MARKET REPORT & ADVICE

PART I - ADVICE ON ART
ADVICE FOR FIRST-TIME BUYERS

If you have got this far you are probably already convinced of the benefits of buying an original painting. If you harbour any doubts that they could enrich your life just talk to any serious dealer or collector and note how genuinely enthusiastic they are. So here are a few hints on how you should go about buying that first serious painting.

1 Be clear in your mind why you are buying a painting.

This is vital in order to make the right choice. Is the painting intended to fill a particular gap on the walls of your home or office? Do you want a painting with some personal significance? Are you concerned about investment, or at least re-sale value? Do you simply want a picture you like? Try to be clear about your priorities.

2 Decide whether you are decorating your home or starting an art collection.

Even at this early stage you will have an idea whether you are the type of person who is bitten by collecting bugs or are simply trying to make you home look good. Thus you should decide from the start whether your first purchase should be by a relatively unknown artist, whose work it may prove impossible to collect but which may seem 'better value for money', or whether you should concentrate on better known, more prolific painters.

You might also at this stage hit upon a theme for your embryonic collection: perhaps Impressionist-style paintings if you have a French-style house, or traditional Victorian or French Salon paintings for a grand 19th century feel.

3 Work out your budget in advance.

Perhaps you recognise you will want to acquire half a dozen paintings for your new house within the next year or two. By the time you buy the first painting you should know roughly how much you will spend on the last one. Though you should not be tempted to buy all six at once, there is nothing wrong in deciding upon two or three. Indeed it would serve to kick-start your relationship with a dealer who will henceforth give you all the attention befitting a 5-star client rather than an occasional picture buyer. Lastly, remember it is always best to have overspent at first than underspent. It is easier to trade one good painting for two less good ones than trying to dispose of a whole house full of second-rate art.

4 Do not fall into the trap of only filling the most important places first.

Be flexible, since you may find yourself looking back with regret on the pictures you turned down, with nothing else seeming as perfect. Be guided by a dealer who will tell you which paintings will be most rewarding in the long run. After a couple of years of looking at art as a potential buyer you should be able to spot seriously substandard work at a glance.

5 Decide which medium you prefer: Oil paintings, pastels or watercolours?

Oils have the greatest strength of colour and can hang anywhere. Pastels are cheaper, have more delicate colouring, but require protective glass. Cheaper still are watercolours, which also require glass and which are rarely strong enough to act as a centre-piece in a room. The new non-reflecting, ultra-violet protected glass removes the problem of reflections and the risk of damage by sunlight to watercolours and pastels. It is completely clear and even slightly enhances the colours of watercolours, though it can be expensive. Nonetheless it helps collectors who wish to mix different mediums in their house.

6 What subjects to choose?

The question of subject is generally the most difficult. So many clients think they want one type of picture and then fall in love with quite another. As you gain in experience you will be able to trust your first impressions, since by the time you reach a second one the painting may already have sold.

There is a tradition for hanging certain subjects in specific rooms: Still lifes in the dining room; landscapes or marines in the sitting room; and nudes and female figures in the bedroom. But in truth a more imaginative use of paintings produces a much better effect. Quirky subjects can be more eye-catching and rewarding in the long run, since one can easily tire of obvious ones.

Meanwhile you can buy particularly well if choosing unpopular subjects, though they can also prove difficult to re-sell. There is usually an easily apparent reason for a subject's unpopularity. Paintings of middle-aged women generally fetch far less than those of pretty young things, while portraits of men nearly always fetch less than either. Don't forget that you might tire of an ugly old boot gazing down on you. Also death in any form (whether a sickly child or one of the myriad symbols of death, like a peacock) can reduce the price of a painting dramatically.

7 What questions should I ask?

Don't forget that straightforward question usually receives a straightforward answer, since they usually leave no room for any obfuscation. So here are a few questions to find out hard facts about a painting:

"Can you describe the condition of the painting" - a broad question to allow the honourable dealer to tell you as much or a dishonourable dealer as little as they want you to know.

"Has the canvas been re-lined?" - not necessarily a bad thing but certainly worth knowing.

