Skate's Art Market Research Tracks Trends

As a lowly, newbie collector, I am fascinated by the workings of the upper echelon art world--particularly in light of the record-setting auction that took place at Christie’s that took place a few days ago. A selection of 66 postwar and contemporary artworks by well-known  artists (such as Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat) sold for a total of $495 million (Wow!).

One great source of information about how the top-level art market works is Skate’s Art Market Research. Established in 2004, the organization provides unbiased research to support art investment decisions. Skate’s goal is to develop information tools and services that can help shift the balance of power in the art investment world from intermediaries (such as dealers and auction houses) to art collectors, art investors and artists. Earlier this year, Skate’s published a two-part Annual Art Investment Report for 2012. Part 1 discussed the world’s top 5,000 most valuable artworks based on public auction prices. Part 2 addressed trends in the global “art industry,” which includes auction houses, dealerships, e-commerce platforms, art investment funds, art financial services, and publicly traded art industry companies.

Part 1: Top 5,000 Artworks

To understand trends in the premium segment of the art market, Skate’s evaluates year-to-year changes in the 5,000 most expensive art works that sell at auction worldwide. In December 2012, these top 5,000 artworks were worth $33.3 billion, up 9% from 2011.

The study also showed that fewer people are buying more expensive art and are focusing on established names.

According to the report, “While 2012 showed that buyers have devoted more substantial funds to art purchases, it also revealed that they have become more selective in terms of their choices. The overall number of top-value works selling has decreased, and buyers have been selecting artworks from a far smaller number of artists than they did in 2011. A clear illustration of this can be seen in the number of new artists appearing in the ranking; in 2012.” In 2012, only 38 new artists were represented among the top 5,000 artworks, compared to 81 in 2011.

Download the full report here:

Skate’s Annual Art Investment Review Part 1

Part 2: State of the Global Art Industry

In this report, Skate’s analysts conclude that art buyers are “the creative force behind the art industry and its operatives. It is buyers who are encouraging established players to expand overseas to tap markets where demand for art is growing. Buyers are pushing for the conversion of brick-and-mortar stores into online businesses that offer e-commerce solutions.”

Furthermore, they believe that the growing and increasingly diverse universe of art buyers “makes it literally impossible to create marketable art using old cliches of beauty, taste, and discovery of new ideas.”

The report points out that “Comtemporary art buyers are not only carefully selective when it comes to their art purchases, but they also requires high-level services to help them manage the works they acquire and abundant information to help them refine their ideas regarding art collecting.”

The report describes trends in auctions, events, and online sales, noting that the art trade is undergoing some major changes.

Overall, “Skate’s sees bright prospects for the art industry as entrepreneurs and innovators continue to tweak old models and invest in new business models to play on the increasing attractiveness of global arts to global consumers.”

Skate’s observes that the quest for new art collectors is making it difficult for many dealers to operate as local enterprises. Their analysts predict that “Those galleries that are undercapitalized, poor on risk management, and unable to grow their trade to meet the tastes of international buyers will eventually face a slow death. The successful gallery now must possess recurring access to third-party financing, the ability to operate internationally by attending multiple fairs and having points of presence in a few geographies, and a management team with a strong combination of artistic and commercial skills.”

But the report also acknowledges an influx of new faces to the art trade, including some who want to push “consumer-grade” art and serve as specialty retailers: “These developments may forever change the centuries-old tradition of art dealing based on selling to a privileged class.”

Download the full report here:

Skate’s Annual Art Investment Report, Part 2: State of the Global Art Industry

LINKS

Skate’s Art Investment Review

YouTube Channel: Skate’s Art Market Research

Three Good Sites for Learning about Art

If galleries and art fairs seem intimidating, increase your confidence by learning more about art and building virtual collections online. Studying art online has become easy and enjoyable, thanks to sites such as Artsy, Google Art Project, and Artspace.

“It’s easy to practice choosing art, when you are browsing online from the privacy of your own home,” says Fleur Allen, director of the Interactive Arts gallery.

Here are three good sites for learning more about art, artists, and art collecting.

Artsy and the Art Genome Project

Artsy is an online platform for discovering and collecting art. On the Artsy site, you can see  more than 30,000 artworks by more than 6,000 artists from leading galleries, museums, private collections, foundations, and artists’ estates. Artsy has partnered with 400+ galleries and 100+ museums and foundations.

To make it easy for collectors to find specific types of works online, Artsy initiated The Art Genome Project. Like an art-focused search engine, the Art Genome Project enables you to explore art by style, subject matter, medium, technique, or region.

For example, when you hit the term “collage,” you will see a definition for collage (“a two-dimensional work created from an assemblage of different materials”) and more than 1,200 examples of collages by various artists. Choose “sort by year” and you will see how collage styles have evolved from 1913 until the present.

The Art Genome Project can be used either for self-guided learning or to discover works for sale. More than 10,000 of the works on Artsy are available for sale, with prices ranging from under $1,000 to more than $1 million. You can use Artsy to contact the seller directly, or discuss questions about the work with an Artsy specialist.

The Artsy blog features easy-to-read posts about artists, their projects, and various exhibitions.

Google Art Project

Thanks to Google high-resolution imaging technologies and expertise from collection curators, you can study 30,000 works of art from over 150 collections in our 40 nations. You can examine works at brushstroke-level detail, take virtual tours of museums around the world, and build world-class virtual collections without spending a dime. 

Some of the art institutions you can “visit” online include: The Art Institute of Chicago, the Auckland Art Gallery, the Acropolis Museum, the George Eastman House, and Cooper-Hewitt National Design Museum, the Museum of Russian Icons, the J. Paul Getty Museum, the Hong Kong Museum of Art, the Israel Museum, the Museum of Modern Art (MoMA), the National Portrait Gallery, and the Tate Britain.

