The Wall Street Journal recently published an interview with Bill Ruprecht who is president and CEO of Sotheby’s.  In the article, Mr. Ruprecht discusses the buying habits of art and antiques investors and collectors. The article also offers the following tips on bidding on or buying major works of art. The tips are applicable to collectors and investors in any area of antiques, arts, and collectibles.

  1. Buy what you love rather than what is either fashionable or as an investment.  You will get pleasure every day that way.
  2. Buy the best you can and decide what you are comfortably prepared to spend.  Then be willing to spend more.
  3. Find someone who you can trust to help you think long-term about your collection.
  4. Get a written condition report for every piece, regardless of the age.
  5. Check the provenance of the artwork: a history with a great collector, artist, or museum can greatly add value while other owners may be problematic.

Greg Myroth

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