This Month's Happenings
Since our spring newsletter we have seen record prices for art at the auctions. Over the many years we have been curating The Tori Collection we have been constantly asked “Is Art an investment?” Certainly if you were alive in the 1930’s and 20’s and bought the impressionists across Europe you would definitely say ‘yes”. But what of more current artists. One thing is clear that artists that gain a following in their lifetime once life ends their prices do spike. Take a couple of artists that we have followed and have in our private collection. Itzchak Tarkay (1935 – 2012) trained in Israel from where he led a prolific career. His works continue to be collected around the world. Looking at 2014 over 2015 we have seen published prices for his oils increase 50%. Not all of his work follows that trend as he was widely published in poster, serigraph formats. Another artist we have followed and collected is George Rodrigue (1944 – 2013) famed for his Blue Dog themed work. He was inspired by the mystical culture of his native Louisiana so eminent in his portfolio of work. After his death in 2013 his work immediately doubled in price and today maintains 300 to 500% premiums over its original price. Of course not all artists need death to appreciate the value of their work. Many other factors can impact the availability and demand for their work during their lifetime.
The answer to this question we give to perspective collectors is not to buy with a view to financial gain but rather what is the joy and meaning that a particular piece can bring to your life. This can be a memory, a thought provoking stimulus, or simply it just pleases you and brings a joy every time you view. Of course the prospect of the value increasing over time can take away any guilt from the purchase.
