loucastel
Junior Member
Posts โข 1,551
Likes โข 53
October 2007
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Fans V Investors, by loucastel on Dec 2, 2007 21:30:54 GMT 1, Great thread, it's nice to be able to debate something without getting into a slanging match, I should imagine most of us on here are minnows in the world of art collecting but yet each of us like things for different reasons which gives us different pespectives, prices for art is a very touchy subject for a lot of people even if they dont think so themselves, most celebs buy certain pieces of art from artists who are hot at the time purely for the kudos, I would be suprised if after they buy that particular piece they ever see it again, shoved away in storage somewhere, Saatchi being a case in point, ok he has exhibitions every now and again but he must have thousands of pieces, never to see the light of day, to these people spending thousands is like most of us on here spending 50 quid, we all buy art for different reasons ,some good some bad. We ar all guilty in our own small way of helping to drive prices and propelling artists to fame only to watch them crash and burn ,that is the market some will survive the course others wont as in all things time will tell, in the mean time keep collecting, irespective of price fluctuation.
Great thread, it's nice to be able to debate something without getting into a slanging match, I should imagine most of us on here are minnows in the world of art collecting but yet each of us like things for different reasons which gives us different pespectives, prices for art is a very touchy subject for a lot of people even if they dont think so themselves, most celebs buy certain pieces of art from artists who are hot at the time purely for the kudos, I would be suprised if after they buy that particular piece they ever see it again, shoved away in storage somewhere, Saatchi being a case in point, ok he has exhibitions every now and again but he must have thousands of pieces, never to see the light of day, to these people spending thousands is like most of us on here spending 50 quid, we all buy art for different reasons ,some good some bad. We ar all guilty in our own small way of helping to drive prices and propelling artists to fame only to watch them crash and burn ,that is the market some will survive the course others wont as in all things time will tell, in the mean time keep collecting, irespective of price fluctuation.
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BME
New Member
Posts โข 799
Likes โข 74
December 2006
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Fans V Investors, by BME on Dec 3, 2007 0:32:42 GMT 1, Nice thread, albeit it one with a familiar theme. Over the past few years it has been astonishingly easy to make money from street or contemporary art. Anyone buying Banksy/ Micallef/ Faile/ Neate/ Dface three or four years ago has made a killing. The substantial amounts of money now being paid for these works has created the impression that the art business is simply a free ride- buy Monday for $200, sell Tuesday for $2000.
The galleries reluctance to raise prices has perpetuated the current buying frenzy however, it has also led people to become less discerning and more greedy. One of the most common questions on this forum is 'who will be the next big thing?' which translates roughly as 'which artist will make me a lot of money in the near future?'. The answer varies but the expectation that vast amounts of money are there for the taking does not. It is this underlying expectation that fuels the scene and it is this underlying expectation that will be hardest hit when prices do begin to fall. It's a cliche but one worth restating here- buy what you love because you love it. Street art should not be mistaken for superannuation.
Nice thread, albeit it one with a familiar theme. Over the past few years it has been astonishingly easy to make money from street or contemporary art. Anyone buying Banksy/ Micallef/ Faile/ Neate/ Dface three or four years ago has made a killing. The substantial amounts of money now being paid for these works has created the impression that the art business is simply a free ride- buy Monday for $200, sell Tuesday for $2000.
The galleries reluctance to raise prices has perpetuated the current buying frenzy however, it has also led people to become less discerning and more greedy. One of the most common questions on this forum is 'who will be the next big thing?' which translates roughly as 'which artist will make me a lot of money in the near future?'. The answer varies but the expectation that vast amounts of money are there for the taking does not. It is this underlying expectation that fuels the scene and it is this underlying expectation that will be hardest hit when prices do begin to fall. It's a cliche but one worth restating here- buy what you love because you love it. Street art should not be mistaken for superannuation.
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