World-Leading Art Market Expert Shares Insights Into ‘How To Collect Art’ With Accessible Paperback

World-Leading Art Market Expert Shares Insights Into ‘How To Collect Art’ With Accessible Paperback
image

Whether it’s an original work by Leonardo da Vinci, a copy, or a workshop painting, there’s no denying that paying more than $450 million for Salvator Mundi to store the oil on panel on a yacht is obscene and absurd. Everyone from Saudi Arabian royals to first-time collectors could benefit from sage advice on navigating the wildly inefficient and unpredictable global art market.

“Investing in art can be lucrative, but this holds true primarily for a select few at the pinnacle of the market, typically artists represented by the same five to ten galleries. The remaining artworks, constituting 99.9% of the available pieces, generally do not share the same investment potential,” said Magnus Resch, a world-leading art market economist, entrepreneur, and best-selling book author. “While purchasing what you genuinely adore is the recommended approach, my book delves into strategies for ensuring you don’t overspend on any art acquisitions”

How to Collect Art by Resch, with an introduction by businesswoman and art collector Pamela J. Joyner, follows Resch’s 2021 book, How To Become A Successful Artist, and Management of Art Galleries (2016), also published by Phaidon and offering a singular perspective on a marketplace that can be intimidating, especially to newcomers. Resch, a lecturer at Yale University who previously taught at Columbia, breaks down the fundamentals to help aspiring art owners build a collection.

At $34.95, the 232-page paperback offers more than a one-time value by empowering prospective buyers with the skills to seek out and buy artworks at the best price, and for aesthetic pleasure and profound fulfillment. Resch conveys complex concepts and variables with a thoughtful and accessible voice amplified by a deep well of research and knowledge while eschewing jargon and insider arrogance.

“I call it responsible buying, the notion that buying art is not just an exchange of monetary value but also a philanthropic act. Far from putting money into an asset, I donate it, knowing that in all likelihood I won’t be able to resell the piece, But by buying it, I am supporting the artist so that she can continue creating art, which in turn inspires her artistic community to continue with this essential form of human creativity,” Resch. “To me, it is a way of doing good, and it comes with an object that I love and a story to tell.”

The United States was the leading art market worldwide in 2023, generating 42% of global art market value, followed by China at 19%, and the United Kingdom at 17%, according to Statista. The global art market is more dynamic than ever, with over 763,000 artworks changing hands, according to Artprice. Still, new entrants face fears and questions in a marketplace that thrives on stirring controversy and celebrating record-breaking sales that alienate most would-be collectors.

For my book, I examined 500,000 artists and their pricing strategies to uncover the key factors that determine what makes an artist a great investment. Our findings revealed that an artist’s success is closely tied to the network of galleries they are associated with. Collecting from this network significantly increases the likelihood of a positive return on your investment. Pricing in this category typically begins at over $100,000,” explained Resch.

I’m fascinated by the creative process and witnessing how artists create their work, and that connection underscores my desire to acquire certain works. Resch clearly agrees.

“As a collector, the artist becomes a crucial counterpart in your acquisition. In line with the concept of responsible buying, acquiring artwork means embracing the emotional essence that the artist presents, along with becoming a part of the artist’s surrounding network,” Resch said. “Therefore, getting to know the artist should be an integral aspect of your collecting journey. Additionally, most artists enjoy meeting their buyers.”

Resch offers sound advice on the core questions a prospective buyer should ask before considering a purchase.

Do I like the work, the gallery and the artist? What institutions has the artist exhibited in? Does the asking price align with my budget? In my book, I introduce a framework to assist readers in estimating price points and assessing the fairness of the asking price,” Resch recommended. “Armed with this knowledge, navigating the art market becomes a more confident and informed experience. It enables you to spend money with a clear understanding of the artwork’s value, ensuring a purchase that resonates with both personal taste and financial sense.”

Calculating the price of an artwork is a multifaceted process that varies considerably, and may not be scrutinized by the buyer. Buying any artwork is an investment, even if the goal isn’t to sell at a higher price at a later date, and moreover, it’s an allocation of funds that works differently than a typical asset class with defined benchmarks, metrics, and risk considerations. Don’t be intimidated when spending your hard-earned money.

