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« Verdult Art Market Six Ways to Make Things Happen | Main | The Art of Buying William Verdult Artwork, With the Help of an Adviser »
Tuesday
Jul072009

Positive and Negative Forces Affecting the Verdult Art Market

f3.gifNearly every day we receive at least four calls or emails concerning people wanting to sell their Verdult painting or wanting to know the value of their Verdult painting or need help with selling their Verdult painting.

Normally, they are looking for a sale and a quick sale fast.

We are probably no different than Christie’s or Sotheby’s who certainly receive way more calls and emails about the subject. Just like Christie’s and Sotheby’s before you can sell the art piece you have to do a couple of things, provide proof of ownership, pay fees, and enter into a written contract.

In that regard, we are no different. So to ease some of the frustration that we frequently see, here are some tips as well as things that may be of some interest.

If you want to sell your Verdult art, you want to have a good handle on what we call the Verdult cash market and the forces that affect this market.

Here are some positive forces affecting the Verdult market:

  1. The art market in general is on the upswing

  2. Verdult is a listed American Artist.

  3. More and more major depositories of art are tracking Verdult art work.

  4. Art is moving toward being an asset class, like real estate, and stock and is starting to be track as such.

  5. Verdult art is being displayed in more and more reputable places.

  6. Publicity on Verdult art as well as website traffic has increased and continues to increase.

  7. Price and sales data for Verdult art is becoming more transparent.

  8. In the past three years we have conducted over 3,000 auctions, sold hundreds of Verdult art; and have commissioned The National Institute of Appraisers to complete scores of formal appraisals for Verdult paintings.

  9. All the key on-line art depositories now track Verdult art.

  10. There is a record of Verdult cash sales.

  11. Verdult art is beginning to be displayed in major locations and exhibits around the country.

  12. A major network of websites and blogs are promoting Verdult's work.

Here are some negative forces impacting the Verdult market:

  1. The fluctuation and concern about the overall economy impacts individuals willing to spend their discretionary income for art.

  2. Their is confusion in the Verdult market concerning value stated on the Certificate of Authenticity verses the cash auction value or even the appraised value of art.

  3. There is confusion about who owns the Verdult brand.

  4. Art in general is changing from an unknown or unfamiliar asset class to an asset class like stocks, bonds, real estate, and cash.

  5. Many gallery owners and so called art experts may not be familiar with Verdult art.

  6. Many people who have Verdult art, do not know the value of their investment or even where to start in determining value.

  7. Early on Verdult himself contributed to the challenge by continually trading his art in the barter market while not working with art galleries, or promoters and other representatives who could promote his work.

  8. Allowing Verdult's young son, an inexperienced young person with no formal background or academic training to promote his work.

  9. Early on not properly managing the Verdult brand.

  10. Owners not fully knowledgeable of how to leverage and collateralize their holdings.

  11. Though Verdult is a listed artist not as widely known as he should be.

  12. Lack of solid paper trail for cash sales.

In tomorrows post we will see how we can turn some of the negative forces into positive forces and increase the demand for and growth of the Verdult brand and Verdult art.

 

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