"If so, why?" - let's get specific.

"Is the watercolour at all faded?" - it usually is very very slightly.

"Is the artist well-listed?"

And then some really tough ones:

"Will it go up in value compared with that other one?"

"What was it worth ten years ago?" - if they haven't ten years experience of the art trade then do not buy.

"Do you like it?"

"Knowing what you do about me should I buy it?"

"Will you be able to find me another one I like more?"

These last questions are a real test of whether the dealer has your long term interests at heart (as any good dealer should do, since he will hope to sell you all six paintings your budget allows) or whether he is just after a quick profit.

8 Where should I buy?

We cannot claim to be un-biased in the choice between buying from a dealer or an auction-house, but there really is no substitute for forming a good relationship with a dealer whose taste you like and whose character you respect. Don't forget that all UK dealers are bound by the Trades Description Act as well as their natural honesty and decency (the trade is populated mainly by enthusiasts and the villains are really very few and far between). If you tire of any purchases it is normal to refund your money or part-exchange against another painting. That sort of reassurance is very important when you are spending thousands of pounds.

Art dealers come in all shapes and sizes and you are certain to be able to find one you get along with.



ADVICE ON ART PART II
BUYING ART ON THE NET

There are many advantages to buying a painting on the internet rather than in a gallery: The access to so many images and the ability to compare their prices; the leisure to weigh up the pros and cons of a particular piece; and the ease with which one can browse without any sort of commitment. But there are also many potential problems and pitfalls for the unwary, arising from not actually seeing the painting nor the person selling it. These can usually be negated, or at least rendered negligible, with a little common sense.

So here is our guide to making the most of the advantages while avoiding the disadvantages.

We have assumed if you have read this far that you are already aware of some of the advantages, so we have deliberately addressed the disadvantages in greater detail.

ADVANTAGES

1 Ease of access

Through the internet you will have access to many more paintings than you could find in your hometown, be it New York City or Deadman's Creek, Texas. Indeed you can find illustrations of the stock of virtually all the world's leading galleries, and many thousand minor ones.

2 Ability to compare works available by a particular artist

Because there are so many paintings illustrated on the internet, if you become interested in the work of a particular artist you should be able to find a number of different examples being offered by galleries worldwide. Thus you have a unique opportunity to shop around, comparing the prices with the quality, desirability, historical importance and all the other factors that determine the value of a work of art.

3 Leisure to consider the information provided

To many it is important to be able to make up their own minds on the merits of a particular painting without an over-eager sales assistant at their shoulder. This was precisely the reason we devised the format of The Fine Art File instead of publishing a more orthodox catalogue, as it allowed us to present the information that we thought a picture-buyer would need. Our web-site has copied that approach, providing as much information as we can so that a buyer can make up his own mind.

4 No commitment just from looking

One piece of advice we always give buyers new to the art market is "Look around". By looking at as wide an array of paintings as possible you will discover where your taste in art really lies. But sometimes galleries will make you feel you are somehow committed to buying at least one picture simply by stepping through their doorway. The ease with which one can browse on the net removes any possibility of such embarrassment.

DISADVANTAGES

1 Greater difficulty in imagining what the painting would look like at home

When you are seeing any reproduction of a painting, there are a number of crucial differences. Firstly the sheer size: when an image is reduced in size it becomes more dense, it loses grandeur and becomes more intimate, and though gaining in detail becomes a little flatter. Although it can be tiresome, it can help cutting out (or sticking together) a sheet of paper of the size of the original painting and holding that up against the wall.

Secondly, though painting is ostensibly a two-dimensional medium, all oil paintings have a surface texture which, in Impressionist works for instance, is a major facet of the painting; this is flattened out in any photographic reproduction. However the clues are all there and with help you should be able to imagine the picture with some accuracy.

Lastly, we offer clients the opportunity (subject to various conditions outlined in «How to buy from W&D») to see a painting at home before they are irrevocably committed to purchasing it.

2 Difficulty in judging how accurate the illustration might be

Any reproduction differs minutely from the original, so it is as well to check with the gallery if there are any obvious differences.

