$100 Million?

For the Love of God!

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Yes this piece sold for $100M, entitled ‘For the Love of God’.  It is a sculpture by Damien Hirst, one of the biggest names in contemporary art today.  He is just one of many artists that are selling their works for seven figures and above, and this is what I would like to briefly discuss right now.

With so much turmoil in the financial markets over the last number of years, investors have been searching out tangible assets to put their money into.  Everyone has heard about gold and other precious metals as a safe investment when the value of money is not clear.  Even Bitcoins have had a recent spike and then a correction, but still 5X its value from a year ago.  Art though, it has been given the most attention over the last few years and it’s exciting but also scary!

Art is an asset that is hard the set a value to sometimes.  Traditionally, historical work had value due to scarcity… someone that is passed, can’t come back to create more works.  Nowadays, contemporary art is selling at auction houses such as Christie’s or Sotheby’s for amounts that could buy you a mansion and a yacht.  There is often marketing and hype in the art world, but the best bet is to judge a piece based on the artists skill, and how the beauty of the piece affects you.

When trying to set a price on the pieces sold on Recherché, sometimes it seems like a lot to ask for one piece.  So I recently took a look at a large online gallery for a similar painting themes.  I looked for ‘Figurative Paintings’ and I saw this piece by John Dubrow, a nice looking oil painting.

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This piece is being offered at a good gallery for $100,000.  Quite a high price tag, but just a fraction of a Hirst, Warhol or Picasso!

So after doing some comparative analysis, I felt much more confident about the value of Rechereché’s art.  Martin’s piece, ‘Friends Forever’, for example is priced at $8,000 and is also a figurative piece of high quality.

26" x 72" - Acrylic and Mixed Media on Masonite with Plexiglass (High Gloss Varnish - Framed with 3" Wood Frame)

26″ x 72″ – Acrylic and Mixed Media on Masonite with Plexiglass
(High Gloss Varnish – Framed with 3″ Wood Frame)

Now there is always the option of buying a print of a famous piece for a few hundred dollars, or maybe even a few thousand, but then it’s not an original… and everyone wants originals! So if you are interested in investing in art, I would recommend doing a little bit of research on the net to figure out how to value a piece.  Most importantly though, remember that art is made to affect people in a positive way, so you have to enjoy looking at it… it has to be beautiful to you.

Chris

If this was interesting and/or helpful to you, please share with 2 friends who may also like it… it’s a small thing that will make a big difference to us.  Thank you.

Welcome to Miami!Art Basel Miami 2013

Art Basel Miami is one event that I have to attend in the future.  After reading all the hype about the event, and hearing about all of the celebrities that attended, I had to take a closer look at one of the world’s largest art events.  With more then 75,000 attendees from around the world, ABM turned out to be much more than just a post-modern and contemporary art show.

Reports of celebrities seen, ranged from rapper Sean ‘Puffy’ Combs, to Martha Stewart, to the infamous Paris Hilton.  Even Leonardo DiCaprio, my favourite actor by the way, was apparently there looking for art investments.

Leonardo DiCaprio

All jokes aside, this turned out to be one huge and successful event, financially and socially speaking.  The main focus though, is essentially art (Post-Modern and Contemporary specifically).  This ranges from paintings, to photography, to graffiti, and sculptures. Imagination is a major theme that is clear with many of these artists.  Now, how was the art quality?  I will let you be the judge on that.

One artist who stood out in my eyes was Marilyn Minster.  A well known artist who has some very outrageous, but undeniably visually amazing work.  Contrary to many contemporary artists, she doesn’t seem to be aiming for shock value, but she still got my attention.  Here are two pieces of hers that I would be more than happy to own.

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So even if these styles of art are not typically your flavour, there could be a couple that jump out at you as well.  If not, you can always go to the after parties and have a blast while dancing to that old Will Smith song!

Art Basel Miami Party

Cheers,

Chris