Saturday, July 4, 2009

Recession - a great time to buy

If you wander around the established galleries today, you'll notice that most of them present their stockrooms. This is how they have survived during recessions and this time it's no different.
What that means for collectors:
1. You can buy great work at never to be seen again prices. You can haggle. Galleries will be happy to negotiate to get a sale. Their bills have to be paid.
2. Very few new artists are being given the opportunity to present their work. Most artists are desperate. And cheap. Here's your chance!
3. Emerging artists are very, very cheap. Their work will go up in price, simply because now it's so down. Look them up.
Whatever you do, BEWARE!
1. There is a reason why works in stockrooms hasn't sold. Do your homework, or better, stay away.
2. Established artists struggling are compromising on size, quality, subject matter. Do your homework, or better, stay away.
Emerging artists simply continue doing what they do, having little alternative. The quality, size and subject matter stays the same, as they don't have any reason to change. The price of their work hits rock bottom, so you can buy in bulk and watch your investment grow in good times.
Be smart - I know you are.