However you should remember that any images you see on your computer screen are backlit, and as such the colours are shown at their strongest - ie this is how it should look in your home when it is reasonably lit. However it would be slightly less bright in a dimly lit corner of the room, though conversely the tones would also be a little more subtle.

3 Not dealing face-to-face with a dealer one has never met before

One of the difficulties of the Net is that computer-literate art dealers can create a glamourous website that disguises the real shabbiness of their business. At its worst, sub-standard stock, repeated bankruptcies and an irrevocably tarnished reputation can all be hidden behind illustrations of borrowed paintings and a few flashy gimmicks. And for many small-time dealers working from home with a handful of paintings, there is the chance to give their business equal standing with the most important galleries in the art market.

There are many signs of a truly reputable business. Membership of a major trade organisation helps, though beware: membership qualifications vary between organisations. Within the UK the British Antique Dealers' Association (BADA) applies the most rigorous standards to its members. Other reputable associations include the Society of London Art Dealers (SLAD) and the London and Provincial Antique Dealers' Association (LAPADA).

Many very good dealers work from home to avoid onerous overheads, but it is obvious the more money somebody has invested in their business, the more trust they have in it (and therefore the more trust you could have). Perhaps the key is to find out something of the history of their business. How long have they been working in this way - ie how settled is their business and are they likely to run off with your money? Do they exhibit at any major art fairs where participation is only allowed if they are of sufficient standing in the trade? Do they have any sort of international reputation? It is much easier for a rogue dealer to profit from his dishonesty in seclusion from the rest of the trade, since everyone in the trade knows the few really bad eggs. We feel Waterhouse & Dodd scores well on all these counts. Members of the BADA, we occupied the same site in Bond Street for more than 12 years before opening nearby in Cork Street, and have spent the last two decades acquiring a reputation in the trade as hard-working, innovative and trustworthy dealers.

But ultimately the basis of a good working relationship between a client and his art dealer is based on trust. For this you just have to feel comfortable with the image the gallery projects, and most gallery websites are detailed enough for you to be able to judge the character of the people you are dealing with.

4 Not being able to examine the painting yourself to ensure it really is all the gallery claims it to be.

As long as you have resolved the problem above and are happy trusting the gallery, this is one of the areas where it can in fact be better buying over the net. In a gallery you may not think to ask outright "Is this painting in good condition?" And even if you do you might well receive a slightly garbled reply, full of equivocation and maybes, ending with an up-beat "Having said all that it really is in very good condition" which is ultimately all you will remember of the conversation.

Over the net simply e-mail the gallery asking them to send you a condition report immediately to your e-mail address. That way they have to put everything in writing, which might help for instance if you ever want to resell the painting.

Any honest dealer will give a straightforward answer to a straightforward question. It's just that they may not tell you certain things until asked. For a dealer, these difficult questions include:

"Did you buy it at auction?" - not a serious problem but it would be nice to know if they bought it particularly cleverly; "Do you think it is a good painting compared with that other one illustrated?" - you should be able to judge from the response just how highly the dealer regards this work as compared with the hundred or so others he might try to sell you; and "How much did you pay for it?" - though the only circumstances under which you would receive an answer is if the dealer is desperate to sell, and this should put you on your guard immediately.

As to questions of authenticity of the painting, this would normally be covered in the UK by English Law and especially the Trades Description Act. At its simplest this ensures that if any English dealer sells a painting as being by a certain artist and it proves not to be by that artist, then he has to refund the client his money. Waterhouse & Dodd also supply their own guarantees to reinforce this (see Our Gallery Policy).



ADVICE ON ART PART III
« ARTSPEAK » A brief guide to the art world's use and misuse of language

ON THE CONDITION OF PAINTINGS

« Restoration »

The returning of a picture as nearly as possible to its original state. For an oil painting this usually involves cleaning off the old discoloured varnish and the layer of dirt that has accrued on top of it, retouching any damaged areas or any cracks that have opened up in the paint, and then re-varnishing.