Expertly narrated videos, audio guides, and viewing notes make it easy for you to learn more about the paintings, drawings, sculptures, historic artifacts, and photographs in the museum collections.

Using Google’s online tools, you can create and share virtual art collections that would be impossible to match in real life.

Artspace: Art 101

Artspace is a digital marketplace for fine art and design. The site offers limited editions and original works from rising stars to the most recognized artists. For beginning collectors, they have a page of artworks starting at $100.

Part of the Artspace mission is “to help collectors and aspiring collectors discover, learn about and collect fine art.” In keeping with their role of online “art advisor,” they publish dozens of feature articles and interviews with artists, advisors, and collectors.

For example, their “Art 101” page contains a variety of useful features such as:

Everything You Need to Know about Art Fairs (But Were Afraid to Ask)

A Beginner’s Guide to Art Auctions

An Introduction to New Media Art

As you spend more time studying art online, you will become less anxious about asking “dumb” questions when you view art in person. Most experts agree that viewing art online can be fun, but it is no substitute for experiencing art in the size and form the artist intended.  

LINKS

Artsy

Google Art Project

You Tube: How to Use the Google Art Project Site

Artspace

Learn from Reflections of Renowned Collector

While it’s important to anticipate how technology might change the art market in the future, it is useful to learn how top collectors got started in the past.

On the National Gallery of Art’s website, you can read a fascinating personal essay (“Reminisces and Reflections on Collecting”) in which collector Raymond Horowitz explains how he and his wife Margaret got their start in the 1960s. Although Raymond and Margaret Horowitz are both now deceased, they are widely recognized for their superb collection of paintings, pastels, watercolors, and drawings created by American artists in the late nineteenth and early twentieth centuries. They were among the first collectors to dedicate themselves to American impressionism.

In the essay, Horowitz talked about why art collecting can be a life-enhancing experience. He reminds us that all collectors start somewhere, and it’s important to buy what you love, regardless of what others may think of your taste.

Raymond Horowitz said that although he always had an interest in art, he never set out to become a collector. In the late 1950s, a close friend who was a collector of nineteenth and twentieth century American representational painting gave him a French drawing as a birthday present. To reciprocate, he gave his friend an American drawing as a Christmas present.  As the gift exchange continued, Horowitz and his wife scouted galleries specializing in American art and read a lot on the subject. Having become immersed in the subject, they decided to buy some inexpensive works on paper in 1960. Horowitz called it “more of a lark than anything serious.”

Although they had not yet embraced the idea of becoming collectors, they continued to visit galleries regularly. One day in 1961, they bought a painting “that had immediate and irresistible appeal.”

By 1962, they had acquired more than 20 diverse works in various mediums: “It was only at that time, when we could be more analytical about our acquisitions that we came to the realization that we were greatly attracted to lyrical, representational, but non-academic painting; painting that expressed a definite sensibility ad certain moods and feelings – warmth, tenderness, intimacy, optimism.” They noticed that there was a certain cohesion and unity in their choices.

Although “American impressionism” is a commonly recognized today, Horowitz notes that there was very little interest in it when they started their collection. He said it was considered unfashionable: “In fact, we were ridiculed as ‘square’ by most of our chums who had an interest in art.” As collectors, they deliberately set out to find examples of turn-of-the-twentieth-century American paintings that looked less dismal than those they saw in many auction houses and art galleries.

When they decided to focus on their collection, the Horowitzes started taking collecting and the connoisseurship seriously: “We constantly talked to other collectors, art historians, museum curators, and dealers, trying to learn as much as possible. We traveled to museums, large and small, to look at works we had seen in reproduction, and we read everything that remotely bordered on our field.”

“The Horowitz Collection” first got public attention in 1966, when the curator of American art at the Metropolitan Museum agreed to briefly store some of their paintings while they were moving from one apartment to another. Another curator at the museum came across the paintings and asked to include some of them in the museum’s summer loan show.

 As Margaret and Ray Horowitz became more knowledgeable and focused collectors, they recognized some mistakes in their purchases. So they weeded out their collection through trades, donations, exchanges, and sales.

Continuous refinement is a part of the collecting process, said Horowitz, who likens a collection to a living organism: “If you stop collecting, the collection becomes a lifeless thing, merely decoration on the walls.”

For art lovers who might hesitate to narrow the focus of their collecting, Raymond Horowitz said: “The fact that one collects in a narrow field does not mean that one’s field of vision must be narrow. Indeed the opposite is true. The passion for discovery is heightened and concentrated, and the search to see behind the curtain becomes more intense. Collecting, looking, and reading become an adventure in innovation, in seeing things in new ways, and refreshing your ideas about life – and this is what art is all about.”

  

I encourage novice collectors to read the full essay on the National Gallery of Art website. Adapted from a talk Horowitz delivered at an art conference, the essay provides context for a lot of the advice you will read in educational publications for new collectors.

LINKS

Reminisces and Reflections on Collecting by Raymond Horowitz on The National Gallery of Art website

About The Margaret and Raymond Horowitz Collection

Gallery Owner Advises New Collectors to Buy the Best You Can Afford

Rebekah Jacob owns the Rebekah Jacob Gallery in Charleston, South Carolina. She represents an international group of emerging and established artists who create paintings, works on paper, photographs, and video. The gallery focuses on modern art and photography of the American South and offers appraisal services to individual and corporate collectors for resale, insurance, estate, bankruptcy, and equitable-distribution purposes.

Jacob works with numerous clients who are building collections around the Civil Rights Movement and/or the African American. She enjoys getting to know her clients well enough to help them choose art they will love.

Rebekah also actively encourages and supports new collectors, whether they are young art enthusiasts or people from around the world who are buying homes in Southern cities such as Charleston and New Orleans.

She says young collectors like the flexible price points of unique, high-quality photographs and other works on paper She believes photography is popular among new collectors because cameras and technology are such a big part of our lives. New collectors also tend to start with works on paper because they can afford to buy more than one piece.

