ANTIQUES
Warren
talks antiques Riches:
Ask an expert!
A
Art for art’s sake
If you are considering buying an artwork at auction, it pays to
consider three key factors:
• Always buy a work of art because you love it.
• Buy the best you can afford, and don’t compromise on
condition, quality, rarity and provenance.
• Never be afraid to seek expert advice.
Remember that prices can go down as well as up, and it may
often be necessary to hold a piece for a long period before
generating significant returns.
Before deciding whether to buy, be it at auction, from a gallery,
or elsewhere, there are a number of important preparatory steps
to take, and factors to be considered.
For example, the artist is clearly of great importance in
determining price. Is it an artist who already has a considerable
track record at auction, who has already had a number of
exhibitions and whose works have been purchased or loaned
to museums for display? The latter is not essential but is often a
telling indication of an artist’s success. Don’t forget, specialists
will always be happy to discuss the current market for specific
artists and so this is not something you need to research alone.
However, don’t be dazzled by the fact that a painting, drawing
or sculpture is by somebody famous as it is not just about the
artist. Other factors come into play, for example the medium
of the painting. In general, oil paintings are more valuable than
works on paper, which are in turn more valuable than prints.
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ntiques might not be the most conventional way
to make money but, provided that you know what
to look for, they can provide potentially impressive
long-term returns, especially at the moment when
savings interest rates are so poor.
Whether you buy from antique dealers, antique fairs,
auction houses, or boot sales, always, always, always buy
the things that appeal to you directly.
When buying antiques, always ask for discounts, but
remember the dealer has overheads and needs to make
a living!
Always, always ask about damage and/or restoration.
Always, always, always handle the item.
Beware of reproductions, fakes and forgeries.
Buying antiques can be great fun... it all depends on
whether you’re doing it for love or for profit. If buying
collectibles you like and want to keep then there’s little
pressure, but buying to make a profit adds another
dimension, so make sure you know why you are buying.
Auction report
T
his year got underway with a bang for Island Auction
Rooms with a fantastic collection of antique weapons
causing a National stir amongst
collectors. Rare and mint
condition boxed pistols were
flying out of the auction
rooms for £4,000 and
more.
Also the silver and gold
markets seem to still be
faring well with money
being spent on the more
decorative and top quality
items. Auctioneer and director
Warren Riches said “The February and March sales are
the last of our financial year and proved to be the best
in a long while. People seem to be buying stronger than
normal, so if they want it they buy it and bid up!
“The internet sales have gone through the roof, with
the added benefit of buyers around the world being able
to bid live in front of their PCs as the lots come up. It has
captured a new clientele of buyers. We spend two weeks
after every auction packing and shipping out from Russia
to Australia, from Newcastle to China!”