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| Water Stop by Martin Grelle • |
It’s
snow and shorter days here in North Idaho (lots of snow). It’s our wake-up call to put one year to bed and welcome the optimism of a new year. One of my goals with this blog, and a staple to my approach in selling Western art is education. I want the people I come into contact with to be as informed as I am. With the research tools of the Internet and the transparency in today's art market, the more a collector knows, the easier my job is because I have nothing to hide. When a collector understands how to value paintings, what
collection factors are, who to keep an eye on, and trusts the people they work with, then everyone benefits. As we welcome 2017, you will want to stay tuned for what I'm bringing to the table this year. From essays on historical artists, updates on current events, strengths and weaknesses in the Western Art market, major auction previews and reviews, tips for managing your collection, and hopefully something enjoyable to add to your morning cup of coffee.
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| Julius Seyler - Buffalo Hunt • |
Let's begin with a brief review of the
overall market for Western art. The Western art market seems to have stumbled along like most of the
major commodity and stock markets. For the year, oil has been virtually
unchanged, the stock market up slightly and interest rates have remained
quiet. That is until Nov. 8th. We’ve noticed an
increase in activity after the election that coincides with the stock market's
rise to all time highs. We can’t say for certain, but it appears that the
attitude change is due to the prospect of lower regulations for many businesses
resulting in a better environment for profits, or maybe we were just all sick
of the election process. Whatever the reason, we like it and optimism seems higher than it's been in years.
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| Tim Shinabarger - Clash of Thunder • |
When
trying to stay on top of the Western art auction world, it’s important to take
the data and peel it back to analyze the details. For example, the
Russell auction in Great Falls reported sales of $7.6 milllion at their 2016
auction. When you look at the overall sale, it was 14 lots or 5% of the
lots that generated 80% of the sale. Scottsdale Art Auction sold nearly
$9 million at their 2016 sale compared to $14 million the year before.
This was in direct correlation to the quality of works that they offered
up. The CDA Art Auction isn’t immune to the competition for quality works
as they didn’t have the usual multimillion dollar items; however, Stuart, Mike
and Pete did a masterful job of keeping the estimates realistic and posted an
industry leading $18.3 million. The Jackson Hole Auction presented a
strong group of wildlife paintings and were rewarded with $8.4 million in
sales. Whether it’s the increased competition, the increase in auction fees,
or a more educated collector, we’re seeing a trend towards private treaty sales.
If you’re selling a piece through auction make sure your reserves are
reasonable, because studies show an average of a 30% decrease in value if your
painting passes at auction. Consider a private sale before you commit to
an auction house and as always choose your auction house wisely.
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| Mark Maggiori - On The Edge • |
During
a recent trip to Santa Fe we are happy to report a very vibrant Western art
market in one of America's great art cities. The galleries were reporting
good sales and saying that the market is attracted to the younger artists that
are trying to separate themselves from the more traditional artists. The
market for the great historic artists seemed very good as it was nice to see
some great fresh to the market works by the Taos School artists. We came
home with a few gems that we are excited to offer for sale.
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| Andy Thomas - 3 Shots At Midnight • |
There
seems to be a pocket of weakness in the market for older more established
artists. Their price-points tend to be higher, and the re-sales that are
coming out at auction and on consignment are growing fast. The trend can
be contributed to the length of their careers and the aging of their collector base. Some artists are having a hard time competing with
themselves. If they are not active with a gallery, it only seems to
intensify the discrepancy in price.
It’s
great to see some of the contemporary artists that are pushing the envelope
find so much success. There’s a demand for styles that are unique and
collectors are finding good value in some of these emerging artists. In
the historic market, there seems to be strength in our favorite Northwest market. Names like Paxson, Seltzer, and Fery have strong collector bases,
and works by William Standing and Blackfeet works by Julius Seyler have been selling as
fast as we can acquire them. Of course, there's always a demand for C.M. Russell works.
Stay tuned as I'm currently working on a new project that I think is going
to be educational, beneficial and a bunch of fun for our clients. Have you ever been to the incredible Quinn's Hot Springs in Paradise, MT?
2016
marked my gallery's 30th anniversary, so if you need help liquidating any of the pieces
in your collection, give our proven track record a shot. That
will make room for you to pick up one of the great new works we just got into
the gallery…
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| Michael Cassidy - Apsaalooke • |
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| William Standing - The Challenge • |
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| Colt Idol - Fresh Light • |
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