Questroyal 2009

A Comprehensive Analysis of the Investment Potential of American Art ART vs. STOCKS AND BONDS bond performance. Our publication Art vs. Stocks and Bonds was widely distributed and stimulated thought and conversation about including art in a diversified portfolio ( fig. 6 ). I discovered that both new and experienced collectors were reluctant to ask questions about collecting. Many did not feel comfortable reveal- ing what they did not know, and I understood the feeling. Others were simply not aware of what they didn’t know. In order to address these issues and to have a resource for first-time collectors, we produced The Collector’s Series ( fig.7 ). Issued in six parts, it covered topics related to begin- ning and maintaining a collection. Each of the six brochures explored a specific theme and pro- vided opinions and advice from leading indus- try professionals and experienced collectors. It considered themost basic question:Why collect? The gallery world was discussed and the fine points of connoisseurship evaluated. Technical aspects, such as condition and conservation as well as framing, were covered. The final issue focused on the value of American art. Collectors continue to comment on the utility of the series, and several institutions and museums have requested extra copies for distribution. Most recently, we developed the concept of a survey as a means to assess the desirability and, perhaps, the value and collectability of various paintings. We selected three paintings of equal value and submitted images to one hundred of our most active and experienced collectors. They were asked to select the painting that represented the best value. The results were posted on our Web site, and the percentage of the vote each painting received could be viewed by collectors. Interestingly, the second-place painting sold almost immediately. This is an amusing and unusual approach but one that may provide valuable clues to connoisseurship. Several more surveys are scheduled, and we are seeking ways to provide even more valuable insight. The Worst of Times or the Best Time? So, here we are in the throes of a great recession, an economic plague nearly two years in duration. Most dealers assumed an abundance of paintings It’s not wise to lose faith in this nation’s great resiliency. This is America—survivor of the Revolution, CivilWar, Great Depression, social injustice, and two world wars—and through each crisis, no matter what the magnitude, we have risen and prospered. Recovery is inevitable; let’s not be paralyzed in the present but commence a course of action to be best positioned for the future. — lms, spring 2009 fig. 7 Collector’s Series , 2008 fig. 6 Art vs. Stocks and Bonds , 2007