When I asked her about the wisdom of “investing” in art, she said art can be viewed as an investment option, but only if collectors buy smartly, at fair market values, and are patient during the resale process once an official appraisal has been levied.

She points out that many high net-worth individuals have no intention of selling the art they buy. When they fall in love with certain pieces of art, they will either keep it in the family and/or gift it to a museum to make it accessible to art scholars and the public.

If you do want art that might appreciate over time, here are a few suggestions from Rebekah Jacob:

• Find a reputable dealer and work closely with him/her over time.
  
• Buy the best art work you can afford. Look at the artist’s credentials: publications, exhibitions, gallery representation, and collector base. The more dense the resume of the artist, often, the more solid the investment.
  
• Realize that fine art is not like gold or another currency. Art is not a commodity in which units can be liquidated quickly. You may have to wait months or even years to find a buyer.
  
• Keep in mind that art is susceptible to fashion. What may be “hot” today may not be as appealing next year.
  
• Allocate some of your budget for ongoing expenses related to displaying, preserving, and insuring the art. Stocks and bonds do not need maintenance, but art may require conservation framing, proper lighting and climate control, and specialized storage.
  
• Watch inflated markets and retail prices. Get a fair deal. Find a dealer qualified to appraise art.
  
• Be aware that buying and selling art can be expensive, especially if you buy too high. Some auction houses and dealers take as much as 30 percent commission, which can affect your resale value. When art trades hands often, it does not add to the financial value of the piece.

Jerry Siegel, Revival Tent, archival pigment print, 16 x 20 inches, signed and editioned

Just in time for the Spoleto Festival of the arts in Charleston May 24 to June 9, the Rebekah Jacob Gallery will present an exhibition entitled "Somewhere in the South: a Celebration of Southern Photographers."

The exhibition will run from May 21 to July 6, and feature works by Southern photographers such as William Christenberry, Jerry Siegel, Eliot Dudik, Kathleen Robbins, Richard Sexton, Anne Rowland, and Keliy Anderson-Staley.

Eliot Dudik, Carew Rice Painting, Road Ends in Water Series, archival pigment print, 24 x 19 inches

To give emerging artists some exposure, Jacob reserved five spots in the exhibition for works discovered through an open call for submissions of photography and video art.

LINKS

Rebekah Jacob Gallery 

Tips for Viewing a Painting

Everyone is qualified to appraise art. That was a key theme during a seminar for beginning art collectors presented by art consultant Doug Eisele of the Eisele Gallery of Fine Art in Cincinnati, Ohio. He pointed out that “You don’t need to be a musician to understand good music. And you don’t need to be an athlete to understand what’s required to perform in a game.”

Eisele urged beginning collectors to allow plenty of time to view and study the art: “Give each painting a few moments to do its thing. Some paintings are intriguing in very subtle ways that you may not notice the first time you look at them.”

Once you have gotten an overall look at the painting, he said “Don’t worry about figuring out what the artist was trying to say. Think more about what the art says to you.”

Eisele believes that art should appeal to your senses and grab your eye in some way: “That doesn’t mean it has to be beautiful, but it must grab your eye. A work might grab your eye through its subject matter, an interesting color, its combination of objects, its realistic appearance, or other factors. But a large part of the appeal of art is emotional. Some artists go out of their way to inspire strong reactions, ranging from awe and lust to anger and disgust.”

As you study a painting, think about:

•  What emotions do you feel in the presence of the painting?
• If your feelings are positive, why are they positive?
• What is it about the painting that makes you happy or upsets you?

“Take time to examine your emotions in the presence of the painting,” said Eisele. “In my mind, good art can be a matter of execution and skills, but great art touches the mind, heart, and soul of the viewer.” Whether you are looking at the painting for the first time or the hundredth time, it should stir your soul.

As you study more paintings over time, you will begin to recognize the different ways that artists use elements such as balance, composition, and light to move the viewer. You may also see how symbols are used to communicate ideas. The more paintings you study, the more you will be able to discern which ones seem better than others.

“There are no hard and fast rules about what makes a piece of art great, mediocre, or bad,” said Eisele. “At lot of great art was once considered immature and forgettable.”

He advised seminar attendees to “Buy art because you like it, understand it, and it will enhance your life in some way.”

The Eisele Gallery of Fine Art  specializes in original paintings by noted 18th, 19th and 20th century American and European artists as well as contemporary works by local and regional living artists.

LINKS

Eisele Gallery of Fine Art

Art Fair in San Diego Offers Collectors a Virtual Viewing Room

For my Creatives at Work blog, I am always on the lookout for news about new ways for artists to exhibit and sell their work. In the process, I often discover resources that can help educate collectors as well.

For example, last year I published a news item about the virtual viewing room being planned to extend the reach of a four-day contemporary art fair in San Diego. Since then, I contacted the fair’s director Ann Berchtold to ask a few follow-up questions about the fair’s resources for collectors.  I have published her responses below (after the introduction about the fair and viewing room).   

    

About the Fair and the Viewing Room

Founded in 2009, Art San Diego (ASD) is a four-day art fair that features San Diego’s most talented artists alongside the world’s leading contemporary art galleries. The event attracts both national and international attendees and was designed as a catalyst to promote the collecting of investment-grade art.

When the Art San Diego contemporary art fair returns to Balboa Park for its fifth edition November 7-10, 2013, it will offer a unique digital experience -- a virtual viewing room called ARTSD ONLINE.  Their partner in establishing this virtual viewing room is Collectrium, a company that is focused on revolutionizing the art world by creating a global platform for managing, discovering, sharing, and trading art and high-end collectibles.

Through the virtual viewing room, collectors will be able to browse works by over 60 ASD exhibitors and purchase directly from the dealers. The site will also include a list of resources for new collectors. 

