by Joyce V Harrison

Created on: October 30, 2010   Last Updated: January 04, 2011

The Vogel Art Collection contradicts the premise that you need to be rich to collect art. The New York couple—he was a postal worker, she worked as a librarian— became a subject of the PBS program, Independent Lens (www.pbs.org/independentlens/herb-and-dorothy/film.h tml). They collected contemporary art that was worth several million when they donated the works to the National Gallery of Art. You can actually take the Collector Challenge on that site to find out “if you know collectible art when you see it.”

Assuming you don’t have the Vogels’ eye for identifying the next major artist nor the time to devote to befriending artists as the Vogels did, but you do have the money, you may choose to add to your collection by buying from a gallery or participating in an auction. In either case, “knowledge is power” still applies. The more you know about the artist and the seller, the better equipped you will be to judge the value of your art purchase. What also applies to any purchase: like what you choose rather than making your selection based on what’s currently hot and what’s not. For instance, in the 90s, artist Robert Longo was, so to speak, out of favor. A limited edition print from his “City” series sold then for under $2,000. That same print in 2010 would cost you in the neighborhood of $10,000.

If you decide to go the online auction route, you also need to familiarize yourself with the process. Dr. J. Darragh M. Elliott, M.Sc., Ph.D., in his article on “My Ten Rules for Buying Art at Auctions” (www.fineartappraiser.com/featureNov97.htm) sets his first rule as “do not be naive enough to believe that all auction houses only sell consigned items.” He talks about how he investigated in depth a work that he wanted to purchase.

You can get help with the online bidding process by checking out the resources on the Art Collecting Web site (art-collecting.com/auctions.htm). Their caution: “be very careful when you first start bidding.” Also remember that you need to include those extra costs in your calculation, namely the seller’s commission and the shipping.

Another concern is authentication. You can read claims of authenticity that may be legitimate, but you have no verification. There have been court cases involving sellers who were found guilty of selling fakes of some very famous works. You may therefore want to allot some of your investment costs to appraisal, as well as insurance.

Martin Lawrence is one gallery that holds auctions in the spring and fall. The gallery describes the auction (www.martinlawrence.com/auction_frameset.html) as including “original paintings, bronze sculpture, serigraphs, etchings, and lithographs by many of the twentieth century's most prestigious artists” adding that the works come with “museum-quality framing.”

Of course, ebay offers a selection of fine art for bidding and Live Auctioneers online covers a wide range of collectibles from fine art to furniture. In each case, you can view the items in advance.

These days, you can also buy directly from many artists who sell their works online. Contact information allows you to get in touch if you’re interested in commissioning an original. 

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