{"id":236,"date":"2009-07-25T09:23:15","date_gmt":"2009-07-25T16:23:15","guid":{"rendered":"https:\/\/barbaraguggenheim.com\/bg\/?p=236"},"modified":"2025-11-01T13:17:12","modified_gmt":"2025-11-01T20:17:12","slug":"the-art-of-the-deal","status":"publish","type":"post","link":"https:\/\/barbaraguggenheim.com\/bg\/the-art-of-the-deal\/","title":{"rendered":"The Art Of The Deal"},"content":{"rendered":"

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Barbara Guggenheim<\/strong> offers\u00a0hints on how to benefit from\u00a0an uncertain art world.<\/p>\n

SINCE LAST FALL’S MARKET CRASH, I’ve\u00a0been swamped with calls from art collectors\u00a0seeking advice. Buy? Sell? Hold? And more\u00a0than once I’ve heard, “If only I’d bought the\u00a0painting you offered me last summer, I’d have\u00a0lost less in the market and I’d have something\u00a0beautiful to look at.”<\/p>\n

The art world isn’t immune to the plunging\u00a0economy, but a seller’s market has turned into a\u00a0buyer’s market, and savvy collectors are seeing\u00a0this as a period of opportunity.<\/p>\n

The big change for collectors is how art is\u00a0being sold. For years, auction houses had a lock\u00a0on the market because they offered sellers high\u00a0guarantees (the sum promised, whether or not\u00a0the work sells). Last year, guarantees cost the\u00a0houses millions, so they’ve cut back on their\u00a0offers significantly. If a seller can’t get a guarantee\u00a0from an auction house and doesn’t want to\u00a0risk the piece being branded a turkey if it fails to\u00a0sell altogether, he’ll turn to a dealer instead.<\/p>\n

In the past, buying from galleries was just as\u00a0hard as dealing with the auctions. Your chances of\u00a0walking into a contemporary art gallery and getting\u00a0something from a hot artist were nil. Waiting\u00a0lists were a kiss-off. Now, with many buyers sidelined,\u00a0you’re more likely to get what you want for\u00a0less, but you must choose carefully. Today’s hot\u00a0artists may crater with the financial market and\u00a0never come back.<\/p>\n

To sum up, it’s a buyer’s\u00a0nirvana out there, so take\u00a0advantage. Most great,\u00a0once-in-a-lifetime works\u00a0continue to command premium\u00a0prices, but\u00a0expectations have been\u00a0lowered across the board. Panic\u00a0and highly motivated sellers\u00a0present unique opportunities.<\/p>\n

Invest selectively, and you and\u00a0your collection will prosper.<\/p>\n","protected":false},"excerpt":{"rendered":"

Barbara Guggenheim offers\u00a0hints on how to benefit from\u00a0an uncertain art world. SINCE LAST FALL’S MARKET CRASH, I’ve\u00a0been swamped with calls from art collectors\u00a0seeking advice. Buy? Sell? Hold? And more\u00a0than once I’ve heard, “If only I’d bought the\u00a0painting you offered me … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,11],"tags":[],"class_list":["post-236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-art","category-magazine-articles-by-barbara"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t