“The fair provides not only a vibrant forum to purchase great works but also the opportunity to meet and forge relationships with gallery dealers and artists that match the sensibility of the collector,” explained Ann Berchtold, founder and director of Art San Diego. “This new online forum provides an ideal mechanism to maintain and continue to build on those relationships, and a vehicle to introduce new works throughout the year not previously shown.”

“Art San Diego attracts savvy collectors from around the world with art works from elite galleries and unparalleled creative programming. Now patrons will be able to access Art San Diego and its exhibiting galleries anytime, from anywhere in the world!" said Boris Pevzner, president and founder of Collectrium. "Having worked with Art San Diego to produce their iPhone and iPad apps, we are pleased to expand our partnership by introducing the new Art San Diego Virtual Viewing Room.”

The theme of Art San Diego 2013 is [COLLIDE].  Exhibits will explore various types of creative intersections (cross-disciplinary, cross-national, art and film, rural and urban) and how they manifest in both visual and social settings.

Questions for Ann Berchtold

What is your Collectors Resource Group? Is it an online advisory group? Or is it a group that holds face-to-face meetings?

AB: The Art San Diego Collector Resources Group (CRG) includes numerous art-service professionals who are able to assist collectors on questions about everything from insurance and appraisals to framing and shipping. We provide contact information through our website, and CRG members are at the Collector Concierge desk at the fair and at events such as our “Art Collectors Breakfast.” Each year, we produce a series of talks about collecting, and members of the CRG are included in those panel discussions.

In your news release, you say that Art San Diego acts as a catalyst “to encourage and promote the collecting of investment-grade art.” How do you define “investment-grade” art?

AB: We encourage the collecting of all art, but for “investment-grade” art we work to provide resources (such as the CRG) to those who are interested in collecting works for long-term financial benefit, or as part of an investment portfolio.

Experts would define “investment-grade” art as art that is authentic, with a proven provenance and history of exhibition. The artist should be well-known on an international level, with work that has been included in museums or important private collections. The work should have an established track record at auctions, and most importantly have a strong allure to the buyer.

I recently read an e-book by Brad Wajnman entitled: “Picture Perfect Profits: The Definitive Guide to Buying and Investing in Art.” He categorizes “art collectors” into three groups:

• art collectors place a higher value on the art itself, rather than the profit potential.
• art investors are willing to invest at least $10,000 in art that might appreciate over a long period of time (at least five to ten years).
• art speculators are like stock speculators and are intent on banking short-terms gains from selling art. 

Would you agree with these categories?

AB: I think that is a good, broad summary. I think very few people would elect to call themselves “art investors.” The art market is so speculative – it is never a sure thing at the lower price points. You have to either invest large amounts on “proven” masters –or love what you are buying in the hopes that everyone else will, too.

What types of collectors could benefit from the resources that will be posted in your Virtual Viewing Room?

AB: At Art San Diego, we create a forum for both buying art, and expanding your experience and education as a collector. The goal with Art SD Online is to continue this experience past the four-day physical life of the fair into a virtual world that continues year round.

The site will feature monthly exhibitions that include select works from our participating exhibitors. We will also include articles about collecting, and news about things that are happening in the art world. Hopefully, over time, this site will become an educational resource for new collectors and a resource for collectors who want to follow a particular gallery they may have met at the fair.

LINKS

Collectrium

ARTSD ONLINE

Collectors Resource Group

BOOK

Picture-Perfect Profits: The Definitive Guide to Buying and Investing in Art

A Fresh Take on Buying Art Photography

Peter Johnson is the long-time art collector who created the online photography gallery Captured Global (capturedglobal.com). For beginning to emerging collectors, Captured Global sells intelligent, culturally relevant, collectible work by acclaimed photographers working across all genres of photography.

As a gallery owner, Johnson is challenging the multiple size, multiple price, multiple edition model used by other sellers of fine photography. Each photograph is offered only in the size originally envisioned by the artist. And edition sizes are not limited in an attempt to arbitrarily create “value.”

For my recent article on art collecting, I asked Peter to tell me more about Captured Global.

Tell me more about Captured Global's approach to selling art photography.

PJ: Our goal is to create the "go to" portal for extraordinary photography at a great price, to inspire a new generation of collector, and to help propel the careers of our artists. We currently offer the work of photographers from around the world. Some show exclusively with us while others may have other work represented elsewhere. The size and price of each image we offer however, is exclusive. 

I dig deep to find intelligent and culturally relevant work worthy of private and public collections.

Captured Global: Simon Vahala, Tourists, Alhambra, Spain, 40 x 40 in. 

You'll find the work of young emerging photographers side by side with established masters whose work is found in private and public collections around the world including SFMOMA, The Getty Museum, the Scottish Museum and National Gallery in Prague among others. At Captured Global, the images, the artists and the story are our centerpiece and we deliver great value for nearly anyone's pocketbook.

Are you a photographer yourself?

PJ: Yes, I'm a photographer who aspires to the level of talent of those we represent!

Photographs are telling of our time and the vernacular in which our photographers interpret the world is incredibly rich, diverse, compelling and exciting.

One reason interest in art photography is so high is because it is the only art form created by millions of people every day. All around the world, people are capturing, manipulating and sharing images instantaneously.

Now that everyone is a photographer, our job is to advance the art of collecting by sharing the work of our artists in ways that are fresh, exciting and culturally relevant. 

What kind of feedback have you been getting from photographers and collectors since the site was launched?

PJ: Since our approach is a bit contrary to the status quo, it's been an enlightening conversation with both photographers and collectors.

For many artists, it's difficult to break into the gallery scene, so we present a very intriguing option to the typically higher priced, limited editions that galleries establish in an effort to create and control demand. For the one photographer picked up by a gallery, there are hundreds of others producing extraordinary, collectible images.

Do most photographers support open editions?

