Miguel
Let The 'Buyer' Beware
Park West gallery repeat customer since 2006. Art is extremely subjective as it comes in a vast variety of forms. It's pure and real value is only what somebody else is willing to pay for it. If you buy a work of art because you 'like' it, you're not to be concerned with it's purported value. If you buy a work of art as an investment, based on its purported 'value', you should be sure that it is a hand-signed original, one of a kind, or extremely limited edition that comes with a 'Certificate Of Authenticity' (COA) at the very least. If framing is offered go ahead and get it framed because you won't like the prices back home. In time you may want to part with your art due to personal or financial concerns or maybe because you found something better that will fit that spot. In any case, prepare yourself for the shock of the "Secondary Market". Much like an automobile, once your work leaves the hands of the primary seller, or artist, the 'appraised' value decreases by nearly 50% or more, depending on the originality and quality of the work. The primary seller will never acknowledge to you the existence of a secondary market or the prorated value after the sale. If the primary seller is able to furnish you with an appraisal, the appraisal will reflect an inflated speculatory number, created in-house by the seller, similar to a 'Manufacturers Suggested Retail Price' for automobiles. And much like a used vehicle, your trade in value will be depreciated also. Since I started cruising in 2006, I have obtained over 100 so-say works of art. Many are merely prints or copies of original art. My date of experience as shown here reflects the last opportunity I had to purchase more art from Park West on a cruise ship. I refrained since I am now aware of the 'Secondary Market'. Regardless of the valuation given from the primary market, most of the works of art will only fetch 50% or less than what you paid for them. Surprisingly, commissions in the secondary market are as high as the primary market, and many of the commissions are greater than the 'Secondary Markets' appraisal of your art. Imagine you paid $4,000 for a work of art which is valued at $8,000 and when you list it through a brokerage you have to list it near $2,000. They will get up to a $1,000 commission no matter what it finally sells for. And, if it sits too long, they will expect you to drop the price again and, they may or may not take a cut in their commission to do so. Yes, art is a very suggestive and expensive liquid market. If you see something at a Park West auction that you like, search the internet for it first. Many 'Park West Auction' buys are now on eBay, Amazon, Etsy and several other websites that resell art. You just might be buying one of mine....