“There are many factors at play that influence a decision about whether to
acquire a work of art.
able to recognise a good example. Many artists have what is considered to be a “best period” and examples of their work from that time will command a premium. The aim should be to acquire a typical example by a well known name from the best period, in good original condition and at a fair price.
Obviously the importance of the artist has a huge influence upon the value of a work of art and also its desirability. There are, however, many examples of works by well known artists that are difficult to sell. It is easy to fall into the trap of buying a picture because of the name and being disappointed to discover that it is a poor or untypical example.
There is also the potential to add value. If crucial information about the picture is missing, such as the identity of the artist or subject then there is obviously the potential to add value. Adding value can then hedge against any unexpected downward movement in the market. It can also be possible to add to our knowledge of a picture and consequently increase its value by discovering more about its provenance.
Provenance is the history of the work from the time of its creation to the present day including records of ownership, exhibitions and any publications that it might be included in. Records of any dealers that have handled the work are also vital. A good provenance will always support and will sometimes prove the attribution.
Another golden rule often repeated is that “you cannot fail if you buy quality”. Quality has been defined as “the standard of something as measured against other things of a similar kind”. Of course judgements about quality have to take into account both objective and subjective factors. In a painting it has to do with technical ability, as seen in fine brushwork, but for a picture to be of outstanding quality it needs to work on a more subjective level too. More important, for example, is the artist’s ability to capture the effects of light, create atmosphere or capture personality as well as likeness in a portrait. In my view a great artist has the ability to fulfil their own intentions and in particular bring about the response in the viewer that they desire.
There are always numerous works of art on the market which offer the promise of being by a well known artist however the chances of proving it beyond doubt are very slim and the exercise can be very time consuming and costly. The more famous the name the more difficult it is to prove. With most well known names from Rembrandt to Picasso, their works must now have a certificate of authenticity or written approval from the relevant expert or committee, if one exists, before it can sold.
We aim to acquire works that are in original condition. Our conservators cannot put back what isn’t there so we avoid pictures with major paint losses, or thin paint where a picture has been over cleaned. We are also careful about acquiring pictures where the artist has used unstable materials that that will rapidly deteriorate despite the best efforts of the restorer. We also avoid faded works on paper
and tears or thinning of the paper in etchings.
The purchase of an expensive work of art need not be a high risk venture if you take expert advice. Time will tell whether it is a good investment or not, and like most investments there are no guarantees. However be warned; many who set out investing in works of art become so attached to their investment that they become collectors.
”
A typical evocation of modern urban life by Laurence Stephen Lowry RA (1887-1976). The subject is Albion Mill, Pendelbury, painted in 1941. Pendlebury is four miles north of Manchester city centre and Lowry’s home for forty years. Oil on panel 13 3/4 (Private Collection, acquired through Atelier Limited).
x 10 inches.
Since 1997 Jonathan Voak has been Director of the fine art dealers, Atelier Limited. Based in Jersey but also operating in London, the company deals in fine 17th-20th century oil paintings, watercolours, drawings and etchings. Jonathan was formerly a senior curator with the Victoria and Albert Museum and Head of Apsley House, the Wellington Museum in London. Working with his wife Colette and assisted by former V&A colleagues, Jonathan acquires high value works of art for clients and the company issues fully illustrated catalogues of pictures for sale. Catalogues are available by request.
Jonathan & Colette Voak, Atelier Limited Le Bourg Farm, Le Grand Bourg, Grouville, Jersey JE3 9UY
Tel: 01534 855728 • Mob: 07797 729231 Email:
art@atelierlimited.com • Website:
www.atelierlimited.com
20/20 Finance & Investment Page 89
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