PJ: Yes, because they want as many people as possible to enjoy their work. And it's interesting, because as a collector, I have never thought "Oh, I love that piece because it's one of only five in the world." Let alone 50, 100, 250, 500, 1000 or even more, which some editions are! When you think about it, it shouldn't matter how many prints are in circulation, because you should be buying work because you love it and will enjoy it every day.

While limited editions were created as a means to establish urgency and "future value," the strategy only works if the edition sells out and returns as a resale on the secondary market. But take a look around at gallery sites on the web and you'll find limited editions all over the place, of images dating back 10, 20, 30 years - and they're still not sold out! 

In fact many famous photographers like Ansel Adams, Henri Cartier-Bresson and Julius Shulman offered images as open editions, many of which holding tremendous monetary value today. 

As a collector, would you be more motivated to buy a one-of-a-kind print?

PJ: Not necessarily. If it's a one of a kind that I love and can afford, then sure I would consider buying it. At Captured Global, we're all about getting as many images as possible into the hands of as many collectors as possible. It's a win-win for both artists and collectors. When you buy an open edition, you have no idea how many prints of that image are actually in circulation - it could be five or 5,000. But that should have have no bearing on "future value" because it's highly unlikely that prints priced between $50 and $1,500 are going to come onto the secondary market anyway, regardless of how many are out there.

What comes with the purchase of an open edition, potentially with many other collectors, is the knowledge that you're really helping an artist grow their business. 

And that's good. Volume sales at say $350 as an open edition is much more sensible than few, if any, sales at say $1,500 as a limited edition that may never sell out - a scenario that happens more often than a gallery may like to admit. This certainly doesn't help the artist.

That said, nothing replaces the relationship between artists working at the very highest levels and their top-tier galleries. They establish the benchmarks in the marketplace and cater to a clientele more inclined toward "investment" purchases.

Captured Global: Norbert Hayo, Charles Baudelaire, 20 x 24 inches

It is with great pleasure that we've been given the opportunity to work with such talented artists, whose belief in our unconventional approach to the value of photography as a collectible art form, has together, made us agents of change.on sizes are not limited in an attempt to arbitrarily create “value.”

What does the future hold for Captured Global?

PJ: While Captured Global is an online experience, so to is our commitment to bringing the Captured Live! experience to cities around the world, propelling the art of photography in a connected world. We will be integrating technology as a complement to viewing original photographs in person. 

As the world becomes more dependent on connectivity, we never want to lose site of the innate value of the printed image.

LINK

Captured Global

RELATED POST

Good Advice from a Long-Time Collector

The Art Market Is Being Transformed

Technology is changing how art is bought, sold, and valued. Just as the Internet has transformed the publishing, music, and retailing businesses, it is changing the art market as well.

The Internet is giving people around the world easy access to a growing volume and diversity of affordable, contemporary art.  Because a massive, global audience can now engage in collecting, some long-established “rules” of the art world are being reconsidered. For example, here are just a few of the ways the art market is being democratized.

Online galleries and “virtual” art fairs have grown in acceptance now that people feel comfortable buying almost everything online. Selling art online frees gallery owners and art fair organizers from the limitations of geographical boundaries, retail display space, and operating hours. Today sellers of art can represent more artists and market their work to potential buyers year round.

Growing economies in China, Russia, Brazil, and India have created a broader pool of collectors with the affluence to buy art. Collectors who can’t spare the time to repeatedly visit galleries in New York or London have made the Internet an acceptable method of searching for artists to collect.

The art world has become more inclusive, welcoming artists from new geographic, social classes, and cultural territories. Artists don’t have to live in a big city or an industrialized nation to get exposure for their work.

The Internet and online galleries are providing more transparency in pricing. The Internet has also made it much easier for art lovers to educate themselves about genres, artists, and what an artist’s sales record.    

The sheer volume of available work is making a lot of art more affordable. People such as retiring Baby Boomers and under-employed college graduates have the time, desire, and tools to express themselves artistically. Many talented people who never expected to build full-time art careers are thrilled to simply earn some income from their art.

Many galleries and art fairs have become more welcoming to new collectors, with special events and activities geared toward art education and networking with artists. There is an expectation that over time, many new collectors will become art connoisseurs.

The Affordable Art Fair offers a welcoming environrment to learn about art. 

Entrepreneurs and technology firms have started to “re-imagine” ways for art to be displayed, bought, and sold. For example, instead of buying art, you can choose to purchase art on a subscription basis. Or you can buy art in digital forms to display on your high-resolution monitors in your home or office. These types of business models let you change out of the art in your home, without investing a lot of money in acquiring, storing and preserving a big collection of art.

Social media has made it possible for artists to interact directly with their collectors. This wasn’t possible when artists relied exclusively on galleries to sell their work. The ease with which artists can sell directly to buyers is causing some turbulence in the traditional artist-gallery-buyer business model, particularly when it comes to how art is priced and how an artist’s work has traditionally increased in value over time. Still, many people like buying art from people they know, and social media is making it possible for more people to "know" artists.

Can you think of any other ways that the art market is being transformed? If so, I would love to hear from you!

TurningArt Memberships Offer No-RIsk Way to Find Art You Love

With so much art to choose from, it can be really difficult to commit to buying that single perfect piece to display in a prominent space in your home or office. The art enthusiasts who founded TurningArt understand that dilemma. So they came up with a fun, affordable, risk-free way for newcomers to art collecting to discover, experience, and buy art from talented artists across the country.  

As a Turning Art member, you can display a rotating selection of museum-quality prints in your home or office. For just $10 a month, you can choose to display a different art print as often as you like.  For every dollar you spend on your TurningArt membership, you will bank an Art Credit that can be used to purchase the print or the original of any art that you like to keep. 

Until you feel ready to buy art for permanent display or to start a collection, you can fill a blank wall with works of different types, genres, and artists.

