Wednesday, September 06, 2006

Pink Dolphin on eBay

Pink Dolphin is listed on eBay too. I wonder if an art dealer would consider this adding or detracting from the value of listing Kawasaki Krump with it?

Cash For Canvas. New Yorker article about art investment. This not too long an article and quite insightful. I highly recommend this one. It highlights the period of time when art marketing well, switched to art marketing. The business of forecasting art prices is, as the economist William Baumol once put it, a “floating crap game.” So the headlong rush to invest in art looks more like a fad than like a rational approach to making money. In some ways, it resembles the boom in Internet stock funds that swamped Wall Street in 1999, when investors were convinced that the only direction was up. Maybe the explosion of interest in art investing is a sign that we are near the top of the market. And buying at the top is, of course, no way to reap a profit. According to the analysts at Art Market Research, the value of European Impressionist paintings has been cut in half since the market for them peaked, in 1990.
Meanwhile, the influx of investors will only make it harder to profit from buying art. La Peau de l’Ours faced almost no competition when it started buying paintings—which partly explains its success—but by 1914 prices had risen so much that it made sense for the fund’s members to cash out. In the end, the more people come to think that art is a good investment, the quicker it will become a bad one.


Gardenia said...

Ha, I'm listing on Ebay too - a new venture - old books. We'll see. Tried selling some art once, it was hidden underneath many ebay layers. Don't think anyone saw it.

Candy Minx said...

Selling on eBay is very difficult. I think it is dependant on the customer hunting. which offers a very satifying experience for the buyer. Which is good ultimately and the secret toeBay. From a friend who has been selling antique posters...which ARE ACTUALLY easier to sell than most art is a tough job. You earn your money.

I don't know, I am really enjoying the process. The Cormac McCarthy book I have listed gets quite a bit of traffic...but the paintings...nada. I just like the whole idea.

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