That’s an oxymoron.
I was reading Hoogrrl and below that awesome picture of the Dissident Display boys and me on a fried egg, is a comment:
- John D. said…
- I like the idea of collecting up-and-coming, or already-sort-of-there artists. I do some of that myself, and like you [Hoogrrl], I think about the future market value of the work. To that end, are you aware of any readily accessible auctions or other secondary markets where such works are bought and sold, hopefully for more than the was previously paid for them?
There is not a secondary market for emerging artists. Galleries and dealers try their hardest to prevent this from happening; it can ruin the career of a young artist. Most invoices include a clause that entitles the gallery first right of refusal if the collector decides to resell the object. Some people, who are not serious collectors and think they’re being a clever specullector, will buy and then try to quickly flip the work in an auction or other public domain. Doing this will get you blacklisted and the gallery, dealer and artist will never sell to you again (and trust me, we find out).
It takes time to develop a young artist’s career and committed galleries do this by developing different structures; for example, the price structure is dependent on published reviews in respected media (Art in America, Art Forum), the right curator including them in a group or museum show, a taste-maker collecting the work, etc. So by exposing the artists early on in their career to a secondary market makes all of the above difficult to achieve. Look at what Saatchi did to Sandro Chia … (obviously there is a huge scale difference in that comparison but it’s an interview everyone should have read if they haven’t already).
Back down to our scale, nobody wants to see a young artist they collect, their newest acquisition, in some random regional auction in New Jersey.
My suggestion, buy what you like and enjoy it. Spend time getting to know the artists you collect. By buying their work, you are providing them with a paycheck and supporting their career (1). Begin a relationship with the gallery who represents the artist, they in turn will develop a relationship with you and offer perks such as a price courtesy or a private viewing of new work (3). Soon you will meet others who also share your passion for work by that artist and they won’t sell too early in NJ either (10).
These are all benefits of collecting emerging art and there are at least 14 new friends to be made in the above interactions!
But if you need to resell before “it’s time” (mid-career or established, think years) go to the gallery you bought the work from. They will either buy it back or use one of their many outlets to sell it for you – it’s the best way to keep your respect and all those friends I promised you.