It's definitely a factor but no art adviser is going to recommend clients drop 50-100k on someone based on an auction at Sotheby's unless there's critical acclaim and the promise of big things in the pipeline too.

Slowmo - I respectfully disagree with some of your points. I think what's hurt Neate a bit is that so many of his works appeared at auction so early - but it doesn't surprise me so many did given speculative craze of the past 2 years. Elms should have done a better job vetting buyers that's for sure! However I don't think he can be deemed an auction failure whatsoever. Suicide Bomber obtained 78.5K GBP at Sotheby's. All subsequent Neate pieces entered into auction were in the bottom 25% of his production quality-wise (take that escalator piece for example) . If his bangers were coming up to auction and not selling I would agree more with you - but that's just not the case.

And not geared at you - another thing I think many fail to realize is that sell-out shows are not the norm in the contemporary art world. So there doesn't need to be some huge price reduction for works (given the horrendous economies it will play more of a factor I admit) but I don't think Neate originals are suddenly going to be 50% of the prices of his last show. They should probably keep them the same or slightly lower, or maybe have him create smaller-in-size works, and if God forbid works don't sell they can be used in subsequent shows or go to secondary galleries.

And lastly going back to Parla... comparing this work at Sothebys from 2002 to Parla's recent works at Elms & Italy is comparing apples to oranges.

You really think people devote their lives to this without actually loving the art? It's their living, it's their passion. The gallery I'm at and many others are getting by by the skin of their teeth in this economy and many are risking their own personal wealth because they love what they do and they want their artists to succeed.

You can admire any artist from afar, but if you're about to spend 50, 100, 200k on them you should know what you're doing and conduct some in depth research.

A gallery's expectations & opinions don't force someone to open up their wallet and purchase a piece!

I honestly feel many threads on here should be mirrored:
1. One to discuss the actual art/artistic merit
2. The other to discuss it from an investment perspective

People who buy art should derive HUGE ENJOYMENT from having art in their lives/on their walls. Also I think there is a great quote in Collecting Contemporary that you're making a lifestyle decision. Being involved in the arts surrounds you with people that hopefully share a similar passion, introduce you to great people and artists, and hopefully you have fun along the ride.

If you look at art as you would a stock/mutual fund then:
1. I feel sorry for you
2. That speculative phase/boat has already longed sailed

Hey RBK, nice points well made. Always two sides to any coin and a nice bit of debate going on on this thread.

Without meaning to sound either patronising or condescending, Jose Parla has a much larger, global following than people realise.

I would actually argue that the people that speak about him on the street art forums only represent a fraction of his market, especially when it comes to buying the work itself.

There is certain things going on with Jose that most people simply aren't aware of. It isn't my place to say, but i can assure you that he is being collected by some of the most respected collectors world-wide.

But most importantly of all, he is collected by some of the worlds leading contemporary artists themselves. For an artist like Jose to be collected by his piers, is a serious mark of respect.

I totally understand why people would think that outside of the forums he isn't well known, but i can honestly say it's quite the opposite.

Jose's is one of only a few that has a truly global following.

As for the piece at Sotheby's, i think it will sell for between $50k and $75k USD, which by the time you add the 20%, plus the VAT on the 20%, could push it around the $100k mark.

For an older piece, that would be a pretty respectable price and most certainly in-line with current pricing. His work has moved on leaps and bounds, and if you check the thread started by Vavavoom, you'll see some photo's of some pretty amazing work.

Neate...well that's another story...i could go on, but feel i would get a battering

So you finally bought the JMB canvas eh...always knew you were caked!

I don't understand you point? I never said anything about Hirst / Insect?

Hirst bought an entire show, that isn't collecting...that's shopping.

Parla has been collected over a number of years. One piece here, one piece there.

It's quite different.

And you're right, when spending a lot of money on a painting, you should do your research and know that if you need a get-out-of-jail card, you can turn that painting back into cash.

Regardless of this thread - Andrew this quote made my day!

Please do... I'm intrigued...

<--- gets the popcorn ;D

My bet is that the Parla goes for $35-45K (unless dealers get involved)

The biggest problem with this work is that it is ONE piece in an auction, no one will ever know the true value, because surely it is in the interest of many galleries to want this piece to fetch good money to justify the current prices of his work, read into this whatever you will!!!!

£75k + VAT at last show.