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ASK THE ARTSPERTS COLLECTING ON A BUDGET www.harmonmeek.com

by Juliana Meek and Kristine Meek There are some options,
Dear Artsperts: depending on the scenario in
which you find yourself:
I was thinking there is the old saying that
1. You have your heart
you should spend two months’ salary on an
set on a particular artist, but
engagement ring. Is there a rule like that
not a particular work - you
for buying fine art? How should I go about
could consider a small work,
fitting fine art into my budget and what
a lithograph, or a study by
should I expect to spend on a painting?
that artist. These are far less
Signed, expensive alternatives. Studies
Budgeting collector also give greater insight into
Dear Budgeting, the artist’s mind since you can
often see changes the artist
There is no hard and fast rule for the is experimenting for the final
amount that you should spend on artwork. work. However, we suggest
However, purchasing art falls squarely within avoiding giclee, also known
your discretionary income. Fine art by artists as digital or archival prints, which are reproductions. Giclee is viewed as a purely commercial
with national and international reputations is endeavor with serious repercussions for the long term value of an artist’s work.
considered a luxury. As with any luxury item 2. You don’t have your heart set on a particular artist, but rather a particular style of an artist.
you should first buy what you like. However, Artists don’t work in a vacuum. They are influenced by one another. You should look for artists
what you like may be outside your budget. who paint in a similar style to the artist you like most but whose reputation is less established and
therefore commands a lower price. This isn’t to suggest you should buy a work by an artist who
is clearly copying the work of another. You should be able to tell the difference between the two
artists even though there are similarities.
3. You have your heart set on a particular work by a particular artist. If the first two options
won’t suffice, your third option is to ask the dealer for payment options. A payment plan over time
may work for your budget. Some galleries may hold the work until 50% is paid. You may find the
gallery won’t charge you interest unless the payment plan is more than a year. Another option is to
try to negotiate on the price. In galleries that directly represent artists the price is set by the artist
and the gallery’s role is to maintain and increase the value of the artists’ work for the benefit of
both the artist and collectors. These types of galleries have very little flexibility on price, but you
know the work came directly from the artist’s studio. Galleries that have a lot of price flexibility
should actually cause you to be suspicious. It may mean they are marking up to mark down.
Some collectors set aside a certain amount each year to spend on purchasing one or two
paintings. Building an art collection can be a life-long endeavor and one you can enjoy and pass
on to your loved-ones as well.

Sincerely,

The Artsperts

Left: “Ca’D’Oro” by Bob Kane, oil on linen, 40” x 50”. Bob Kane was influenced by the French master artists Raoul Dufy, Henri Matisse, and Pierre Bonnard.
Right: “Three Chairs Study” by Will Barnet, watercolor, 9” x 12”, 1993. A Study by Will Barnet is significantly less expensive than one of his oils.

38 Life in Naples | February 2017