TurningArt offers thousands of pieces from hundreds of independent artists, with new works added daily.  Every piece you bring into your home earns money for the artist. As a TurningArt member, you can give your favorite artists the exposure they deserve, and help them find new audiences.

If you fall in love with a specific piece of work, you can use your TurningArt Art Credits to purchase the print from TurningArt or buy the original from the artist.

For original works, your Art Credits can be used for up to 50 percent of the price that the artist has set. (The originals typically are priced between $300 and $5,000.)

Prints are available in two sizes. The 16 x 20 inch prints sells for $65 unframed, and $140 framed. The 24 x 30-inch prints cost $105 unframed and $260 framed. A 6- or 12-month TurningArt membership provides enough ArtCredits to buy an unframed print.

The Story Behind TurningArt

TurningArt was started by Jason Gracilieri, an art lover in Boston who was finding it difficult to fill an empty wall in his home: “I was trying to find something that I really loved. Something that had meaning for me and just fit perfectly. While I searched in the little free time that I had, that empty wall stayed empty for a very long time. I thought there had to be a better way.”

How It Works

When you sign up for a membership, your first print will arrive framed and ready-to-hang. Each piece is printed on a high-quality material that displays rich, vibrant colors, captures subtle detail, and remains crinkle-free. The black frame is made of a natural, recycled material that won’t warp or dent. When you want to return your first piece, and exchange it for something new, shipping is always free.

Gift Service

Although art can be a welcome gift, choosing the right piece can be a challenge. So, TurningArt offers three types of gift memberships: 3 months ($30), 6 months ($60), and 12 months ($120).  The TurningArt membership can be particularly well-suited for wedding gifts.

"Couples starting out may not have the money or the inclination to purchase art, especially if they're renting or haven't developed their personal style as a couple," said Gracilieri. "Gifting a TurningArt membership will help create that special home environment, and allow them to discover the art they love."

Gift-givers can select the first print or email the recipient a TurningArt gift notification with instructions on how to select their first piece.

LINKS

TurningArt

Good Advice from a Long-Time Collector

Peter Johnson is a long-time art collector who created the online photography gallery Captured Global (capturedglobal.com). For beginning to emerging collectors, Captured Global sells intelligent, culturally relevant, collectible work by acclaimed photographers.

Captured Global: Michael Hall, Untitled, 30 x 40 in.

In another post ("A Fresh Take on Buying Art Photography"), Johnson explains why he is challenging the multiple size, multiple price, multiple edition model used by other sellers of fine photography. Primarily, it's because he believes that art is about the expression of ideas, not a component in an investment portfolio.“We believe that true value is created by the singular power of the piece and what it means to you.”

Below are some details about his background as a collector and advice for beginning collectors.

What type of art do you collect? 

PJ: We have quite an eclectic collection - from the Taos Modernists to graffiti artists - works on paper, paintings, photography and sculpture

Do you remember the first piece of original art you bought? 

PJ: I do - Evangelina by R.C. Gorman - which we still have.

How has art collecting changed over the past 30 years? Over the past 10 years? 

PJ: Collecting is an entirely personal experience. Whether you're buying direct from the artist, through a gallery, or online, you should approach the process with the same level of passion. Buy what you like, trust your instincts, and love what you own every day.

The Internet has changed the game, making great art more accessible to more and more collectors who are placing their trust in online galleries and the secure purchase process.

How do you envision art collecting changing over the next five years?

PJ: Art is becoming more integrated with an interconnected world.

Interest in photography will continue to be high because it is the only art form created by millions of people every day. All around the world, people are capturing, manipulating and sharing images instantaneously. Now that everyone is a photographer, our job is to advance the art of collecting by sharing the work of our artists in ways that are fresh, exciting and culturally relevant.

While Captured Global is an online experience, so to is our commitment to bringing the Captured Live! experience to cities around the world, propelling the art of photography in a connected world. We will be integrating technology as a complement to viewing original photographs in person.

As the world becomes more dependent on connectivity, we never want to lose site of the innate value of the printed image.

Is there a point at which new collectors should stop collecting for fun and be more deliberate in acquiring works that might increase in value?

PJ: Collecting should always be fun. It's an exciting, personal and very rewarding journey. But I don't think one becomes more deliberate, rather more informed.

The more you develop an eye for great work, the more sophisticated your collection becomes. Over time, the work you collect will naturally evolve to include more "important" work that may see stronger appreciation over time. But the personal value of collecting should not be confused with the potential monetary value of collecting.

Other than "buy what you love," what other piece of advice would you give to someone looking to buy his or her first piece of original art? 

PJ: Ask questions. Get to know the medium in which you're interested. Visit galleries and bookstores, make studio visits and talk to artists and collectors. Across all creative arts, a fine line exists between good and great —decorative and collectible if you will. You want to develop an eye for defining that line.

What is the biggest mistake novice collectors make when starting a collection? 

PJ: Buying "decorative" work or approaching the process from a "by size," "by price," "by color," "by theme," or any other "by" prompt.

You're not shopping, you're collecting! When you find something you that resonates with you and you can work it into your budget, then buy it.

At Captured Global, we don't sell work in five different sizes at five different prices in five different editions. When the true essence of a 16 x 20-inch photograph is offered as an 8 x 10 inch print to fit someone's budget for example, then the integrity of the image has been compromised.

If you're going to collect, collect with conviction. Take it seriously and enjoy the process.

LINK

Captured Global

RELATED POST

A Fresh Take on Buying Art Photography

Interview with Founder of 5 Pieces Gallery

5piecesgallery.com is an online art gallery that offers original contemporary artworks and small editions from young, established artists and leading art galleries from around the world. Collectors can choose from paintings, drawings, mixed-media works, prints, and photographs priced from $50 to $20,000.

Currently  the site offers more than 1,000 original artworks and 400 small print editions from more than 134 artists in more than 38 countries.

