TOP 10 REASONS PEOPLE
BUY/COLLECT ORIGINAL WATERCOLORS*
* Based on comments from art patrons
/ collectors.
Click Each Line for Details ...
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01.
UNIQUENESS OF OWNERSHIP A truly unique, fine-art watercolor simply cannot, nor should it, be mass produced. Think about it. There is a finite number of watercolor paintings any artist can create in a given lifetime. By most standards a totally original, one-of-a-kind artwork is an extremely limited commodity. There is also the immeasurable satisfaction and pleasure of owning and showing an original watercolor that is like no other. Original one-of-a-kind art is unique and therefore is not mainstream. Buying original art encourages the production of more original art. Buying original art vs "multiple" or "limited edition" art seems a double edged sword. Arguments can be made for both sides. Collecting reproductions, multiples, limited editions or "original" prints of any kind would seem to reduce the demand for original, one-of-a-kind art. The good news comes in the form of "supply and demand." Multiples of any kind increase the "supply" which tends to lessen "demand" and in turn decreases the value of a "multiple" or "limited edition." It would seem reasonable then to assume that the purchase of "multiples" tends to initially reduce the demand of one-of-a-kind art . With less demand for original art, the supply also tends to lessen. When the supply lessens, the demand and value begin to increase. Multiples or true one-of-a-kind works of art? Some collectors find it difficult to decide which approach is best. Different people will provide different answers. Common sense though seems to indicate reasonably priced original, one-of-a-kind art is generally preferred over and more valued than "multiple" or "limited edition" art.
"To be yourself in a world that tries, night and day, to make you
just like everybody else - is to fight the greatest battle there ever
is to fight, and never stop fighting." - E. E. Cummings
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02.
EMOTIONAL VALUE & PLEASURE OF OWNERSHIP For whatever reason, you like the painting. A simple concept but perhaps one of the best reasons to buy a painting. The painting expresses some special meaning or inspiration to the viewer. Ownership brings some form of strong emotional pleasure, passion, or satisfaction. It makes you "feel good." It's not uncommon to hear collectors say something like, "It [art] makes you smile."
Then too, there is that old saying "I don't know much about art, but
I know what I like." That may be a cliche, but like all cliches there
is some basis of truth to the statement. "Funny
thing about painting, you don't know what makes it right but you know
when it's wrong." - Charles W. Hawthorne
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03.
HOME BEUTIFICATION, EMBELLISHMENT & DECORATION Many collectors feel a home without art on the walls often seems empty, mute, less warm and less welcoming than one with artwork. Some use art to "show off" or provoke. Still others enjoy the thrill of the visceral pleasure a watercolor brings, or the passion created by surrounding a family with artwork. Some collectors use artwork as a personal form of expression.
This writer has personally witnessed a young couple so involved in art
that the bride was willing to forgo her wedding dress to purchase an
Original watercolor painting This same couple, in the early years of
their marriage furnished their living room with wooden fruit boxes.
They willingly elected to spend their money on collecting original art
instead of furniture. Their rationalization? They realized furniture
quickly wears out, while art lasts a lifetime and beyond. |
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04.
PERSONAL CONTACT WITH THE ARTIST Many people find working directly with the artist more enjoyable and less intimidating than dealing with a gallery. By contacting the artist directly, the buyer becomes acquainted with the one person who knows most about a painting; the person whose name is on the final product. Working directly with the artist provides an opportunity to gain information only the artist can provide and share; the motivation, hows and whys of design, as well as interesting and informative highlights of creation.
Dealing directly with the artist provides an open opportunity to discuss
such things as pricing, method of payment, satisfaction guarantee and
return policy. Most serious artists will be willing to provide some
reasonable payment plan and guarantee to the buyer. Additionally, by
dealing directly, the patron avoids the gallery sales commission and
usually has the option of purchasing the work unframed, framed, or custom
framed to personal specifications.
"The
artist is not a person endowed with a free will who seeks his own end,
but one who allows art to realize its purpose through him." - Carl Jung |
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05.
