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January 1970
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How do you pay for your art?, by Deleted on Sept 29, 2014 17:00:04 GMT 1, Basic rules IMO for buying art:
1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art.
2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans.
3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do.
4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes.
5. Know what you can't get or afford, and live with the fact. This goes back to #1; don't take out a loan to buy a Banksy. Don't buy art assuming you will sell other prints to recoup the cost. This is how you end up screwed, and selling your favorite prints because you made some miscalculation in how the market would react.
Basically, buy art for art's sake. I know a lot of you have valuable art on your walls, but you should not let the value of the art on your walls factor into how you view the amount of money in your bank account (i.e. it should not be considered additional value, even though it clearly is; maintain your bank account level regardless of the value of art on your walls, they should be entirely separate realms).
Basic rules IMO for buying art:
1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art.
2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans.
3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do.
4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes.
5. Know what you can't get or afford, and live with the fact. This goes back to #1; don't take out a loan to buy a Banksy. Don't buy art assuming you will sell other prints to recoup the cost. This is how you end up screwed, and selling your favorite prints because you made some miscalculation in how the market would react.
Basically, buy art for art's sake. I know a lot of you have valuable art on your walls, but you should not let the value of the art on your walls factor into how you view the amount of money in your bank account (i.e. it should not be considered additional value, even though it clearly is; maintain your bank account level regardless of the value of art on your walls, they should be entirely separate realms).
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Deleted
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January 1970
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How do you pay for your art?, by Deleted on Sept 29, 2014 17:23:37 GMT 1, Basic rules IMO for buying art: 1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art. 2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans. 3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do. 4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes. 5. Know what you can't get or afford, and live with the fact. This goes back to #1; don't take out a loan to buy a Banksy. Don't buy art assuming you will sell other prints to recoup the cost. This is how you end up screwed, and selling your favorite prints because you made some miscalculation in how the market would react. Basically, buy art for art's sake. I know a lot of you have valuable art on your walls, but you should not let the value of the art on your walls factor into how you view the amount of money in your bank account (i.e. it should not be considered additional value, even though it clearly is; maintain your bank account level regardless of the value of art on your walls, they should be entirely separate realms). 1 out 5....20%...reminds me of my RE results!!
Basic rules IMO for buying art: 1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art. 2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans. 3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do. 4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes. 5. Know what you can't get or afford, and live with the fact. This goes back to #1; don't take out a loan to buy a Banksy. Don't buy art assuming you will sell other prints to recoup the cost. This is how you end up screwed, and selling your favorite prints because you made some miscalculation in how the market would react. Basically, buy art for art's sake. I know a lot of you have valuable art on your walls, but you should not let the value of the art on your walls factor into how you view the amount of money in your bank account (i.e. it should not be considered additional value, even though it clearly is; maintain your bank account level regardless of the value of art on your walls, they should be entirely separate realms). 1 out 5....20%...reminds me of my RE results!!
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Deleted
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January 1970
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How do you pay for your art?, by Deleted on Sept 29, 2014 17:36:58 GMT 1, I disagree, Castle; you're definitely doing at least more than one IMO.
1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art.
[No comment]
2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans.
[Castle wins. I don't think you buy your art for the sole purpose that it will rise in value; I think you also appreciate the art itself. This seems evident from how much you seem to adore each piece that comes into your gallery. I could be wrong, but really this was meant more to address 'flipping' in the most flip-happy sense of the word.]
3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do.
[No comment]
4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes.
[Castle wins; you work! You run a gallery!]
5. Know what you can't get or afford, and live with the fact.
[Rule wins]
I disagree, Castle; you're definitely doing at least more than one IMO.
1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art.
[No comment]
2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans.
[Castle wins. I don't think you buy your art for the sole purpose that it will rise in value; I think you also appreciate the art itself. This seems evident from how much you seem to adore each piece that comes into your gallery. I could be wrong, but really this was meant more to address 'flipping' in the most flip-happy sense of the word.]
3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do.
[No comment]
4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes.
[Castle wins; you work! You run a gallery!]
5. Know what you can't get or afford, and live with the fact.
[Rule wins]
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How do you pay for your art?, by dantesimone1981 on Sept 29, 2014 20:08:28 GMT 1, I save for months and then realize i cant afford the prints anymore! I'm looking at you toxic mary, why oh why have you gone up sooo much recently
I save for months and then realize i cant afford the prints anymore! I'm looking at you toxic mary, why oh why have you gone up sooo much recently
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Deleted
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January 1970
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How do you pay for your art?, by Deleted on Sept 29, 2014 20:49:56 GMT 1, I save for months and then realize i cant afford the prints anymore! I'm looking at you toxic mary, why oh why have you gone up sooo much recently The unsigned that sold on Hang-Up for 3500GBP blew my mind. And now they have one for 3900GBP.
Still think 3500GBP is ridiculous for an unsigned TM. 2500GBP maybe.
EDIT: There's also an unsigned TM available at a gallery for 1900GBP, but it has a ding in the white area (a little hard to frame out, but definitely more a ding than a serious crease).