Most artists on 5 Pieces Gallery are under 40, but have already had exhibitions at well-known museums and galleries such as the MoMA, PS1, ICP, MOCA, CO2, and the Saatchi Gallery. Some artists in 5 Pieces Gallery have been featured in the ABSOLUT Blank series, an art project that collaborated with artists such as Andy Warhol, Keith Haring and Damien Hirst in their early days.

Entrepreneur and collector Dennis Ammann of Bern, Switzerland, founded 5 Pieces Gallery in January, 2011 because he felt an online gallery could unite artists and collectors around the globe. He noticed that many art buyers were emerging from Asia, Russia, and the Middle East at a time when some renowned contemporary artists were from regions that the art market has overlooked for decades.

5 Pieces Gallery. By Kevin A. Rausch, "Walk On," mixed-media paper on wood, 40 x 30 cm, 2012

Ammann wants the gallery to be a place where art collectors can find the “next big thing,” but also be affordable enough to encourage a new generation of collectors. Most of the artwork can be purchased securely online with a PayPal account or credit card and safely delivered to more than 40 countries. Collectors can keep up to date with new releases and happenings by subscribing to the 5 Pieces Gallery newsletter and RSS feeds or following the gallery on Facebook, Twitter and YouTube.

In this interview, Dennis Ammann explains how the Internet is changing the art market, creating a new breed of collector, and empowering artists and collectors alike.

How has the Internet changed the art market?

DA: The Internet has been a facilitator in creating an art scene that acts and appeals globally. It has opened doors for thousands of potential art enthusiasts and promoted more transparency in pricing. For the first time in history, a mass audience can engage in collecting.

People who previously have never felt comfortable walking into an art gallery and asking about art, now have no problem doing so because they can do it online.

The Internet definitely creates a new kind of art collector. It all feels less elitist now and people are buying what they like, not what they are told to like.

I think the Internet has also been an amazing tool and catalyst in the development and communication of contemporary art. The speed of creative exchange and conversation is very radical. Because I think art should be about debate and discussion, I find this to be a very good thing.

Plus, the Internet has given emerging artists a shot at building an audience and consumers a chance to buy quality art at a reasonable price. Name Banksy, an artist who spotted the democratic and commercial potential of the Internet, has priced his canvases for $600 online, but ended up selling them for more than $1.8 million USD at auctions.

For galleries, it is becoming increasingly necessary to be accessible online. The Internet has broken down borders, allowing easy communication with people all around the world. The Internet gives gallery owners access to a wider group of artists and clients. Some days we have more than 3000 visitors, which is much more than we could expect in a static space.

One important aspect of the Internet is that it promotes transparency in pricing. It makes collectors feel safer about acquiring pieces. Through the Internet, there are so many artists we all look at, but just a few who earn big money. With some of these artists, though, the high prices are not accurately representative of their work. It is really up to the next generation to decide what is still relevant in the future.

The most important aspect is that art can now be accessible and not elitist. This speaks to me because I try not to get caught up with status, rank, and categorization.

How is your gallery responding to changes in the art market?

DA: In a world in which the people either do not have the money to go to commercial galleries in New York or London, and or the time to search for artists to collect, it is our aim to take the guesswork our of collecting, and offer easy access to the backrooms of the galleries of this world.

Due to the Internet, the contemporary art scene is on steroids. Everything is happening faster, especially when it comes to prices. The prices for some artists’ works are rising at unprecedented rates. As a result, works by younger artists are being considered  by more established art collectors.

On the other hand, the art we are showing has enormous crossover potential with young collectors. Many of today’s collectors of contemporary art are looking for artists and works that speak to their generation. So, the affordable prices allow us to cultivate a younger collector base as well.

Without the Internet, it would have not been possible to establish our gallery so quickly as an international meeting place for artists and collectors. We already have  happy clients in more than 50 countries around the world.

On your website, you say 5 Pieces Gallery is empowering artists and collectors. How are you empowering collectors?

DA: By showing nearly all the prices on the website, we approach the process of purchasing art in a way that makes it as easy and transparent as possible for everyone. Our goal is to offer fair prices while still respecting the value of the quality in the artwork. We can offer outstanding prices on high quality art because we make great efforts to reduce our fixed costs.

How are you empowering artists?

DA: Our relationship with the artists is very unique. Being an artist is a very hard job- there is no security in an artist’s life, especially in that of a young one. So, we try to promote our artists to the best of our ability. We want to see artists grow, give them faith, and provide them with an opportunity to expand. We feel strongly about giving back as much as possible and lending support to younger artists. For this reason, we send our artists much more than the usual 50-50 split in the case of a sale.

It means a lot to our audience that the artists benefit directly from any purchase. Because our clients more directly support the artist, they become patrons. Through our social-media channels, such as a special Twitter list and YouTube channel, clients can take a look into the vibrant lives of our artists at any time. Our artists are so accessible that you can become a part of their lives and feel that you play a role in their success.

5 Pieces Gallery: By Matko Vekic, "The Inner Place," oil and varnish on canvas,  200 x 160 cm

What else makes your gallery unique?

DA: First of all, we are very global in our outlook. It is important to us to support young contemporary artists from all corners of the world to show different perspectives on life and society, and provide diversity in content, comment, and style.

The gallery has a strong desire to challenge the viewers, social norms, and our own values and beliefs. So, it is not only about technique, beauty, or understanding of light and figure. It is more about how well the art mirrors our society. Artists from a variety of countries and culture join our group and give life a greater meaning in this context, and together create a visual opera of our time: pure passion, edge, and undeniable beauty. This all comes together on our site, yet we still distinguish the creative process of each artist. It is a really enriching experience to visit our website and group shows.

What steps to do take to educate novice collectors? 

DA: At 5 Pieces Gallery, our mission is to help every client discover, learn about, and collect the most exciting works of art available. It is important to us to show the client from the beginning how honestly we work and how much we have to offer. Thus, we are supportive rather than prescriptive in our approach.