LONGEVITY & PERMANENCE A well executed watercolor painting doesn't go out of style with the seasons nor does it fall behind in technology. If the original watercolor is of good quality, created with durable, light fast materials, and has a favorable price tag at the time of purchase you'll almost never go wrong. Simply put, a good watercolor painting today is a good watercolor painting tomorrow. A professionally framed, archival watercolor can be displayed proudly, contributing to your personal enjoyment, visual excitement and joy. It embellishes the decor of your home while it grows in value with each passing year. And no worry about the rise and fall of the stock market. A Financial Planner for a major insurance company, recently used the following example to illustrate his habit of purchasing one or two cups of Starbuck's coffee per day: Average of $15.00/per week x 50 weeks = $750.00/year at 8% COLA for 20 years = $30,000!
Consider the following:
"To
be an artist it is not necessary to ... make a living from our creations.
Nor is it necessary to have work hanging in fine museums or the praise
of critics ... To be an artist it is necessary to live with our eyes
wide open, to breathe in the colors of mountain and sky, to know the
sound of leaves rustling, the smell of snow, the texture of bark. It
is necessary to rub our hands all over life, to sing when and where
we want, to take in every detail, and to jump when we get to the edge
of the cliff. To be an artist is to notice every beautiful and tragic
thing, to cry freely, to collect experiences and shape it into forms
that others can share." - Jan Phillips (from the book, MARRY YOUR MUSE).
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06.
LOW MAINTENANCE. NO RECURRING OUT-OF-POCKET EXPENSES Ever grow tired of cumulative money and time involved in the maintenance and care of your assets? Most of the possessions we accumulate, including those deemed as being necessities, labor-saving, or time-saving devices all seem to slowly take control of our time and pocket book. Bad news. The good news? Under normal circumstances, the care, maintenance and upkeep of a watercolor painting is next to nothing. There is no need for upgrading, maintenance, repair, or service costs. No recurring permit fees, license fees, or registration fees. No fueling, refueling, tuneups, checkups, washing, lubrication, trimming, mowing, fertilizing, edging, or other kinds of maintenance. No scheduling of appointments or trips to the service/repair shop. No canceled appointments or taking a number to wait in line, etc. Watercolor paintings do not require quarterly or yearly upgrading or repair to prevent them from becoming technological or stylistic dinosaurs. Watercolors do not require upgrading, or software investment and upgrading. There are no cables, memory cards, backup drives, paper, batteries, chargers, CD's, DVD's, ink and other consumables, or accessories of any kind to continually cut into one's budget and savings. Unlike much of today's electronic technology, watercolors do not become outdated in one to five years either. And, unlike a newly acquired automobile, a watercolor painting doesn't depreciate in value as soon as you bring it home! Other than an occasional light dusting and simple glass cleaning, there is absolutely no upkeep to a professionally created and framed watercolor painting. And you don't have the daily worry about the rise and fall of the stock market either! |
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07.
FAVORABLE PRICING It is untrue that serious artists sell only through an art gallery. Times change. What was standard business practice yesterday is not necessarily so today. The truth is there are advantages and disadvantages to working with a gallery. Remember, a gallery is simply a "middleman" between artist and patron. Most worthwhile galleries have to charge the artist a 50% to 60% sales commission simply to stay in business! The gallery business is just that, a business. Someone has to pay the overhead, advertising, rent, promotion, heating, electricity, food, refreshments, etc. The gallery must pass along these costs or go broke! When purchasing directly from the artist, the collector often receives a more favorable price line and therefore gains maximum value for the dollar. When there is no gallery commission to pay, an artist can pass along a sizable monetary discount to the collector. The Internet provides a wonderful opportunity for artist and collector to work together to minimize or eliminate overhead. Minimal profit usually means favorable pricing. To the uninformed touring a commercial art gallery, it may seem artists must make a "killing" based on the prices of artwork. Remember that high sales commission. Realize too, that not every painting you see finds an immediate buyer. With few exceptions, most fine artists enjoy only a minimal profit margin. A report published in the United States a number of years ago found less than one-half of one percent of those who list their profession as "fine artist," are able to make a living solely on the sale of artwork alone. This means making a living by selling only artwork, without the aid of additional income from unrelated fields. This also includes art related fields such as teaching art, book sales, workshops, framing, clerking in or managing an art store, etc. Unfortunately, I no longer recall the source of the report. If someone has the source or more a recent source, please email me and I'll post it here. "You
are dealing with something that is highly subjective, with an audience
that is primarily visually illiterate in a period of time that is predominately
recessionary in a market that is discount-oriented. You just take those
four factors alone and ask me if I'm crazy ... I would say that running
a gallery with the idea in mind of making money on sales in today's
world is probably one of the most difficult occupations to have."