In the art market, it’s common for customers to request and receive a 10% discount, especially if the customer opts for immediate payment,” Resch advised. “Discounts are not extended for only a select few highly sought-after artists. It’s important to note that customers typically bear the shipping costs.”

Recognizing the intricacies of any art sale, some people may benefit from working with an art adviser who can demystify the journey and make it a joyful experience.

“Engaging an art advisor can be beneficial for two primary reasons. First, for education: new collectors often value the research conducted by art advisors on their behalf. Second, for access: artists in high demand are often only available to collectors with established dealer relationships and credibility with galleries, which an advisor can provide,” Resch said. “I would argue that you don’t need an advisor if you plan to spend less than $100,000 per year. Exploring galleries, engaging with artists, and discovering new talents on Instagram are integral parts of the journey, and it’s fun.”

Club to hear about nature photography

Club to hear about nature photography

The April 9 meeting of the Grand Canyon Photography will feature a presentation on nature photography by member and author Brad Adams.

The program will begin at 7 p.m. at the Gmeiner Art & Cultural Center in Wellsboro after a short business meeting.

When asked to describe his program, Adams said, “My presentation will concentrate on composition and DSLR camera usage. I will be using my book as a reference and also physical prints displaying specific topics being presented. I have great respect for nature and believe in preserving it for future generations. My hope is to entice the audience to explore the wilds of Pennsylvania with a new view and a new found respect for nature.”

Adams career started with teaching graphic arts and photography at Pequea Valley High School in Lancaster County for 15 years. It was during that time he started his photography business, Brad Adams Photography, primarily photographing weddings and family portraits.

He continued his teaching career at Thaddeus Stevens College in the visual field for 19 years. During that time he developed a passion for nature photography and published a book titled “The Nature of Photography.”

The Forgotten Twin Photographers Who Redefined Mid-Century Style

The Forgotten Twin Photographers Who Redefined Mid-Century Style

We left the middle of the 20th century behind decades ago, but the aesthetic of the time has remained a presence in countless ways — from the continued impact of mid-century modern furniture to the evocative fashion worn by people of the period. When considering that enduring look, it’s also worth discussing the people who brought that aesthetic into focus — literally, in some cases.

In her new book Double Click: Twin Photographers in the Golden Age of Magazines, Carol Kino tells the story of twin sisters Frances and Kathryn McLaughlin, who made names for themselves with their photographic skills, as their work was well-represented in the publications of the time. It’s a fascinating look at the middle ground between art and commerce, with numerous insights into how the sisters helped the form evolve.

Throughout Double Click, the twins’ paths overlap with a host of historical figures, from Benjamin Oliver Davis Jr. of the Tuskegee Airmen to F. Scott Fitzgerald. And some of the small details — including the post-World War II market for mass-market personal airplanes — make this trip back in time rewarding in some unexpected ways. Kino spoke with InsideHook about the book’s genesis, why the twins’ story remains relevant today and the archival research needed to make Double Click a reality.

InsideHook: Double Click opens with the McLaughlin twins being interviewed by Dick Cavett and being given comparable treatment to the likes of Toni Morrison and Federico Fellini. Both of those artists are still revered today, while the twins are likely not as familiar to readers in 2024. How did you first come to encounter their work and decide that they would be good subjects for a book?

Carol Kino: I have a friend who’s a publicist, and she works with a lot of photography galleries. So she told me about a show involving one of the twins, Franny or Frances, and her husband. It was a show of their work and their contemporaries, who were people like Man Ray, Erwin Blumenfeld and André Kertész. She convinced me to write about the show, and she also told me that there was a twin, and the whole family were photographers. So I wrote a couple of stories about that show.

Then at the opening, there was a small gallery devoted to family photos, and I just became completely entranced since they were all photographers. The photos were fantastic. They were also friends with Irving Penn and his wife Lisa Fonssagrives-Penn, so there were a lot of photos of the Penns, photos that Lisa had taken of them. In that show, I met the son of one of the photographers who told me his grandfather had been a famous photographer.

