Contemporary Art Auctions
Having a feel for the modern market is essential to be successful at understanding comtemporary art auctions
You have noticed contemporary art - it is all over the place. But do you know what is of value when you go into an auction? Chances are, if you are like most people, you are befuddled when it comes to bidding on contemporary art at an art auction. Contemporary art usually gives you the impression of Andy Warhol and soup cans. But it is much more than that. And remember that the contemporary art of today is the classic art of the future.
At one time, impressionist painters were considered contemporary artists. They were branded as rebels in their day and no one wanted to purchase their art. Impressionist art today is worth millions of dollars. Not only that, it is considered to be classic art. Just as someday, contemporary art will be considered in the same manner.
In order to purchase contemporary art at an art auction, look at something that you like. There is an old saying "I do not know art but I know what I like." This should be your mantra when you are considering a purchase at an contemporary art auction. You should make sure that anything you purchase is because it is something that you like instead of something that you think will be of value.
Art speculation is more difficult than trying to win money at the racetrack. Spending thousands of dollars on a painting that you think may be worth money someday that you absolutely hate is not a wise investment at all. Spending thousands of dollars on a painting that you absolutely love, however, is an investment. It is an investment in beauty and in yourself and may or may not turn out to be a monetary investment. One never knows.
The phrase contemporary art was coined in the 1960s. At this time, the artwork was considered horrific and ugly. Most people did not think that it was worth anything and were outraged to see this work being displayed in the galleries. Most in the art world believe that the public is 20 years at least behind in the times when it comes to art. The art world seems to move in a different motion than the rest of the world. Today, the art from the 1960s is recognized as genius. Artists such as Warhol are considered to be geniuses. His work is valued in the millions.
Art critics disagree when it comes to what defines real art beauty and what is junk. While some critics can accurate call the shots, so to speak, when it comes to what is considered valuable and what is not, and others hold more weight than others, critics have often known to be wrong. It is more important to know what you like and pick art that will grace your home instead of worrying about value.
If you go to an contemporary art auction, take a look at the art that is being offered and understand the value. You should have some appreciation of art in order to really understand the concept of the value of the paintings and other artwork that is being offered at the auction. You are better off to go to a few auctions and understand on what you are bidding. If you are planning on investing in new contemporary art, you should make sure that the art in which you invest is something that you enjoy looking at and want to have in your home.
Even after 15 years of watching art auctions, you will still be surprised by new developments in the industry