Friday, October 24, 2008

Losses in the Art Market!

In these astounding times, auction houses such as Sotheby's (US) are posting losses against guaranteed sales.....what does that mean?

Basically, if you are a seller, Sotheby's guarantees a selling price at auction for you (this is only for some, not all).....

As an artist, to me it still feels like gambling........I have never been privy to the prices that Damien Hirst gets, nor do I think I would get those prices, but nonetheless, my artworks have risen steadily in value over the years, they don't rise and fall like the stock market or auction houses, and sales are always about the same year after year......owners of my paintings can usually get back their money if they do decide to auction, although most choose to keep their work as far as I can tell.

You know, we don't muck about gambling with our work, but just enjoy creating mostly beautiful works that sell to a market.......

It seems to me time to be honest about values and not let things get out of hand as they have as the 'greed principle' of late has led to a lot of speculation in not only houses and shares, but all sorts of 'goods'.......time for a wake-up call has come.......

This last exhibition of mine sold well, and at the right market price.......still I'll never be a millionaire! but I am happy with my lot as are most of my artist friends!

So keep on painting.....I don't think Sotheby's making a loss (or the stockmarket being shaky) is really going to affect us much out here in regional Oz!

Happy painting!


1 comment:

Melissa Barber said...

Joy, I know your work and your artistic reputation. Your clients would get MORE than their money back should they wish to part with their paintings. With work like yours you're too modest!