Art Auctions: To those who bought Art

[bhopal21]

I'm also in the camp that says "buy it if you enjoy it and can afford it ... but not for investment reasons." No cruise line is "losing" money selling these pieces at the low prices many go for. This is clearly a business. That's why I'm a bit suspect of the earlier poster who says they sat next to people who were buying large numbers pieces to sell in their gallery. Art is a very difficult item to resell at premium prices ... and has been even in "good" years. If you want to try to check the investment value of what you've purchased, simply try to sell the piece. All that said I still say "if you like it buy it and enjoy it ... just like you do with other things you purchase to make yourself happy!!!

 

Exactly! If you like it and want to keep it, buy it.

 

To those who buy and then get home and "appraise" it on the internet, try and sell the piece and you will receive a true appraisal.:D

 

Mike:)

[chipmaster]

Exactly! If you like it and want to keep it, buy it.

 

To those who buy and then get home and "appraise" it on the internet, try and sell the piece and you will receive a true appraisal.:D

 

Mike:)

 

 

Everyday I walk by what we bought; enjoy the pictures and the memories it brings back of a special vacation. I for one have NEVER checked what I could have bought it for or what it would be worth now as I know what I might find:eek:

 

Come on if they weren't making a fancy $ why would they be doing actions daily and offering free champagne ;)

[unboringuy]

CatainRon:

 

Interesting that you mention Tarkay and Patricia. We are big fans of Tarkay, and we have several of his pieces; lithographs, hand embellished lithos, and a couple of originals. You used to be able to get Tarkay on Princess, but the story goes that he got upset that they were featuring Patricia (who he considers a knock-off) and he signed an exclusive with Park West (who does art auctions on all ships except Princess).

 

A couple of cruises ago we bought several pieces of art on the NCL Dawn, including a few Tarkays. I guess the auctioneers liked us (or, more likely our $$), because they also gave us an autographed book including plates (ie, high quality photos) of many of Tarkays pieces. That was a nice touch.

 

We buy pieces that we like, and don't worry about appreciation or depreciation. That said, we have purchased pieces from artists who have died (Zamy Steynovitz, died unexpectedly in his 40s) and those pieces have appreciated dramatically.

 

Buy what you like, and you'll never be disappointed.

[Arwenmark]

I bought three Tarkay's on my last NCL cruise along with another Tomasz Rut which is my favorite.

My First Rut Giglee I bought for $1875 I beleive several years ago, is now appraised at $5700. At least for replacement purposes.

On this last NCL cruise I spent about 5K on pieces I think. I like Park West and have had good luck with them, for a while NCL had someone else and they STUNK.

I have not cruised Princess in years now, but do have one coming up next year.

[TM]

Over the past 7 years or so we have attended almost every art auction held on the ship. Our first auction we just happened upon, we were coming back from a lecture on traveling to Alaska. We heard the art auctioneer getting the crowd all riled up so we stopped by to see what was going on. We were hooked! We have learned so much and have purchased so many beautiful pieces of art. To date we have 17 pieces of art ranging from Thomas Kincaid to Martiros. Guy Buffett, Nechita, Bill Mack, Godard, Shvaiko, all grace our walls as well as a few lesser known artists. We buy because we like what we see, it is a wonderful memory of our cruise and has added so much character to our home. Our biggest problem now is we have run out of wall space, and I like what I have too much to take it down.

[TomCruises]

Park West no longer has "land" auctions!

I have participated in an art auction sponsored by Park West Gallery during my last travels and purchased art. I was drawn to the artwork because I "liked" it, therefore purchased it!

Buying art is a "personal luxury" not an investment.

[unboringuy]

PN,

 

Park West does, indeed, still have land auctions. They come to my hometown at least twice a year and conduct 2 day art auctions at the ballroom of a local hotel. I believe they also conduct auctions at their headquarters in Michigan, but it has been a couple of years since I recall seeing a notification regarding one. Those typically are in conjunction with a showing of a specific artist's work.

[livefree]

To any responsible organizations, these art auctions would be an embarrassment. They are certainly drenched in fraud when they aren't outright criminal, and the auction companies have been sanctioned many, many times by the legal authorities.

 

I think many on this board have the right attitude: If you like something and will enjoy it for the price, then buy it. But nothing sold there is a good investment, or it wouldn't be for sale week after week after week after week.

 

My real question for Princess is: What part of the good marketing and PR handbook leads to you think systematically misleading customers is a good practice?

[love2bonboard]

I bought three Tarkay's on my last NCL cruise along with another Tomasz Rut which is my favorite.

My First Rut Giglee I bought for $1875 I beleive several years ago, is now appraised at $5700. At least for replacement purposes.

On this last NCL cruise I spent about 5K on pieces I think. I like Park West and have had good luck with them, for a while NCL had someone else and they STUNK.

I have not cruised Princess in years now, but do have one coming up next year.