- Charles Miller, Gallery Owner
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08.
INVESTMENT, VALUE APPRECIATION & INFLATION HEDGE By most financial standards, watercolor paintings are generally considered hard asset, non-liquid, "collectibles." Quite frankly, if the only reason for purchasing an original watercolor is investment value with the intent of monetary appreciation to the point of achieving maximum profit, one had better be very well educated in art, art history, financial planning, and as many other related financial and art areas of expertise as possible. It might be wise to remember, most of what are considered truly valuable, private art collections were begun for reasons other than monetary gain. Collectors often - and rightly so - say, "The love of art came first." Others give advice like, "You better love it [art] because you won't make money on it." Still, if history is any indication, a good fine-art watercolor painting, rendered by a serious, qualified, professional artist will more than likely appreciate in value over time. This would seem true if for no other reason than inflation* and the normal rise in the cost of living index. Try it yourself. Check the Cost of Living Index at THE WOODROW RESERVE FEDERAL BANK: What's A Dollar Worth http://woodrow.mpls.frb.fed.us/research/data/us/calc/ As an example, type in $200.00 for the year 1970. For purposes of illustration, this might be the street price at which a full sheet watercolor created by a young, promising California artist sold for in 1970. Next, compare prices and see what the replacement cost would be for the same work today. And this is not taking into account the artist's gain in experience and reputation since 1970! On the lighter side, play with this one: Michelangelo was reportedly paid 9 cents an hour to paint the Sistine Ceiling (1508-1512). Anybody want to figure out what the replacement cost would be today? P.S. If you come up with an answer, please let me know (smile). * Historical inflation rates from 1926 through 1998 average 3.42% per year. Source: Stocks, Bonds, Bills and Inflation 1999 Yearbook, Ibbotson Associates. "What would life be if we had no courage to attempt anything?" - Vincent Van Gogh |
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09. FAIR
MARKET VALUE The worth of a painting is certainly not contingent on the number of hours it took to create. So, assuming you like the artwork how does one get an idea of its fair market value or worth? There are probably as many ways to determine Fair Market value as there are definitions. Then too, determining the true value of artwork is somewhat subjective and often partly based on the reputation of the artist. Artist reputation aside, one simple method of determining the worth of a watercolor might be to "comparison shop." Compare one watercolor with another of similar size (objective) and quality (subjective). Fair Market Value can be thought of as the price estimated in terms of money, that a work of art will bring if exposed for sale on the current open market. The price should of course include a reasonable profit for artist and/or gallery. A reasonable amount of time in which to locate an interested buyer must also be factored into the process. Fair Market value is defined under U.S. Treasury regulation, paragraph 20.2031-6 as: "The price at which the property will change hands between a willing buyer and a willing seller, neither party being under compulsion to buy or sell and both having reasonable knowledge of relevant facts." Fair Market Value then, for the purpose of determining a fair and reasonable price for a work of art, might be defined as the most probable selling price in terms of money which a work of art will bring when exposed for sale in an open and competitive market under all conditions essential for a fair sale. Both buyer and seller acting cautiously and assuming the price is not influenced by pressure. When considering a purchase, monetary value of a work of art can be estimated by comparing the work in question with other artwork of similar media, size, quality, region, and artist experience and reputation. This includes works that have recently sold and artworks that are currently being offered for sale, taking into consideration the factors that affect market value. In an imperfect world, this formula is about as good as it's going to get.
and not to make money or become famous ..." - Kurt Vonnegut |
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10.
ART AS AN EDUCATIONAL TOO Collectors often believe art is important to one's personal well being. They understand a need and express a desire to support the arts. It is not uncommon for art collectors to understand they, along with the artist, are part of the participatory act of creation and self expression.
Many parents use art as a way of creating in themselves and their children
a love, understanding, and appreciation of art and culture. What follows are a few quotes that support some of the comments above: the spectator brings the work in contact with the external world by deciphering and interpreting its inner qualifications and thus adds his contribution to the creative act."- Marcel Duchamp that which is best in man: you will find order, balance, truth and beauty. And with it the quickened sense of the search for something greater." - Earl Nightingale |
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