Of course, we all are looking to next week as the culmination of our yearly art season. There is no buildup, and a quick letdown. It’s like holding your breath until just before passing out. There are many livelihoods tied up in the art frenzy, and it’s usually an optimists viewpoint. After all, would anyone predicting a negative result be allowed any press?
Buyers more cautious, but art prices head up recovery road
Art consultants and gallery owners agree that while buyers tend to be more cautious now than in the heady days before the recession, art prices are slowly recovering.
“There is always going to be a balance between new, young collectors and more seasoned buyers,” said Dora Valdés-Fauli, principal of Dora Valdés-Fauli Art Services and director of Artéamericas, a major Latin American art fair that takes place in March.
“But in general, people are buying more carefully in the art market, which has been affected by the economic downturn in the same way as everything else has been.
“It’s logical that the way we make decisions has become more conservative, whether we’re talking about the art market or real estate.”
Ramon Cernuda of Cernuda Arte, a gallery in Coral Gables specializing in the exhibition and sale of Cuban paintings, said caution is evident in the kinds of works that are selling.
“It depends on the pockets of the buyers,” he said, “but all else being equal, people will go for the better-quality works or better-known periods or series of an artist.
“We see much more action with established names and recognized masters, and less in areas of emerging or mid-career contemporary artists. Nineteenth-century art and Old Masters have done fairly well.
“If you have quality work that you are offering at a competitive price, you will make the sale.”
Among those who can afford major works, “it’s not a time for mediocre-quality art,” said Evelyn Aimis, a private art dealer based in Miami. “For museum-quality art — a Picasso or a Monet — there are lots of buyers.
“There are also lots of young collectors and new collectors, and they want young artists’ work that is reasonably priced.
Today, these words are just that, a prediction. There will be many things to see and discuss over the next week. Check back often as we’ll do our best to provide some interesting reading.