 

For sake of investment purposes and insurance, did you have to get them appraised? I raised my home insurance when I spent a sum of $ on my new art, but I'm still not quite sure if I need to get them appraised (since the value goes up yearly). Any advice?

[Times Prince]

We have bought art onboard ship because we liked it, and then also have kept up on prices by comparing prices at reputable art dealerships online. So far of the art we have purchased, which have all been through Princess Global Fine Arts (NOT Parkwest), none has decreased in value. Comparing prices onboard for similar types of art from the same artists, we have seen some art increase its sales pricing from $2200-$2400 to $3000-$3600 range. Smaller limited edition framed prints <$300 seem to stay pretty constant in value, increasing maybe in the +$20 range. Some artists are difficult to find online, but when I do, I find the price I paid is a fair price.

 

With one exception we have not bought art as an investment. But as an investment it has held its value.

 

I have seen signed framed limited edition Behrens prints onboard for about the same prices as framed posters of the same pictures at a major department store.

 

Price aside, I agree with the recommendation from the auctioneers - buy art because you like it. I smile each day at the artwork on the walls of our home. And always consider whether the amount you pay is something you can afford.

 

Some people like to use their money for art, some choose just to donate it at the casino. The art lasts somewhat longer...

[Times Prince]

For sake of investment purposes and insurance, did you have to get them appraised? I raised my home insurance when I spent a sum of $ on my new art, but I'm still not quite sure if I need to get them appraised (since the value goes up yearly). Any advice?

Our home insurance will only cover the value of the art at what we paid, or by a recent written appraisal. Some appraisals, however cost 10-20% of the value appraised, and finding competent appraisers can be an issue in some parts of the country, especially for modern artists.

 

An example is that I cannot even find gallery that has Martiros in Texas - the nearest was in New Orleans. So finding an appraiser might involve some preliminary work to see if they are familiar with the artist.

 

With the appraisal fees you might want to wait until the fair market value (e.g. from art dealers, not EBay) has increased enough to warrant paying the fees.

[captainron]

Hi Folks,

I just recently upgraded my household inusrance policy, but Princess paper work only details the auction price paid for the artwork. Purchases from Park West on RCCL's EOS were also accompanied by paperwork indicating the appraised value of the artwork purchased.

 

Our insurance agent/company advised that in order to insure them at market value, they would require written appraisals, and I really do need to insure the Tarkays, Martiros and Patricia works. Has anyone ever tried to find an art appraiser? I think they're few and far between.

 

Ciao for now!!!

[luv2travel2beaches]

 

Some people like to use their money for art, some choose just to donate it at the casino. The art lasts somewhat longer...

 

Oh my, that is very well said!!! I couldn't agree with you more. We don't spend our money on the alcohol or casino, but we really enjoy the picture we just bought and we will continue to enjoy it for a long time. Plus, we could have easily spent just as much for a picture in a store around here and it sure wouldn't have been a limited edition and signed by the artist.

[jetwet1]

I/We are firmly in the buy because we like it group.

 

We have only bought one piece whilst on a cruise, a Godard, we had been looking at them before the cruise and the price they were selling for was about $100 less, so the wife got an anniversary present.

 

On a side note, we were told we were buying 1/300, the painting we got was 1/1000 and of course idiot that I am I had not checked that the paper work said 1/300, after a little go around with Princess, we came to a solution, we won't buy anymore artwork on board their ships :D

[vette]

I have attended the art auctions on every cruise I have been on. I enjoy seeing the different styles and have fallen in love with the style of Igor Medvedev (don't know if his work is available on Princess). I have purchased several pieces of his work and each Christmas my DH has one framed for me. I haven't spent a lot of money but I really, really, enjoy the artwork now hanging in my home. Last cruise I also bought a small piece which reminded me of Tahiti (not sure of the artist's name) and I get to look at it every day, and dream about November when I will be returning there.

 

Vette

Edited February 27, 2009 by vette

[jagsfan]

I answered trivia questions several years ago on Carnival and won my choice of 3 out

of serveral prints. Paid 8.00 for shipping and handling for each. They came in wonderful

mailing tubes......really good ones, probably worth the 8.00. I had one framed, actually

an odd piece with two masked people during Carnivale in Venice. Everyone who visits

comments on that one picture.

My brother is fortunate enough to have two Behrens originals.....large paintings done on

vacation on the east coast of the US....vastly different from most of his works.

I'd be shocked to see any of his originals for sale on a cruise ship, but prints, lithographs

and giclees, yes. The chances of realizing a profit from any of them is slim to none,

but the joy of looking at them, and the memories of where you obtained them.....priceless.

[Times Prince]

My brother is fortunate enough to have two Behrens originals.....I'd be shocked to see any of his originals for sale on a cruise ship, but prints, lithographs

and giclees, yes. The chances of realizing a profit from any of them is slim to none,

but the joy of looking at them, and the memories of where you obtained them.....priceless.

There was at least one Behrens original on board Emerald Princess our last cruise - out of my price range, but nice to look at.

