 Our website is currently under re-construction and the links will be updated shortly..... UNDERSTANDING THE ART WORLD
There are as many different types of dealers as there are types of art to collect. Our website represents a wide range of top dealers in many areas, and pertinent information on the membership may be found elsewhere on this site. In choosing which dealers you want to work with, it may be useful to consider the following distinctions:
Primary-Market Dealers
Primary-market dealers identify new talent, in the process advancing the careers of living artists and serving as catalysts for new art movements. These dealers regularly visit artists' studios and participate in international art fairs. Primary-market dealers also function as a critical source of support for contemporary artists by providing stipends and encouragement. As the first to commit to the work of emerging artists, they make a long-term investment in these artists' futures. Identifying tomorrow's talents today, primary-market dealers lead the way for curators and critics. Reputable dealers helped establish the careers of most key postwar artists in the United States.
Secondary Market Dealers
Secondary-market dealers handle work that is appearing on the market for resale on behalf of collectors and institutions. Often these dealers specialize in a particular period, developing expertise that equals or even surpasses that of art historians. In this market, issues of authenticity, title, attribution and rarity are preeminent. Secondary-market dealers are equipped to make the subtle evaluations necessary to distinguish gradations of quality. The taste and knowledge developed by the best secondary market dealers make them a vital resource not just for collectors, but also for curators, scholars, auctioneers and art consultants. Manyreputable or licensed dealers are the recognized experts on the artists or periods they represent, and they often administer important artists' estates or prepare catalogues raisonnés.
Public Galleries and Private Dealers
America's public galleries collectively offer the greatest free art show in the country. Presenting hundreds of exhibitions annually, without charge, they provide an unparalleled opportunity to browse, educating eye and mind simultaneously. While dealers who choose to operate on an appointment-only basis are obviously less geared to the general public, they are often able to serve clients on a more personalized basis. All good dealers share a serious commitment to their areas of expertise and are available to advise collectors in everything from the purchase of a single work to the formation of an entire collection. Dealers can be distinguished from auctioneers and art consultants by their unique financial commitment to the art and artists they represent. This commitment fosters a concomitant depth of knowledge.
Art Consultants
Art consultants sometimes help inexperienced collectors navigate the potentially confusing gallery scene, and serve as legs and eyes for collectors too busy to make the rounds themselves. Unlike dealers, consultants do not hold or own inventory but rather work purely on a commission basis (paid by the seller or the buyer or sometimes both).
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WHAT TO LOOK FOR IN A WORK OF ART
The six most important points to remember when considering the purchase of a work of art are authenticity, quality, rarity, condition, provenance and value. No one of these points is sufficient to warrant overlooking the others. All six factors should figure in your decision, even if you decide to make allowances in special cases. For example, if a work is extremely rare, you may have to accept a less than perfect state of preservation. But it would seem imprudent to buy a readily available type of work in less than fine condition.
Authenticity
No one wants to buy a fake. Dealers who represent artists or their estates automatically have access to primary source information that can be used to authenticate works. A dealer with an extensive history of dealing in a specific artist's work will also build up an archive of information, as well as a body of experience, which can help resolve questions of authorship and title. Many reputable dealers can authenticate works in their areas of specialization, or refer you to an appropriate expert.
Quality
Experienced dealers and collectors agree: it is always advisable to buy the best you can afford. The best way to develop an eye for quality is to look at a lot of art, and no one looks at more art than a good dealer. Art dealers are skilled at assessing the relative aesthetic merits of a given piece and evaluating it both within the larger context of art history and within the specific context of the artist's oeuvre.
Rarity
Although there are exceptions, rarity tends to enhance value. The rarity of a given work is determined by how many similar pieces exist and how frequently such works become available for purchase. By understanding a specific artist's oeuvre and by tracking the market, a reputable dealer is ideally poised to appraise the rarity of works that come up for sale.
Condition
The condition of an art work is important, and a reputable dealer will inform a prospective purchaser of all repairs and defects. Because specialist dealers see a great many works in the areas they represent, these dealers are uniquely qualified to assess the significance of repairs such as inpainting and lining. With some artists or types of work, it may be impossible to find a piece in pristine condition. A dealer can interpret the meaning of condition in the context of the artist's oeuvre and make a considered judgment about its impact on a work's value. In addition to counseling you on nuances of condition that a layperson would likely miss, a dealer can advise on restoration or conservation. Dealers familiar with the work of a particular artist or period can determine whether restoration should even be attempted, recommend a restorer with pertinent prior experience, and give the restorer invaluable information regarding the techniques and materials used by the artist. Inept restoration can impair value even more than neglect!
Provenance and Exhibition History
A good provenance can help establish authenticity, art-historical importance and title. Similarly, inclusion in significant exhibitions may enhance a work's pedigree by documenting it and certifying curatorial approval. However, the absence of a complete provenance need not be a cause for alarm, provided you are working with a reputable dealer. For example, some modern prints and works on paper until recently were considered to have relatively little value and therefore were not fully documented. Some fakes come with magnificent (concocted) provenances! And sometimes, a seemingly unwarranted premium is exacted for past ownership: the hype surrounding certain high-profile sales can yield spectacular prices that do not hold up over time. Again, a dealer can help you evaluate a specific provenance to determine its legitimacy and significance. In fact, the inclusion of an important dealer in the history of a work may validate a piece more than a succession of lesser-known private collectors.
Value
Tastes change, and values change accordingly. For example, the academic art of the nineteenth century, in its day, far outpaced in price the work of the contemporary Impressionists, only to be eclipsed by the latter group as the twentieth-century wore on. Today some of these academic artists, seriously undervalued for years, are experiencing a resurgence. Although no one can predict the future, dealers of high repute are able to place current values in perspective.
Art as an Investment
Collections motivated by the hope of financial gain often prove to be poor investments. Collectors should be wary of apparent bargains, as art chosen solely on the basis of price will yield a mediocre collection that does not hold its value on resale or during economic downturns. It is collections formed with passion and intelligence that stand the test of time, both aesthetically and monetarily.
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GLOSSARY OF USEFUL TERMS
Buy In: A lot that goes unsold at auction, failing to meet the preset minimum established by the consignor and the auction house
Catalogue Raisonné: A publication that documents and authenticates a complete inventory of an artist's oeuvre, sometimes specific to a given medium(e.g., paintings)
Inpainting: The process of retouching damaged areas of an art work
Lining: The process of applying a second canvas to the back of a painting to stabilize it. Sometimes (inaccurately) referred to as "relining."
Oeuvre: The complete body of work produced by an artist
Provenance: An art work's chain of ownership
Reserve: The minimum acceptable price set by the consignor of a work to auction, below which the lot will not be sold. The reserve should not exceed the low estimate, but this rule is sometimes ignored, in which case the low estimate becomes meaningless. Auctioneers are allowed to bid against the audience on behalf of the consignor, up to the reserve. If the bidding continues thereafter, it means there is real interest in the room and the price climbs accordingly. On the other hand, if no one bids against the reserve, the lot will be "passed" (bought-in) and returned to the owner after expenses and handling charges (which can include the full seller's commission) are paid.
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