« Conservation »

The purist approach to restoration. For instance, a conservationist may insist that the unsightly stains on a watercolour are merely chemically neutralised rather than removed, while a restorer will normally thoroughly clean the paper of a watercolour leaving it considerably whiter. The conservationist's approach is generally regarded as a 'good thing' but if a watercolour is slightly faded then that extra bit of cleaning can leave the remaining colours looking fresher and stronger.

« Pentimenti »

The early workings and sometimes the mistakes an artist has made before committing himself to the final outline of a form. They are unattractive if too clearly visible, but can provide an interesting insight into the artist's working methods. Furthermore they can usually be a reassurance of the authenticity of a picture since a copyist or forger usually works out the outlines well in advance so this evidence of the creative process is missing.

« Mint condition »

A picture that has only been lightly cleaned in the past, if at all, and with no re-touching. "Hasn't been touched" is sometimes used simply to explain why a picture is being offered in a dirty, dishevelled and generally un-hangable state.

« Impasto »

The heavy or thick application of paint which shows the marks of the brush or palette knife. This might be flattened out when a painting is badly re-lined (see below). Most dealers will only introduce this word into the conversation if they are confident the painting has not been re-lined.

« Re-lining »

Mounting a painting with its original canvas on a new canvas for extra support. Don't be afraid to ask why a picture was re-lined. It could be for any of the following reasons: the paint might have started to lift from the canvas; cracks in the paint might have shown signs of widening and becoming un-sightly; there might have been a tiny tear in the canvas; somebody might have put a size 12 boot through the middle of it.

« Craquelure »

The network of hairline cracks in the pigments and varnishes of oil paintings. This is sometimes seen as an attractive and natural result of age, and divides people in the same way as the dilemma of keeping your wrinkles or having a face-lift. The plastic surgery option is to have the picture re-lined, even though it might lose some of its original character.

« Foxing »

A micro-organism that manifests itself in small brown dots on paper. It is easy to cure in its early stages; later it can necessitate expensive treatment such as bleaching and re-touching. On a picture at auction it implies the work is in otherwise good, original condition; at a gallery it suggests the foxing might have been tricky to remove or it would have been treated already.

« Blooming »

A film that develops on varnished surfaces, first seen as a bluish veil. This can normally be treated simply by re-varnishing. To see how the colours will look once the picture is varnished, slightly moisten a small area. This is normally done (especially when viewing auctions) by spitting on your finger and applying it lightly to the picture. However this increases the effect of blooming once the spit has dried; thus, on pictures at auction you will often see the area around the signature has whitened slightly. This is one of the reasons galleries properly varnish their paintings: to stop clients spitting on them.


UNDERSTANDING THE SMALL PRINT

« Provenance »

The history of ownership of a picture. Normally the known provenance of a picture is limited to collections such as those of museums, the aristocracy or certain celebrities. Auctions and all but the most important commercial galleries are usually excluded.

« Attributed to »

An indication of a degree of uncertainty about whether the artist named executed the work of art. In practice this means there is virtually no chance that he did.

« In the manner of »

Also «In the style of» and «Circle of». Usually a desperate ploy to link any old artist's name to an otherwise anonymous work of little real quality. Do note however that these descriptions of different shades of certainty regarding attribution have a very real and valid significance in the world of Old Masters. When applied to 19th and 20th century works they become more derisory.

« Bears signature »

A false signature on an otherwise authentic picture. This phrase recurs with surprising regularity for what should be a rare combination. Especially in the last 50 years or so the popular prejudice has been against unsigned works, so for unscrupulous owners false signatures have been added to allay the fears of a public that finds unsigned works suspicious. All this is rather unnecessary for if a picture is right, why should it need a signature to prove it? If a picture is wrong, the signature is the easiest bit of it to forge.

In some cases the presence of a signature arouses more suspicions than it allays. Peter de Wint only rarely signed a work yet a large proportion of his watercolours bear spurious signatures, while Birket Foster's monogram is so well-known and so easy to copy that highly convincing monograms appear on the most talentless fakes.


UNDERSTANDING DEALERS

« A difficult picture »

A picture of otherwise impeccable quality whose desirability is undermined by one fatal flaw - extreme darkness, or the inclusion of excessive blood, death or an ugly woman. Yes, the art market is that sexist.