It just seemed like a great story, first of all. Then while researching the original stories, I discovered that there had been many photographer couples during this period, which was fascinating to me — and sometimes the women had been more successful than the men. That also seemed really interesting, too — that they’d been successful and we didn’t know about them today.

Besides the photographers who you mentioned just now, Diane Arbus shows up in the narrative, Gordon Parks has a brief appearance towards the end — there’s this dizzying array of important figures in photography throughout the book.

It was also this really interesting period when European refugees were flooding into America. Americans were already trying to figure out what American art is going to be in relation to Europe. Europe had always dominated America. But Americans in painting and in photography were trying to determine what is an American art, and then these European refugees were arriving, so they were trying to figure this out, too. That was so interesting to me because I’m first-generation American, so I grew up trying to figure out, what’s a real American? I was kind of intrigued by all of these Europeans and Americans asking this question at the same time. 

The subtitle of your books uses the phrase “the golden age of magazines.” How did you determine what that timeframe was going to be like?

I think we kind of massaged the “golden age” for the purposes of the book. I think it’s debatable what the golden age was. It’s probably not right now, with magazines shutting down, but it’s debatable. I think there are exciting things happening on the web. 

I read so many magazines for this book and it was such an exciting time when photography started being introduced into these magazines and there was a different visual look to every issue. Things weren’t art-directed to the hilt. You could do something different every month. Photographers were allowed to take their own creative course. So I guess I think the golden age also went on into the 1950s and the 1960s. But it was really particularly creative during this 1930s, 1940s and early 1950s phase, I would say.

If I remember my art history somewhat correctly, in the second half of the 20th century, there was a fairly sizable sea change where photography began being viewed more as an art form in and of itself. Do you think if that had been more of an option earlier, the McLaughlin twins might have been somewhat better known? If they had had more opportunities to explore the fine art world?

Yeah, maybe. I think it was the 1970s when it started becoming perceived as an art form. I think they were always thinking about art, but I don’t think they necessarily expected what they did to become art. I think fashion photography as art happened quite a bit later, so I don’t know that they would have made the case for themselves making art. 

Franny, the one who worked at Condé Nast, developed dementia. So at the time that fashion photography started becoming considered art, she wasn’t in a position to promote her own work. I think that’s why she kind of missed the boat of being considered a great artist — which I think one could make the case that she is.

In the acknowledgements for Double Click, you thanked a lot of members of their families and extended families. Were the families all very supportive of the project? 

Yes, they were all into it. They didn’t always move at the same pace. I mean, I find when you’re writing journalism, people do call you back pretty quickly. When you’re writing a book — this is not necessarily the family — but I found people often say things like, “Oh yeah, when I go through my attic next summer, if I happen to find those pictures, I’ll get back to you.” So a lot of those people I had to give up on. Everything moves at a slower pace when you’re working on a book.

Kathryn’s family, the Abbes, amazingly gave me the key to their storage space. I was going there with Kathryn’s assistant, Chris. I went there with him in the beginning, and then they let me go there by myself, which was great because there were so many newspaper clippings that I needed to look at in detail, and it was hard to do that when I was chatting with Chris, who’s a really fun person.

The other twin’s archives are still in her apartment, and her grandson lives with them, so it wasn’t as accessible. But, yeah, they made it relatively easy for me to get at everything.

Were most of the archives you were going through familial and personal collections, or were you also going into magazine and newspaper archives?

I had a fellowship at the New York Public Library, a Cullman Fellowship, and not everything was there, remarkably, but the librarians there really helped me. One of the things that I needed to find was the first teen or college magazine, which was College Bazaar. A lot of the magazines had not been digitized, so I had to page through them and scan them for my own reference.