Because most of our clients do not have time to waste, it is important for us to provide them with all the information they need as quickly and professionally as possible.

Also, to showcase the very best artistic talent the world has to offer, we work with art curators and experts around the world who have a lifetime of experience.Together, we put a lot of effort and time into the search for new talent. We hand select every artwork with the utmost care to ensure that every collector can find the best contemporary art available at affordable prices. Novice collectors can be confident that they are getting a good deal when they buy from us.

Are most of your clients experienced collectors, or new collectors?

DA: Our clients range from some of the strongest collectors in the world who are building very powerful collections for museums and foundations, to some of the poorest. All in all, I would say that it’s about a 50-50 split between more experienced collectors and new collectors.

Do your clients buy purely for the pleasure of owning original art that they love, or are they buying art as an investment?

DA: Collecting is a very personal experience for everyone. What is most important is that you find artists whose work speaks to you in a unique way. We only represent the artwork of artists who have the potential to become household names and are worth every dollar you spend.

Even though the value for the works of most 5 Pieces Gallery artists generally do increase as their careers advance and as there is more demand for their work, we hope our collectors purchase art at 5 Pieces Gallery as a personal investment—because it moves them on an aesthetic, emotional, and intellectual level.

Although many of our collectors enjoy purchasing art as an investment, we advocate buying art primarly for the enjoyment you get from the work. After that, the investment potential becomes incidental and merely a potential bonus to your overall enjoyment of the work.

What criteria do you look for when choosing which artists to feature?

DA: First and foremost, the artist and the work itself must appeal to us personally. We look for artists who are unique in their approach.

I believe that if young artists are consistent with their work and ideas, and if greatness, passion, and endurance are there, then the work will take its proper place no matter what type of art it is.

Important artworks are most often an individual’s uncompromising vision. They’re often found to be different and radical or are misunderstood at the time, only to be recognized later as having something valuable to offer.

So overall we are looking for artists who have a solid vision and original style. You’ll find emerging and established names on our roster, but all of our artists have a thread and synergy that run through their work. It’s the energy and life in the work we look for.

Good art stands out on its own merits. We like to believe that this still reigns supreme. We ignore and avoid the hype. We judge the work with our eyes and hearts and not our ears.

At the end of the day, we do not care about trends in the market. We believe that popularity should not be confused with importance. We would offer the same pieces whether they sold or not. Fortunately, though, there are a lot of people out there who like the same stuff we like. It is great to go with your gut instinct and go with something because you love it.

Do clients have any hesitation about buying an original work from an online gallery? 

DA: We haven’t yet had a client who was hesitant about buy original art online. We are a trusted source in the business and have built a good reputation. Anything ordered from us arrives quickly and safely.

Customer care is a crucial factor in our business. Once we receive an order, the artwork is packed by our sales team or the artist directly and then is sent to the client usually within three days along with a certificate of authenticity signed and numbered by the artist.

We are very experienced in packing art with the utmost care and provide numerous, credible professional services. Our customer care team is here to answer any specific questions a client might have. We also offer a money-back guarantee, if the work should arrive damaged or be unsatisfactory in any way.

Other than "buy art that you love," what single piece of advice do you typically give to someone who may be purchasing original art for the first time?

DA: Although many of our collectors enjoy purchasing art as an investment, we advocate buying art primarily for the enjoyment you get from the work. After that, the investment potential becomes incidental and merely a potential bonus to your overall enjoyment of the work.

If increasing the value of your investment is a consideration, then I would recommend purchasing original paintings.

However from my point of view, collecting is a very personal experience, and what is most important is that you find artists whose work speaks to you in a unique way. I like helping people to build up strong, personal, cohesive collections they and their families enjoy every day.

We hope our collectors purchase art at 5 Pieces Gallery as a personal investment- because it moves them on an aesthetic, emotional, and intellectual level.

What does the future hold for the online art market? 

DA: The Internet has definitely made access to contemporary art more democratic. We are developing a kind of universal culture of art, which of course is a fantastic way to unite and promote the best in human nature. But I’m curious to see how the Internet will ultimately affect individuality and the development of art in general.

LINKS

5 Pieces Gallery

Facebook: 5 Pieces Gallery

Who's Running The Online Art Gallery?

If you plan to buy original art through an online gallery, try to learn more about the credentials and expertise of the people running it. Not all galleries are run by professionals experienced in the art market.

In fact, some online art platforms operate without much human oversight at all, which can be risky to both artists and buyers. For example, if the online gallery is run by someone who hasn’t seen the actual art and built a relationship with the artist, can the buyer have faith that the art is accurately priced, archivally sound, and offers investment potential?

Saray Ryan, curator and founder of New Blood Art in the U.K. doesn’t think so. She works with new and emerging artists to ensure that their works are realistically priced and released in a carefully managed way.

Untitled II by Emma Devane, mixed media on canvas, 175 x 175 cm

Ryan started New Blood Art in 2004 because she recognized that selling art online “offered an economically viable way of selling truly affordable artwork by talented young artists without being crippled by the overhead of a physical gallery space.”

The staff at New Blood Art visits all of the UK graduate art shows to find the best new talent. The site currently offers more than 2,000 pieces at prices as low as ₤50.00.

“Over the last nine years, we have built good relationships with both the clients we serve and the artists that we represent. We have a good track record for identifying artists that have gone on to do very well and whose work has increased in value over time,” says Ryan.  “As a gallerist, it is vital to get to know artists personally over time, assessing their commitment to their practice and the quality of the work they produce.
This insight is critical when determining investment potential for clients.”

Ryan not only gets to know the artists whose work appears in her online gallery, she also interacts with art buyers: “I do interact with personally with our clients and often meet with them and speak on the telephone. Without this interaction, I’m not sure we would have the same loyalty.”

LINKS

New Blood Art