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October 27, 1990 - Image 38

Resource type:
Text
Publication:
The Detroit Jewish News, 1990-10-27

Disclaimer: Computer generated plain text may have errors. Read more about this.

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HOME

Buying Art

Art has become a high priced, ac-
tively sought and fiercely traded com-
modity, beyond most people's reach.
Or has it?
Art is affordable. There are thou-
sands of art auctions held all over the
country, advertised in newspapers
and open to everyone. And while
million dollar paintings will always
dominate the news, most paintings
sell for much, much less. In the last
five years, over 125,000 paintings sold
at auction in the U.S. Over half sold
for less than $500.
They were bought by people who
realized that for little more than the
price of a framed poster, lithograph
or print, they could own an original,
completely unique painting, drawing
or sculpture.
More people than ever before have
the interest, inclination and income
to collect fine art. Yet they may hesi-
tate to begin because they don't
know where or how to start, because
they find art galleries intimidating, or
because they can't be sure that they
are being quoted reasonable prices
for paintings they'd consider buying.
Because there's nothing standard-
ized about an original work of art,
there's no list price. There's no way
for a buyer to be sure whether the
price estimate for a painting in an
auction catalog, or the price quoted
by a dealer or gallery is fair, or just
wishful thinking.
There are, however, established
price ranges for the works of artists
who are regularly sold at auction.
Auction prices are public, while
gallery prices are not. They constitute
the only hard price information about
artist's sale histories.
Learning about art, by going to
museums and galleries, taking
courses, attending lectures, and
reading everything that you can is a
wonderful adventure. As you learn
you will discover what you like and
hone your taste. Buying art and start-
ing your own collection expresses
your confidence in your own judge-
ment.
Art for art's sake is the principle that
has guided serious artists for cen-
turies. Economic realities prevail
within the art marketplace, but an
educated buyer always has the
edge.

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