The gallery is Metropolis Arts - www.metropolisartworks.com
I save for months and then realize i cant afford the prints anymore! I'm looking at you toxic mary, why oh why have you gone up sooo much recently The unsigned that sold on Hang-Up for 3500GBP blew my mind. And now they have one for 3900GBP. Still think 3500GBP is ridiculous for an unsigned TM. 2500GBP maybe. EDIT: There's also an unsigned TM available at a gallery for 1900GBP, but it has a ding in the white area (a little hard to frame out, but definitely more a ding than a serious crease). The gallery is Metropolis Arts - www.metropolisartworks.com
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How do you pay for your art?, by dantesimone1981 on Sept 29, 2014 21:04:51 GMT 1, I save for months and then realize i cant afford the prints anymore! I'm looking at you toxic mary, why oh why have you gone up sooo much recently The unsigned that sold on Hang-Up for 3500GBP blew my mind. And now they have one for 3900GBP. Still think 3500GBP is ridiculous for an unsigned TM. 2500GBP maybe. EDIT: There's also an unsigned TM available at a gallery for 1900GBP, but it has a ding in the white area (a little hard to frame out, but definitely more a ding than a serious crease). It was around 1800 only 4-5 months ago at some galleries. There were a couple of the bay that weren't selling for 1600. Wish i had just bitten the bullet and gone for it. Its way beyond what I'm willing to pay/afford now.
I save for months and then realize i cant afford the prints anymore! I'm looking at you toxic mary, why oh why have you gone up sooo much recently The unsigned that sold on Hang-Up for 3500GBP blew my mind. And now they have one for 3900GBP. Still think 3500GBP is ridiculous for an unsigned TM. 2500GBP maybe. EDIT: There's also an unsigned TM available at a gallery for 1900GBP, but it has a ding in the white area (a little hard to frame out, but definitely more a ding than a serious crease). It was around 1800 only 4-5 months ago at some galleries. There were a couple of the bay that weren't selling for 1600. Wish i had just bitten the bullet and gone for it. Its way beyond what I'm willing to pay/afford now.
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How do you pay for your art?, by dantesimone1981 on Sept 29, 2014 21:06:47 GMT 1, crap sorry dss111 haven't got round to understanding how to quote on my posts!
crap sorry dss111 haven't got round to understanding how to quote on my posts!
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Deleted
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January 1970
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How do you pay for your art?, by Deleted on Sept 29, 2014 21:07:56 GMT 1, The unsigned that sold on Hang-Up for 3500GBP blew my mind. And now they have one for 3900GBP. Still think 3500GBP is ridiculous for an unsigned TM. 2500GBP maybe. EDIT: There's also an unsigned TM available at a gallery for 1900GBP, but it has a ding in the white area (a little hard to frame out, but definitely more a ding than a serious crease). It was around 1800 only 4-5 months ago at some galleries. There were a couple of the bay that weren't selling for 1600. Wish i had just bitten the bullet and gone for it. Its way beyond what I'm willing to pay/afford now. I can only imagine how frustrating it is to be saving up for something, only to see it be pushed just out of reach due to timing. I hope you end up getting one somehow. I'd consider the 1900GBP one with the slight pinch.
The unsigned that sold on Hang-Up for 3500GBP blew my mind. And now they have one for 3900GBP. Still think 3500GBP is ridiculous for an unsigned TM. 2500GBP maybe. EDIT: There's also an unsigned TM available at a gallery for 1900GBP, but it has a ding in the white area (a little hard to frame out, but definitely more a ding than a serious crease). It was around 1800 only 4-5 months ago at some galleries. There were a couple of the bay that weren't selling for 1600. Wish i had just bitten the bullet and gone for it. Its way beyond what I'm willing to pay/afford now. I can only imagine how frustrating it is to be saving up for something, only to see it be pushed just out of reach due to timing. I hope you end up getting one somehow. I'd consider the 1900GBP one with the slight pinch.
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How do you pay for your art?, by dantesimone1981 on Sept 29, 2014 21:14:28 GMT 1, Thanks mate. Who knows, the Banksy prices might even come down! hahahahahha
Thanks mate. Who knows, the Banksy prices might even come down! hahahahahha
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sake
New Member
Posts โข 317
Likes โข 104
January 2014
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How do you pay for your art?, by sake on Sept 30, 2014 8:33:14 GMT 1, Basic rules IMO for buying art: 1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art. 2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans. 3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do. 4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes. 5. Know what you can't get or afford, and live with the fact. This goes back to #1; don't take out a loan to buy a Banksy. Don't buy art assuming you will sell other prints to recoup the cost. This is how you end up screwed, and selling your favorite prints because you made some miscalculation in how the market would react. Basically, buy art for art's sake. I know a lot of you have valuable art on your walls, but you should not let the value of the art on your walls factor into how you view the amount of money in your bank account (i.e. it should not be considered additional value, even though it clearly is; maintain your bank account level regardless of the value of art on your walls, they should be entirely separate realms). 1. Well, I'm the new generation. "When do we want it? Now! What do we want? ehh.."