« A burnt picture »

A picture that has been unsold too many times by various dealers and auctioneers and has now got caught in a vicious circle; the more times it is seen to fail to sell, the less confidence buyers have in it, and the harder it becomes to sell. Sometimes this is down to bad luck and a succession of adverse conditions, sometimes it means there is something genuinely wrong with it. However, for the confident picture buyer who is prepared to keep the painting on their walls for a minimum of 5-10 years these can sometimes prove to be bargains.

« A knock-out price »

The price at which a dealer will offer "an old friend" simply to make a sale; he can then make his profit on the next purchase. As with a 'burnt picture', the buyer has to face up to a very important question: Is there anything really wrong with the picture, such as a problem of condition or attribution, or has the vendor simply been unlucky? Remember only one buyer is needed for a painting, and it's easy to miss him or her. On the other hand art dealers are rarely given to making altruistic gestures.

« It's totally private »

Also known as "fresh to the market" and "had it hanging in my home for years". This is normally only a dealer-to-dealer line, although it is sometimes used to reassure a collector that a painting has not been 'burnt' in the trade. It can mean the vendor bought the picture from a little old lady whose father got it from the artist. It could however mean the dealer was told this story by the said little old lady who was actually a bit smarter than he thought since she bought it at Sotheby's six months ago. Or it could mean he bought it from an old lady and just likes to exaggerate a bit. Or it could mean he's a liar. If so you should find another dealer.

« Very well listed »

The comparative amount of space an artist occupies in the standard reference books. For European artists this normally applies to their listing in Bénézit's dictionary but it can also refer to other standard works.

No listing at all is very detrimental to a picture's value; one to four lines is satisfactory; 10 lines is very good; and anything much over 20 lines means the artist changed the course of Western Art. Beware however that a listing from 30 years ago will have been written with a very different set of aesthetic values to one written today.

« A decorative picture »

Although most important Impressionist works are 'decorative', this phrase crops up more often in relation to a picture of doubtful artistic merit that might go nicely with your curtains.

« En plein air »

Literally means painting "in the open air". Most often it refers to the practice of painting sketches outdoors and then working them up into full-size pictures in the comfort of a studio. Only rarely does it mean taking a full-size canvas, easel and palette out into the fields. The Pre-Raphaelites found out how flies were attracted to wet oil paint and, like them, most artists only really painted en plein air in their youth - and like them most artists pretend otherwise.

« Spatial Ambiguity »

The device of playing with perspective so that, for instance, an object at the front of the composition links with an object further back. Strangely enough artists with no grasp of perspective rarely capture this effect by accident. However art dealers with no grasp of aesthetics still manage to trot out the phrase to favoured clients.


WHAT HE MIGHT MEAN WHEN HE SAYS .....

« A popular artist »

"Lots of people want to buy his works but who knows why." The artist painted appealing subjects in pretty colours but his works rarely have any real substance.

« A challenging artist »

"Not a lot of people want to buy his works and I don't know why". The artist might have put passion and intellect into his paintings but he lost sight of the fact that they usually end up hanging not on the walls of a museum but of a family home. Challenging works often spend a long time hanging on an art gallery's wall, the dealer having long forgotten the commercial realities in misty-eyed remembrances of his days studying art history.

« An under-rated artist »

"If you only knew why."

« A good traditional artist »

"Oh, but he's so boring."

« An important artist »

"Nobody wants to buy his works and I know why". He may have changed the course of Western Art, but all his decent paintings have long since been acquired by museums or multi-millionaire collectors. Thus the picture before you is either a fake or was painted while the artist was handicapped by a severe hangover, advanced senility, chronic arthritis or myopia. It is interesting that in the latter part of his life Renoir was afflicted by every one of these symptoms. Hence the many temptingly affordable but aesthetically bankrupt examples that were a boom market in the late 1980s.

« A fine example »

"In the top 50% of his oeuvre."

« A remarkably good example »

"You should have seen some of the rubbish he painted."

« The very finest example »

"Until I buy the next one."