Guy Denning
Artist
New Member
Posts โข 636
Likes โข 1,281
July 2007
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stressy about auction prices?, by Guy Denning on Oct 29, 2008 14:08:08 GMT 1, Interesting article in this week's New Statesman on the current art market - which basically reinforces the favourite old line that's always being posted here... BUY WHAT YOU LIKE.
Favourite line in the article 'People who bought art for the wrong reasons better get used to looking at it.'
Here is is:
www.newstatesman.com/arts-and-culture/2008/10/art-market-works-prices
Interesting article in this week's New Statesman on the current art market - which basically reinforces the favourite old line that's always being posted here... BUY WHAT YOU LIKE. Favourite line in the article 'People who bought art for the wrong reasons better get used to looking at it.' Here is is: www.newstatesman.com/arts-and-culture/2008/10/art-market-works-prices |
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stressy about auction prices?, by Daniel Silk on Oct 29, 2008 14:19:48 GMT 1, Good find Guy ;D
I think some people are selling stuff now coz they just have too  not thinking about if it was bought as investment or for the love of the art, they just cant afford to keep it.
And then you have others who are well off money wise and will never have to sell anything through money problems, so they will be enjoying the current situation as they can hoover up some great pieces of art a knock down prices.
So how are these two sorts of people gonna be in a few years time when maybe things have improved? A large number of people wishing they had never sold the art  and a small group with incredible collections.
How do you see things working out for different people over the next few years?
Good find Guy ;D I think some people are selling stuff now coz they just have too not thinking about if it was bought as investment or for the love of the art, they just cant afford to keep it. And then you have others who are well off money wise and will never have to sell anything through money problems, so they will be enjoying the current situation as they can hoover up some great pieces of art a knock down prices. So how are these two sorts of people gonna be in a few years time when maybe things have improved? A large number of people wishing they had never sold the art and a small group with incredible collections. How do you see things working out for different people over the next few years? |
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nacional
Junior Member
Posts โข 1,734
Likes โข 227
August 2007
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stressy about auction prices?, by nacional on Oct 29, 2008 15:24:25 GMT 1, Maybe, but, as always, don't assume that this crisis is going to last forever, or even last for a long time. As always, the best time to buy is when there is "blood on the streets", literally or metaphorically. If you have some sloshing around, buy property and/or art: in 5 years time you will be reaping the rewards. This kind of article always appears in reaction to a crisis and is only correct in the short-term...
Maybe, but, as always, don't assume that this crisis is going to last forever, or even last for a long time. As always, the best time to buy is when there is "blood on the streets", literally or metaphorically. If you have some sloshing around, buy property and/or art: in 5 years time you will be reaping the rewards. This kind of article always appears in reaction to a crisis and is only correct in the short-term...
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Tiki
Junior Member
Posts โข 1,223
Likes โข 157
May 2008
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stressy about auction prices?, by Tiki on Oct 29, 2008 15:48:40 GMT 1, I hate to disagree nacional but well.... i disagree. This whole thing runs extremely deep and were seeing problems we have never seen before in any other recession. When the experts start saying were in big trouble, chances are were in big trouble. We are weeks away from a recession which we can only recover from once the problems are being fixed. The fact is nothing is being fixed and the reality is a recession has the potential to become a depression very easily because of that.
I hate to disagree nacional but well.... i disagree. This whole thing runs extremely deep and were seeing problems we have never seen before in any other recession. When the experts start saying were in big trouble, chances are were in big trouble. We are weeks away from a recession which we can only recover from once the problems are being fixed. The fact is nothing is being fixed and the reality is a recession has the potential to become a depression very easily because of that.
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stressy about auction prices?, by Daniel Silk on Oct 29, 2008 15:54:37 GMT 1, If the Country does goes into a depression I would rather be sat here with some crackin art on the wall ;D rather than in some shares or in the bank that could completely disappear any minute 
If the Country does goes into a depression I would rather be sat here with some crackin art on the wall ;D rather than in some shares or in the bank that could completely disappear any minute |
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Tiki
Junior Member
Posts โข 1,223
Likes โข 157
May 2008
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stressy about auction prices?, by Tiki on Oct 29, 2008 16:12:20 GMT 1, 100% agree with you there Silky, but then again let's just hope you dont loose that art to the mortgage.
100% agree with you there Silky, but then again let's just hope you dont loose that art to the mortgage.
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stressy about auction prices?, by rosstierney on Oct 29, 2008 18:30:28 GMT 1,
stereotypical?
wasn't aware of that!
stereotypical?
wasn't aware of that!
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raiden
New Member
Posts โข 512
Likes โข 3
April 2008
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stressy about auction prices?, by raiden on Oct 29, 2008 20:10:52 GMT 1, Can't say I made this one up, but good nonetheless....
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.
If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.
If you had purchased $1,000 of shares in Lehman Brothers or Bear Stearns, one year ago, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00!!!!
Now if you had purchased a $1,000 of art, you're house would be much prettier, value or not.
Can't say I made this one up, but good nonetheless....
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.
If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.
If you had purchased $1,000 of shares in Lehman Brothers or Bear Stearns, one year ago, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00!!!!
Now if you had purchased a $1,000 of art, you're house would be much prettier, value or not.
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nacional
Junior Member
Posts โข 1,734
Likes โข 227
August 2007
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stressy about auction prices?, by nacional on Oct 29, 2008 23:38:48 GMT 1, And, if you would have spent 1000 pounds buying a few originals and prints by Banksy a couple of years ago you could have stuff worth 30000 quid today.
Or if you bought a couple of flats for 100000 quid 8 years ago you could have a couple of flats worth 600000 quid today.
Buy when the dead are walking...wait a few months and have some steel balls and buy...if you do you can stop worrying about your pension plan in 30 years time...
And, if you would have spent 1000 pounds buying a few originals and prints by Banksy a couple of years ago you could have stuff worth 30000 quid today.
Or if you bought a couple of flats for 100000 quid 8 years ago you could have a couple of flats worth 600000 quid today.
Buy when the dead are walking...wait a few months and have some steel balls and buy...if you do you can stop worrying about your pension plan in 30 years time...
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not thinking about if it was bought as investment or for the love of the art, they just cant afford to keep it.
and a small group with incredible collections. 