Mademoiselle and Charm are in the New York Public Library, not digitized. Glamour they did not have, so I had to go to the Condé Nast archives for that. I paged through 15 years’ worth of magazines for each of those, I think, which was really overwhelming. But College Bazaar did not exist — anywhere — and that was a real problem that the librarians at the New York Public Library helped me solve. We eventually found it in a library miscatalogued. It was just incredible.

The twins studied at Pratt, which turned out to have had one of the first photo labs in a school in America. I thought I would go to Pratt and say, “So tell me when it started.” And they said, “You’re welcome to go through all the school newspapers” — which had not been digitized at that point. “You’re welcome to go through all the school catalogs. You’re welcome to go through the faculty minutes.” I kept coming up against these subjects that nobody happened to have studied. I was just so depressing and daunting. I had this iPhone that I digitized all of those things with. 

Then I’d call up photo historians and say, “Do you know the history of Pratt?” And they’d say, “Isn’t that interesting? Nobody’s studied that. Isn’t that fascinating?” There was no way to go but forward if I wanted to fulfill my contract and write the book.

You mention in Double Click there was a magazine that was for winners of the contest to find the most talented college students. I was just amazed that there was a magazine with this very limited, very specific audience.

I think that was Smart Girl. I discovered that really early on by going to the Condé Nast archives. I had done research into the Prix de Paris, which was this famous prize that Vogue did. I think it started in 1935. It was a great competition.

There were lots of competitions for college-age girls at that time. The Prix de Paris was the grande dame of all these competitions. Joan Didion did it. Sylvia Plath. I think Ann Beattie did it. A lot of people. Meg Wolitzer, I think. I get it mixed up because Mademoiselle had these competitions, too. But I think that was the one. Jackie Kennedy — Jackie Bouvier at the time.

The person who was managing the archives had done research into that for her master’s thesis, I think. I don’t think anyone had looked at it since then. So in these archives, I discovered this magazine called Smart Girl. I just discovered several issues of this magazine and digitized them with my trusty iPhone, and there was tons of really interesting information in there.

Some of the other details that you share in the book about post-World War II society really floored me. I had no idea that there was a consumer market for private airplanes for commuters, for instance. 

All of this military equipment was being sold in department stores. Jeeps. Not guns, but other, more domestic kinds of equipment. I think Macy’s seventh floor had the airplane department. So the elevator operators would say, “Ladies’ lingerie, planes,” which was so wonderful.

It was this plane that steered like a car. I think they’d been developing it before the war, but then resources had to be diverted to the military. Then, after the war, there was all this money. America wasn’t in a depression mode anymore. Kathryn, the other twin, saved up her money during the war and bought her husband an engagement present of a plane. She said that’s why he married her. So they had a plane to fly between Montauk and all of their different jobs. 

There are also eerie echoes of the present day when you mention that, during that period, the marriage rate was going down in part because people had concerns over money. That felt very familiar.

Yeah, didn’t so much of it seem like today? I thought it was so relevant. And those essays by F. Scott Fitzgerald’s daughter — I loved that essay where she says, “Our profligate Jazz Age parents just don’t know the score, but we do.” She sounded like somebody complaining about her lousy Boomer parents. I just love that part.

You said you wrote a little bit about the sisters before starting work on this book. How much of this milieu were you aware of initially and how much did you have to discover on your own?

A lot of it was discovery on my own. In retrospect, it’s really interesting. As I was doing it, it was kind of painful because there was so much detective work. When I first met Kathryn’s youngest son, he actually turned out to live about 15 minutes away from my parents in California. Later on his mother became a very well-known photographer of children and he had these Better Homes and Gardens baby books that both twins had worked on. I couldn’t believe that his mother had photographed a lot of famous pharmaceutical ads that I’d seen growing up. I couldn’t believe how influential — I mean, those ads were part of my childhood — I just couldn’t believe the important role they played in society without me having been aware of it.

As you mentioned towards the end of the book, there have been periodic upticks in interest in the twins. Is there a hope that this book will also spark another revival and pique more interest in their work as well?

Definitely. I hope that it does. It seems to me that it’s kind of a missed opportunity if it doesn’t. I think it should, especially for the women who did not get any of the recognition that’s due to them.

