The Price of Art. What’s it worth…?

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So last year a consortium spent $28million on a Pablo Picasso. The year previously an online client spent $15million on a Hopper which was purchased without the buyer even viewing the original… So where does this shortfall of economic gain and price induced art begin and who is to blame? Certainly the auction houses predominantly control the art market pricing structure, something perhaps relating to their high flying Chinese and Middle Eastern client base. Then to be honest the Cork street galleries have no compunction about plucking a figure out of thin air and placing it on a piece of art. Often not even highlighting the price, with the understanding if you have to ask… you can’t afford it.

Although having always been a luxury item, the nature and extent of art has changed dramatically over the past few decades. David Zwirner asked “Why do we pay so much for Art?” This is quite a poignant question, with so many other things urgently requiring capital why is so much money plunged into the art market?

The price of art is booming and the game played by auction houses now seems to be one of merely asking “which record can we break next?” Great for investors and sellers, but it doesn’t really capture the real essence of art, and threatens to cheapen the cultural impact of the work. With that in mind I would like to take a look at a modest number of artworks from our gallery that are absolutely not expensive, and definitely not priced for London, but showing them on this platform perhaps gives you the opportunity to peacefully contemplate the value of art to the consumer who is buying it for the pure pleasure of the piece.

 

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‘David Bowie’ by Ed Chapman

Original Mosaic created entirely from smashed vinyl records.

Price – £10,000

An artist of distinct ability. The incredible detail speaks volumes and what is potentially a modest figure for a piece that takes well over a month to complete. Ed latest original of Queen Elizabeth II sold from an astonishing £26,000 at auction and with commissions and collectors from prestigious Universities to the Beckham’s his work is certainly in demand.

 

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“Zen Lepidoptera” by Christopher Green

Oil on Board

Price – £4,000

Where to start with this Nottingham artist. An artist that has no worthy seller catalogue. An artist that has merely dipped his only tentatively dipped brushes (so to speak) in the gallery world, however we are now looking at piece of magnificent proportion. A hand painted ‘Buddha’. 122cm in height by 90cm in width. Painted with no audio aid. A piece that has taken 6 weeks to complete. If we take into consideration man hours as well as a procured skill which many of us do not own this is a mere snippet at £4,000.

 

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“Atomised” by Russell Hatton

Industrial Spray paint on Aluminum

Priced at £3,950

Russell spent 30 years perfecting the art of painting on mental sheets. A technique of ground breaking proportion I do believe there is no artist in this country or possibly the world that can replicate his technique. His ability to control paint, create something beautiful and master a piece that can only be described in short as ‘Integrity’. A work of art that won’t fade after time, can withstand the elements including direct sunlight. A work that is so translucent and vibrant and cannot be replicated within any other medium is outstanding. Worthy of a much more inflated price tag I believe, a fact that has certainly proved correct over the past few years.

To conclude Here in the gallery we look to take London art out of the London market without stipulating the London art market pricing structure. Our prices are set on secondary market sales, artists cost and fluctuating trends and fashions, a set of practices that in my mind should be independently regulated. The works above may seem ‘Pricey’ but in my opinion justified based upon skills set and longevity of style.

Kind Regards,

George Thornton Art

12a Flying Horse Walk, Nottingham, NG1 2HN – Tel – 01159243555

 

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