2. Well, need money for art
3. This is no problem until you actually need it. Atm I do not own a working stove.
4. Check.
5.Sadly, but true, those original Harringtons are slowly slipping away..
With that being noted, I work, look for good deals on markets and flip, flip prints, airbnb and sell stuff I dont need instead of storage. Keeps the house tidy and wallet filled.
Basic rules IMO for buying art: 1. Don't buy art if you can't afford it, and never go into debt (credit card or otherwise) for art. 2. Don't buy art simply because you think it will be worth more later. This works in isolated incidents, but a) makes you look like you have no taste, and b) is a dick move for real fans. 3. Your emergency fund (i.e. what you go to when you need to fix your house, an earthquake occurs, etc.) should consist of cash, not prints that you need to sell in order to get said cash. If you don't have this emergency fund, then stop buying prints until you do. 4. Work. This is the most commonsense way to get money on a steady basis; a good salary will allow you to buy art beyond your wildest dreams, without ever having to think of selling it for financial purposes. 5. Know what you can't get or afford, and live with the fact. This goes back to #1; don't take out a loan to buy a Banksy. Don't buy art assuming you will sell other prints to recoup the cost. This is how you end up screwed, and selling your favorite prints because you made some miscalculation in how the market would react. Basically, buy art for art's sake. I know a lot of you have valuable art on your walls, but you should not let the value of the art on your walls factor into how you view the amount of money in your bank account (i.e. it should not be considered additional value, even though it clearly is; maintain your bank account level regardless of the value of art on your walls, they should be entirely separate realms). 1. Well, I'm the new generation. "When do we want it? Now! What do we want? ehh.." 2. Well, need money for art 3. This is no problem until you actually need it. Atm I do not own a working stove. 4. Check. 5.Sadly, but true, those original Harringtons are slowly slipping away.. With that being noted, I work, look for good deals on markets and flip, flip prints, airbnb and sell stuff I dont need instead of storage. Keeps the house tidy and wallet filled.
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How do you pay for your art?, by Schrรถdinger's Chat on Sept 30, 2014 9:11:50 GMT 1, I think own art is quite a good way of doing things, as long as you know the pay back is affordable to you, it's interest free if I remember correctly, unlike a credit card.
I used it once a few years ago not because I needed to on that occasion but I knew I could afford the repayments and I wanted to support the scheme so that it would keep being available for others, or for me if I wanted to use it in the future.
I think own art is quite a good way of doing things, as long as you know the pay back is affordable to you, it's interest free if I remember correctly, unlike a credit card.
I used it once a few years ago not because I needed to on that occasion but I knew I could afford the repayments and I wanted to support the scheme so that it would keep being available for others, or for me if I wanted to use it in the future.
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Deleted
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January 1970
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How do you pay for your art?, by Deleted on Sept 30, 2014 15:07:22 GMT 1, My post is half "how to buy art" and half "how to manage your money in a common sense fashion so you don't end up in financial straits or a disaster scenario."
If you don't have an emergency fund, that is something you need. Really. Do you also not have health insurance? Accidents happen all the time, and the more pressing emergencies will not allow you time to sell your prints to get the necessary cash.
This is of course different if you are living off your parents; the Rules post was supposed to only apply to financially self-sufficient individuals.
My post is half "how to buy art" and half "how to manage your money in a common sense fashion so you don't end up in financial straits or a disaster scenario."
If you don't have an emergency fund, that is something you need. Really. Do you also not have health insurance? Accidents happen all the time, and the more pressing emergencies will not allow you time to sell your prints to get the necessary cash.
This is of course different if you are living off your parents; the Rules post was supposed to only apply to financially self-sufficient individuals.
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zzz
New Member
Posts โข 160
Likes โข 369
September 2010
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How do you pay for your art?, by zzz on Sept 30, 2014 16:18:58 GMT 1, I often wondered the same question. I don't really budget to buy any art but if something comes along and I have some extra funds then I go for it, within reason of what I can afford. Bills are paid first, need a place to live to hang up what I am able to buy. I have been lucky to get a few of the pieces that I have. Most of everything that I have bought has made it up on a wall. I have never flipped a print yet. With no plans to really do so either.
My wife has told me I need to take a long break from buying anything as September was a little expensive. I was able to score the Chloe Early and Conor Harrington this month. They will both go to the framers and up on the wall.
On a small side note I still have prints at the framer that I dropped off before Christmas but don't have the wall space at the moment for them, now two more will be there. Have to rearrange what is up now to make room for the new.
ZZZ
I often wondered the same question. I don't really budget to buy any art but if something comes along and I have some extra funds then I go for it, within reason of what I can afford. Bills are paid first, need a place to live to hang up what I am able to buy. I have been lucky to get a few of the pieces that I have. Most of everything that I have bought has made it up on a wall. I have never flipped a print yet. With no plans to really do so either.
My wife has told me I need to take a long break from buying anything as September was a little expensive. I was able to score the Chloe Early and Conor Harrington this month. They will both go to the framers and up on the wall.
On a small side note I still have prints at the framer that I dropped off before Christmas but don't have the wall space at the moment for them, now two more will be there. Have to rearrange what is up now to make room for the new.
ZZZ
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