It was also very interesting, as you pointed out a few times, that they were from much more of a working-class background than a lot of their peers.

They really did come along at a time when the aristocrats had been taking photographs — or people who added aristocratic names to or used their title as photographers. It was a moment when the career girl was being celebrated and these were genuine career girls, who took the subway to work every day, which was not the case for the female photographers who’d come before them.

This interview has been condensed and edited for length and clarity.

Add an Inflated Sense of Joy to Your Digs with Home Studyo’s ‘Blow Up’ Collection

Add an Inflated Sense of Joy to Your Digs with Home Studyo’s ‘Blow Up’ Collection

All images © Home Studyo, shared with permission

One of the drawbacks of balloons or beach balls is that they’re temporary; the helium eventually leaks out or the seams burst, squashing the fun. But Belgium-based Home Studyo came up with a way to add the playful touch of inflatable objects to your home without worrying about the air escaping. Cast in sturdy ceramic, the studio’s Blow Up collection adds a joyful, bouncy illusion to homewares often associated with fragility. Available in five colors, the vases, pitchers, and mirrors have names like “Emily” and “Pierre,” which add an inviting touch to personal spaces and social gatherings alike.

You can add a piece or two to your own collection on Home Studyo’s website, and find more on Instagram.

 

a yellow ceramic vase that looks as though it is made of inflated plastic on a shelf with tulips

a white ceramic mirror that looks as though it is made of inflated plastic laying on a brown mat

a person shown from the knees down pours water from a green pitcher into a plant in a white vase, both objects appearing inflated but actually made of ceramic

five ceramic vases in green, blue, yellow, red, and white that appear to be made of inflated plastic

a blue ceramic pitcher that looks as though it is made of inflated plastic on a cutting board with a sliced grapefruit

a white ceramic vase that looks as though it is made of inflated plastic on a marble-top table next to a chair

a pink ceramic vase that looks as though it is made of inflated plastic on a yellow table with tulips and a person reaching to adjust the flowers 

Do stories and artists like this matter to you? Become a Colossal Member today and support independent arts publishing for as little as $5 per month. The article Add an Inflated Sense of Joy to Your Digs with Home Studyo’s ‘Blow Up’ Collection appeared first on Colossal.

‘I saw hip-hop street style and cowboy culture merge. I felt I belonged’: Ivan McClellan on his images of America’s Black cowboys

‘I saw hip-hop street style and cowboy culture merge. I felt I belonged’: Ivan McClellan on his images of America’s Black cowboys

For a man who spends a lot of time around horses, Ivan McClellan isn’t much of a rider. “The last feedback I got was that I sit on a horse like a sack of potatoes,” he says. “I’m also a big fella, so people always put me on the biggest horse they have, some giant dinosaur of a horse. A fall from that height would be devastating, so I’m nervous. The horse knows I’m nervous. There’s a lot of work I need to do.”

Since 2015, when McClellan first attended the Roy LeBlanc Invitational in Okmulgee, Oklahoma, “the Super Bowl of Black rodeos”, the US photographer’s name has become synonymous with Black cowboy culture in the country.

“It was a culture I knew nothing about,” McClellan says. “I saw young men riding horses around with no shirt on, wearing diamond stud earrings, gold chains and Jordans. I saw women with braids and long acrylic nails riding 50mph. People were frying chicken, barbecuing, dancing … There was gospel music, R&B and hip-hop in the air. It was an incredible, otherwordly experience.”

For McClellan, who grew up in Kansas City but moved to Portland, Oregon in 2011, Black cowboy culture provided a sense of community he’d been lacking. “I saw all these Black folks who were so cool, with hip-hop culture and street style and cowboys – which I loved since I was a kid – all merged together,” he says. “I felt I belonged. It’s changed my life. Finding this subject matter and getting obsessed with it has been the most rewarding artistic journey of my entire life. I’ve made lifelong friendships and it has become part of my identity.”