[SJSULIBRARIAN]

On a 2004 South America Cruise on the old Royal Princess, we faithfully attended the art auctions. We bought an original Wyland which we love. Have been to a few auctions since then but have found nothing we like as much as that first piece so we don't attend any more. Our walls are covered, have no more space, and would never think of buying for investment purposes. That type of investing is not for us. For others it is fine but not for us.

[Arwenmark]

For sake of investment purposes and insurance, did you have to get them appraised? I raised my home insurance when I spent a sum of $ on my new art, but I'm still not quite sure if I need to get them appraised (since the value goes up yearly). Any advice?

 

Yes I did get them appraised and do every two or three years.

 

Also to the other poster, Park West does still have land auctions I have attended several in th Boston area.

[ssbeagle]

When I first started attending the art auctions I didn't like the auctioneers very much and even got into an argument with one about a particular artist who happens to have a gallery where we live. The prices at that time were way above my head. Well, the last cruise we were on I actually purchased my first piece from the ship as I feel I got a fair deal on it. We had been to the artist's gallery in Maui before I bought the art and priced his pieces there. The only thing I think is a bit high is the premium Princess charges. I received my picture in the same frame it was in on board ship and I really like it. Besides the auctioneer was really good and she sold a lot of art on that cruise.

 

One thing about art is unless you are a serious collector, you should never purchase it as an investment. Buy it because you like it.

[captainron]

Hi,

I believe the Venice Carnival piece you're mentioning is "Rigoletto and Gilda" by Los Angeles photographer Weldon Brewster.

Like yourself, have had many positive comments about this piece.

 

Ciao for now!!!

[love2bonboard]

I answered trivia questions several years ago on Carnival and won my choice of 3 out

of serveral prints. Paid 8.00 for shipping and handling for each. They came in wonderful

mailing tubes......really good ones, probably worth the 8.00. I had one framed, actually

an odd piece with two masked people during Carnivale in Venice. Everyone who visits

comments on that one picture.

My brother is fortunate enough to have two Behrens originals.....large paintings done on

vacation on the east coast of the US....vastly different from most of his works.

I'd be shocked to see any of his originals for sale on a cruise ship, but prints, lithographs

and giclees, yes. The chances of realizing a profit from any of them is slim to none,

but the joy of looking at them, and the memories of where you obtained them.....priceless.

 

We just bought an original Behrens. We met with Mr. Behrens (very charming man)...he even gave us a beautiful book of his works (valued at $100.00) since we bought his painting. We bought the Isles of Capri #3. I can't wait to hang it up (we are moving back to the USA in August and will wait to hang it when we get into our new home). We also bought an original Godard (LOVE HIM). When I started this post, it wasn't really meant to be a post on using the art as an investment, but that is the direction it has taken. I just classify it as an investment so I make sure I have it insured properly and so I can note the $ somewhere in our budget sheets. But no, I have no plans on selling any of them. Thanks for your comments...I enjoy reading about what other people bought.:D

[newmexicoNita]

art auctions on cruise ships are NOT going to offer rare art or investment pieces. Those pieces would be in museums or in auction houses under very strict controls, not sitting out where they could be damaged by liquids, light, humidity, etc.

 

Do a search on these board about art auctions; you will find that some people are pleased with their purchases but many are not. As I have stated in a previous thread on this subject, the auction people get A LOT less friendly when I asked for certificates of provenance - a sure sign that something was amiss.

 

My degree is in Art History, I write the arts and cultural calendar for my local public radio station so I have some empirical knowledge in this area and thus never purchase "art" aboard cruise ships for the lack of provenance documents and because I support local artists in my own metro area.

thanks for the good info, I have always looked at it this way, if you see something you really want, go for it, just like buying jewelry when traveling, if you think you are getting a truely good investment, you will probably be disappointed..

 

Nita

[TomCruises]

Sorry folks! I'm reading a quote direct from Park West "We no longer hosts public land auctions in cities across the US and Canada"! If you would like to purchase art on land, contact them directly.

As it pertains to insurance for your great works of art,many insurance policies cover individual items up to a value of $2500 (for example). Save your receipt and you'll be fine. Unless you have spent an enormous amount of money on a piece of artwork, your probably spending more on the annual insurance premium than the increase in value.:)

[Drummond Creek]

For sake of investment purposes and insurance, did you have to get them appraised? I raised my home insurance when I spent a sum of $ on my new art, but I'm still not quite sure if I need to get them appraised (since the value goes up yearly). Any advice?

 

What we have done is keep a binder of all of the art we have collected. It includes a photo and any receipts for each piece of art. I also update it from time to time (when I can find them) prices off of the internet. The binder has grown to two and keeps expanding. I showed it to my insurance broker and he said it was exactly the right proof to have in case of a claim.

 

Remember not to keep your records at home. The most likely reason for a claim is a fire and it doesn't help if the binder burns up too! I keep mine at work.