|
|
Good aspect of flipping, by onemandown72 on Feb 9, 2008 9:41:48 GMT 1, Got thinking about this, this morning and wanted to start a debate on this. Also I have no links to any galleries, am a collector who wants some intelligent balanced comment on the below.
Flipping is generally considered a dirty word on this forum, but I got to think about how much money would have been raised by Santa's Ghetto in Bethlehem without the backing of Banksy (who has seen his success built on demand for his talented work, which in part is then driven up through flipping at an individual and a gallery level). As it stands with over a $1m raised in this light surely it looks like it has had some relevant part to play.
I am fairly non judgemental about the whole flipping thing, and feel that there is a huge amount of hypocracy surrounding the whole issue of flipping, as I question how many owners of prints / canvasses would keep hold of them in light of the recent hike in prices achieved at Bonhams / Sothebys etc.
I, like every one else, have been incredibly frustrated in trying to buy any any art by Banksy since the beginnning of 2006. This has had the positive effect of looking further afield and following the age old rule of only buying what you like. This another positive aspect of flipping as without the success of Banksy would so many other artists have had the confidence to follow their hearts? How many other artists would have seen there work bought by speculative investors?
Long term I can see the artists benefitting from this, as this drives up interest in their exhibitions where they control their pricing (see the cost of the recent Bast exhibition, which was a fair reflection of where his market value was )
So what I am interested in is introducing a sense of balance with regards the whole flipping thing and whether other members on the forum agree that whilst flipping is an incredibly frustrating wall to owning art it has had some positive filter down effect?
Got thinking about this, this morning and wanted to start a debate on this. Also I have no links to any galleries, am a collector who wants some intelligent balanced comment on the below.
Flipping is generally considered a dirty word on this forum, but I got to think about how much money would have been raised by Santa's Ghetto in Bethlehem without the backing of Banksy (who has seen his success built on demand for his talented work, which in part is then driven up through flipping at an individual and a gallery level). As it stands with over a $1m raised in this light surely it looks like it has had some relevant part to play.
I am fairly non judgemental about the whole flipping thing, and feel that there is a huge amount of hypocracy surrounding the whole issue of flipping, as I question how many owners of prints / canvasses would keep hold of them in light of the recent hike in prices achieved at Bonhams / Sothebys etc.
I, like every one else, have been incredibly frustrated in trying to buy any any art by Banksy since the beginnning of 2006. This has had the positive effect of looking further afield and following the age old rule of only buying what you like. This another positive aspect of flipping as without the success of Banksy would so many other artists have had the confidence to follow their hearts? How many other artists would have seen there work bought by speculative investors?
Long term I can see the artists benefitting from this, as this drives up interest in their exhibitions where they control their pricing (see the cost of the recent Bast exhibition, which was a fair reflection of where his market value was )
So what I am interested in is introducing a sense of balance with regards the whole flipping thing and whether other members on the forum agree that whilst flipping is an incredibly frustrating wall to owning art it has had some positive filter down effect?
|
|
chablis
New Member
Posts โข 691
Likes โข 189
January 2008
|
Good aspect of flipping, by chablis on Feb 9, 2008 10:45:59 GMT 1, The compaint is that people are purchasing with the sole intent of reselling for profit. This is at the expense of some one who would like to buy to keep in their collection. The high demand is a function of popularity and there are many many collectors who appreciate the 'low' price at which pieces are released at. Without that chance, there is little chance of their owning these pieces. It is my understanding that many artists try to make their art accessible to a wide spectrum of people so are deliberately not following the market in pricing.
The flipping is only benefitting the wealthier collector who can afford the premium, but not the time investment. Yes availability has will always have a bearing on availability / desireability and hence price, and no one has ever suggested there should not be a secondary market, but the problem is that your genuine flipper community are well organised and predatory, they may even have tools at their disposal that give them unfair advantages. They are also quite capable of putting their scruples aside so we are not always talking about fellow friendly collectors which this forum tries to pride itself on.
Flippers no, collectors yes.
The compaint is that people are purchasing with the sole intent of reselling for profit. This is at the expense of some one who would like to buy to keep in their collection. The high demand is a function of popularity and there are many many collectors who appreciate the 'low' price at which pieces are released at. Without that chance, there is little chance of their owning these pieces. It is my understanding that many artists try to make their art accessible to a wide spectrum of people so are deliberately not following the market in pricing.
The flipping is only benefitting the wealthier collector who can afford the premium, but not the time investment. Yes availability has will always have a bearing on availability / desireability and hence price, and no one has ever suggested there should not be a secondary market, but the problem is that your genuine flipper community are well organised and predatory, they may even have tools at their disposal that give them unfair advantages. They are also quite capable of putting their scruples aside so we are not always talking about fellow friendly collectors which this forum tries to pride itself on.
Flippers no, collectors yes.
|
|
|
|
Good aspect of flipping, by mammal2 on Feb 9, 2008 11:40:04 GMT 1, I like Lee Mead!
I like Lee Mead!
|
|
