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Post by Teddy at PopDrawer.com on Jul 1, 2008 11:31:07 GMT -8
This is something I've been interested in of late, and I would love to hear thoughts on the subject. As I collect, my tastes tend to change over time. My budget is not unlimited, so I consider selling from time to time. But I know from a recent conversation with a well-known artist that artists have very mixed feelings about seeing their work for sale. Particularly on eBay. I know that some collectors try to keep themselves anonymous so that they are not punished by the artist or gallery and prevented from buying a piece in the future. One particular artist I know suggested that he be alowed to buy back any painting from the collector if that collector decides to sell. But at what price? Original price? shouldn't the collector be allowed to profit from a sale if the art has gone up in value? Should there be a stigma on selling what you have purchased? What are your thoughts on the subject, as collectors? And if you are an artist or have had this discussion with one, I'd love those thoughts as well. Cheers, Teddy Popdrawer The Modern Art Blog www.PopDrawer.com |
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Post by richardtharbaugh on Jul 1, 2008 12:06:58 GMT -8
Through the gallery, artist or private party is best. eBay is great to sell new original art on, too... but only if you want to piss off the gallery, artist, and be a dolt.
Usually, a gallery owner or artist will help you determine a price and find you a seller. They'll take a commission usually - but you'll keep a strong rapport with them, and if you wish to continue to buy art - that's not a bad thing.
You can always find folks in communities like this, too.
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Post by comiconart on Jul 1, 2008 13:06:40 GMT -8
In any other facet of life, seller sets price, buyer either accepts or declines...and once buyer takes possession it is theirs to do with as they will. I cannot understand why galleries and/or artists would have a problem with this. We are supporting them by buying the work. That doesn't mean that we are obligated to own the art indefinitely. Tastes change, priorities change, and when you are no longer attached to the art you have purchased, it is just another commodity that can be sold/traded in order to acquire something else. You have already supported the artist and gallery by buying the art in the first place...whatever you do with it after that is totally up to you IMO.
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Post by sketchypad on Jul 1, 2008 13:14:52 GMT -8
Good question. I'm curious about this myself. I think as a courtesy, you might want to extend the gallery that sold you the work the opportunity to re-sell it. The state of California has a Resale Royalty Act, which entitles artists to a royalty payment upon the resale of their works of art under certain circumstances. The California Resale Royalty Act provides that, with a few exceptions, the seller must pay the artist (or, in some cases, a deceased artist's estate) five percent of that resale price. Certain sales by an art dealer will not generate a resale royalty. www.cac.ca.gov/resaleroyaltyact/resaleroyaltyact.php |
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Post by sleepboy on Jul 1, 2008 21:23:12 GMT -8
I think that you should wait a while before selling something because it just doesn't look good doing it right after a show. How long you should wait? Don't think there is a good answer. I don't think artists should get upset about the secondary market if a good amount of time has passed. That said, I was made an offer I couldn't refuse once and traded/sold a piece several months after a show. Also, there are circumstances where money is needed where it would be okay. I think that private sales are better obviously and if it was a trade, or if you are using money to buy a bigger piece it might not be as bad. Hehe, sounds a little hypocritical doesn't it? By the way, some of this was discussed in this thread a while back. I will bump it up so that it can be referenced easily. |
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Post by ruud035nl on Jul 1, 2008 22:28:06 GMT -8
I don't see any problem in selling art as long as your original purchase was honest; you bought it because you loved that piece.
After that fact a lot can change over time (you need money, your taste has changed etc.), it nobody's business but yours.
But people who sell within days/weeks after a purchase do not appear very honest to me. Taste doesn't change in a matter of days. I always tend to think resellers (just days after a release/show) are tactical buyers (or flippers), i don't want to support them.
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Post by commandax on Jan 13, 2009 22:04:55 GMT -8
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Post by comiconart on Jan 14, 2009 13:14:27 GMT -8
Interesting read...thanks for posting! :-)
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Post by solar77 on Jan 15, 2009 7:03:52 GMT -8
Makes me want to schmooze my way onto the list for a Richard Prince painting. If I can make a $2mm flip, feel free to ban me from the high-end art market for life. ;D
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