Market Value & Other Mysterious Terms
Today I thought it would be to write a little about the part of the business that hums along quietly but at times seems to defy gravity. I am a grateful friend of one of Californias more collected artists. Over the years his following has grown and his style has matured. A good number of very smart people buy his paintings as they are still relatively affordable and overtime they seem to reveal the complicated structures, palate and superb drawing. Most dismiss this work as it is accessible on several levels. A quick glance will probably not inform one of much. There is the abstracted figural work that serves as an outline that even the most concrete person you know will understand. Beneath that are many layers of paint. At times it seems like I am watching clouds, at other times I am studying complicated color compositions manipulated to form amazing passages.
Recently 3 of his paintings went to be sold. I did not see them personally but recognized them as parts of series done perhaps a decade ago. We did not chase them (it wouldn’t have mattered) One relatively pleasing and colorful example sold for nearly three times the gallery price. The most interesting part of this story is that this piece went to China. Up to this point the Chinese have been active collectors but limited more or less to Chinese material.
I do not study or follow trends in the contemporary art market. Does this mean this artists work is 3 times more valuable. Probably not. But this result does raise his status generally.
. Happy Hunting