The painting DEADLINE, which is the first
> one he has put up on auction is one I'd like
> to bid on.

> If there are any art specualators among us,
> or people who know about these things,
> please send me an email or you can post here
> too.

> I do know that people love to collect art,
> and that there is a huge
> "speculation" market for unknown
> and undiscovered artists.

> If this fellow hits the big time, I'd like
> to cash in, and enjoy his success too.

> Thanks for any hints or help on this.

> OH, one thing. His work sells here in Akron
> and it isn't dirt cheap. I see so many
> pieces being sold for just a couple of
> hundred dollars, he won't do that. He'd
> rather let it sit than to let it go under
> what he believes it should sell for. Is this
> good thinking? Or would he be better served
> by getting some of his stuff out of town and
> on display?

>
> http://page.auctions.shopping.yahoo.com/auction/64328783?aucview=0x31
> PS. And NOT that this is relevant to the
> art, but he is an African-American Artist
> and has a lot of work with African themes,
> especially African Women and their Children.
> I mention this because he would like to have
> the Black community recognize his work and
> they are a big part of his target market.
> HOWEVER, as an "undiscovered"
> artist, he still needs to pay the bills and
> eat once in awhile, and the only color he
> wants to see right now is GREEN, as in
> dollars.

> Also, does anyone have any experience with a
> Patron? Someone who subsidizes artists in
> the hope of them becoming big? Sort of like
> Angel investors in business.

> Thanks for all your help on this, I find the
> whole thing very interesting.