Wise to Art

Sizing up the Modern Art Market

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Buying art online

June 21st, 2008 · 1 Comment

Consumer resistance to buying art on-line is rapidly dwindling. In the past, fear of fraud and unease about disclosing financial information kept people from using on-line facilities. Another issue was the inability to form sound judgement, as many offers in the early days came with poor images and descriptions.

Times have changed, sellers have become professional, people more comfortable and collectors increasingly seduced by the ease of shopping for art on the Internet. There are of course limits to the indulgence, an undetermined maximum beyond which most people won’t go. This ceiling seems to coincide with the 5000 Euro/7500 dollar demarcation that several international art event organisers are using of late to determine the upward limit of what is called ‘affordable art’. It is certain that on-line commerce of art will become trivial in the future and perhaps even dominate this particular segment of the market. Hence, if you are active on this level, it becomes paramount that you can analyse the risks inherent to buying art on-line.

What are the things to watch out for? How to avoid fraud and disappointment?

The venue
Art is sold on the Internet through a large spectrum of sites of varying quality. At the one end throne the art professionals, with dedicated and dynamic sites and well-visited portals featuring select galleries and listings; at the other languish individual artists’ personal sites, often desperately wanting in visitors. In between these two extremes there are generalist venues having assured their share of the marketplace, such as eBay and some well established arts and antiques shopping malls.

Begin your acts of diligence by passing judgement on the trustworthiness and reliability of the venue that you are dealing with.

- Make sure that the venue displays its physical address and that there is real-person customer support that can be reached by phone.
- Try to find out how long the venue has been on-line and what other people think about it.
- Appreciate the quality of the art it promotes.

You should only deal with sites that are physically established in ‘civilized’ countries. This in case you need to file a complaint.

The artwork
Today there is absolutely no reason not to display good high resolution photography showing the proposed artwork in all its aspects. Multiple shots of the work in its entirety, with accompanying and meaningful close-ups, are absolutely mandatory. You must be able to see the work from all sides. The photographs should be compared with the furnished description. The latter must be exhaustive, contain both provenance and technical detail and in general answer all your questions. Take the size of the work into due consideration, misrepresentation of size is a common error when buying art on-line (due to the very nature of buying at distance, the overwhelming majority of works will be small to medium-sized).

The seller
How long has the seller been in business? Is there any feedback from other buyers? Do you have his full particulars? (Address, telephone number, email etc.)

The transaction
Assure that there is clarity about the shipping and its price. You should always demand expedited, insured and tracked shipping. Check the buyer’s return policy. Consider not buying if there is no return policy worth the name. When you are ready to buy, assure that you are paying with means that are sufficiently traceable. Be sure that you have all costs under control and, if you are buying internationally, that you are aware of an eventual exchange rate impact.

There are several ways of finding out what the market says about the sales price asked. In the end, it is what you feel about the work that will give the momentum needed for a purchase. The art market is largely a sentimental market, and a highly manipulated one.

Reception
Check you parcel upon arrival before giving discharge to the carrier. If there is visible damage: make an official and mutual statement conjointly with the person delivering and bring the seller immediately up to date. Unpack carefully, without damaging the original packaging (in case return shipment becomes necessary). Examine the work carefully and make sure that it meets all your expectations. Email the seller to thank and acquit him, or if that’s the case, to tell him that you are not satisfied, while invoking the return policy.

If there is a problem
Know that in ‘civilized’ countries, buying on the Internet is equal to buying in any physical venue and that, if abused, you can go to court with your griefs. This is why you need to treat only with parties that give out their particulars and of whom you are assured of a real existence.

Keeping to these simple rules will make your on-line art buying a serene and rewarding experience.

Tags: Market insight

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