Just noticed Over the net's latest A2C post, and remembered this gem from the New York Magazine that caught my eye last week ....
Erica Orden writes: "Let’s be clear: Buying art is always a luxury, and especially right now. That said, if you’re sitting on a little money and craving a little beauty, now may in fact be a good time to buy."
Ooh, I have a little money Erica. What should I go for?
An under-valued Frank Stella (est. $1.2-1.8 million) (yes - American $)
A lesser Bridget Riley (est. $50,000-70,000)
An Eric Fischl (est. $800,000-$1.2 million) ("if you take a mid- to long-term perspective, his market price has to be adjusted as going up,” says Simon de Pury)
An under-performing Donald Judd (estimates starting at $300,00 and topping out at $800,000)
So, Erica, turns out I missed those vital words bedded in the midst of that one long para; my idea of "a little money" differs from yours ("several hundred thousand") by a factor of of a couple of zeroes. Maybe next time.
Also in this series:
Relative bargains you can't afford
Predicting the art stars of the future
What you can get with $10,000