McClellan’s obsession has taken him to events across the US, from Nevada to Tennessee. His photos have been collected in his new book Eight Seconds: Black Cowboy Culture, named after the time a bull rider must stay mounted on a bucking bull to achieve a qualified ride. Not everyone is happy for the white cowboy archetype to be disrupted, however. “I got a mysterious phone call the other day where somebody said: ‘Hey, is this the monkey rodeo? I want to open a crack booth,’” McClennan says. “There’s a simmering hatred that I have to just ignore, because for as many people who are offended by talking about Black cowboys and Black rodeo, there are 10 times as many who are thrilled.”

As Charles Sampson, the first African American cowboy to win a world championship in professional rodeo, writes in the book’s introduction, the history of Black cowboys has been “all but forgotten. Legendary western figures such as Bass Reeves, Bill Pickett, Stagecoach Mary and Nat Love have been left out of films and history books.”

“I think it’s due to laziness and what’s marketable,” McClellan says. “The Hollywood machine is about getting people to the movie theatre. I love westerns. The archetype of the noble white cowboy is one I love. I just want to expand that and say there’s more going on.”

McClennan, 41, started out photographing weddings, fashion and street photography before immersing himself in Black cowboy culture. He divides his time between photography and a full-time job as a designer for Adobe Lightroom photography software.

He has also become a rodeo boss, having organised the first 8 Seconds Juneteenth Rodeo in Portland in 2023, which is set to return this summer. By working on events such as this, he is hoping to encourage support for Black cowboy culture, which he sees dwindling across the country. “It has a very difficult future,” he says. “It’s super-expensive to get into ranching or stock-contracting, and when you have a population of 35,000 people across America who are Black and participate in western culture, it’s really noticeable that you see fewer each year. I feel a sense of urgency. To lose this culture would be a tragedy.”

Eight Seconds: Black Rodeo Culture by Ivan McClellan is published by Damiani (£40).

Another country: five images from Ivan McClellan’s Eight Seconds

Keary Hines, Prairie View, Texas, 2021 (main image, top)
“Hines is a calf-roper. He has struggled, like a lot of Black cowboys, to support his lifestyle and compete at the level he wants to. He’s the definition of cowboy cool with his swagger, the rope around his shoulder, and two horses that he’s completely in control of.”

Pony Express, Okmulgee, Oklahoma, 2021
“I’m in the arena for this photo, standing on the dirt. These two riders are competing in an event called Pony Express, which is a baton relay race on horseback around the arena,” says McClellan. “I’m too close in this photo, so I’m a little bit nervous. The photo is blurry and technically a mess, but it ended up being the cover of my book, because it’s just got so much energy.”

Cowboy prayer, Okmulgee, Oklahoma, 2020
“This is a Pony Express team called Southside. The beauty of Okmulgee’s rodeo is that it starts exactly at sundown, so the lighting is just perfect all the time. In this photo, the skies are interesting – the sun has just gone down and there’s a pink haze. The riders are about to go and compete, they’re all on horseback and holding hands to pray for their safety. Pony Express is a dangerous sport so this prayer is really serious for them.”

Ja’Dayia Kursh, Oklahoma, 2021
“This is a cowgirl called Ja’Dayia Kursh. She’s got a little bit of dirt on her knee, which is the only indication that she just got bucked off a horse. I love her swagger and her energy. I love that she’s still posing like a rodeo queen, even though she just did something completely badass.”

Dantez and Floss, Okmulgee, Oklahoma, 2020
“Dantez is the man standing and Floss is the one on horseback. They are father and son, and they’re on a Pony Express team called the Country Boyz. I meet them every single year at the rodeo at this exact spot at this exact time. This is where they park, saddle up their horses and get ready for the competition.”

Night sky photography exhibit

Night sky photography exhibit

Photos from Travis Novitsky’s book “Spirits Dancing” explore the wonders of the night sky 

Beginning on April 10, guests at the Mille Lacs Indian Museum and Trading Post will have the opportunity to admire a special exhibit featuring 15 stunning photographs of northern Minnesota’s night sky.

This page requires Javascript.

Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

  

     

Featured Local Savings