Envy Man Magazine Online

by: rodrodriguez

We assume that as an Envy Man you are smart, handsome and charming.  You’ve worked hard, begun to accomplish something of importance and have made some money.  You own your first real estate, have a rather nice car and are building a stock and bond portfolio.  Still, you may not yet be quite able to have the Breguet, Vacheron Constantin or Patek Philippe Swiss timepieces you’ve had your eye on. Maybe you’re simply not ready to trade your ride for that Maybach, Bentley, McLaren or even the Porsche Cayman S.  But, you do want those things.  So why should you give a damn about a 17th-century dead guy?

Self Portrait in a Cap, with Eyes Wide Open

As you accumulate wealth, you need to figure out how to diversify your investment portfolio.  Here is an asset which EM suspects you may have overlooked.  Placing a small portion of your savings each year into original fine art would definitely be worthwhile.  Artwork is a “transportable asset” which makes it particularly useful while you’re still moving around.  If you start buying good art when you’re young and make it a regular part of your investment strategy, you will derive amazing long-term gains.  Best of all, if you buy only artwork you truly love, you will get pleasure out of your purchases every day of your life and you will never have to sell them to see the benefits.  We aren’t suggesting you buy art strictly as an investment.  Buy art you love.  Consider the increase in value as an auspicious bonus.

Nude Man Seated Before a Curtain

These you can afford.  One can find decent original etchings starting around $15,000.  The solid mid-range pieces are $25,000 to $40,000.  The really rare pieces bring $100,000 to $200,000.  The problem is surviving the process of buying your Rembrandt.  Getting what you want is not so easy.  Availability is part of the problem.  There aren’t all that many quality pieces for sale.  There are too many people with too much money chasing too few good pieces.  And the pressure!  That honey-voiced, silver-tongued salesman in the quiet, elegant showroom with the lights turned down to just the right level, you know that guy, right?  His job is to lure you with the magic and mystery of great storytelling and then grab your credit card.  Purchasing fine art has always been like walking through a minefield.  The best you can do is to prepare yourself with some insider tips from EM.
 
First you must know yourself.  Understand why and what you are buying and only take home art you honestly believe you would enjoy having with you for the rest of your life.  Next, know the party you are buying from.  Most galleries are chain operations or vanity projects.  Find out who they are and their reputations. Your first priority in buying should be to reduce risk to a minimum.  You will be spending some serious money, so you better get it right the first time.  Insisting on answers to the following questions may encourage you to flee most galleries.  However, hearing the correct answers will give you the confidence to make substantial purchases and build a long-term relationship.

1.     “Do you own the artwork you are showing me?”

Think about it, have they laid their own money on the table?  If they have, chances are they went to great lengths to verify and authenticate the pieces and bought only work in mint condition.  It suggests a different level of commitment to both the artist and the particular pieces of art.  It is, most certainly, the commitment EM would look for.  It should give you pause if you find that you are being offered a consequential work of art and the seller only has it on consignment.

2.     “Are you an independent gallery or a chain?”

Is art your primary focus or is it just a product you push?  There is a comparison in the mortgage business; is it the banker loaning his money or merely a broker arranging deals?  You have to find a place where you are comfortable spending the money you have worked so hard to accumulate.  Locate the real old-fashioned European-type dealers for your buying.

3.     “How long have you been in business?”

Most galleries last less than five years.  Look for a place that has been around longer than 20 years.  There aren’t many.

4.     “What kind of warranties or guarantees do you offer?”

Pay attention, this will come back to bite you.  Read the small print and ask questions.  Clearly, each artwork must have a Certificate of Authenticity, but it’s only as good as the reputation of the gallery that provides it.  Ask if insurance companies worldwide accept their word. And, will the gallery still be around to back you up in 10 or 20 years?  Also, will the gallery provide updated appraisals for insurance and estate-planning purposes?  You won’t understand for many years how important that will become to you.

5.     “How long have you worked here?”

You are looking for a researcher, not a salesman.  You want someone to help you find artwork you really love and then give you background information to help you decide if the work makes sense for you.  You want to make a long-term relationship with this person so they can get to know your tastes and assist you in the future.  You need someone who is not interested in selling you only one item, but wants to help you find an array of interesting pieces over the years.  You are actually seeking another expert to add to your list of professional advisors.  We all need a good attorney, doctor, accountant, and real estate agent and, EM says, a terrific art consultant.
 
Rembrandt (1606-1669) was one of the most productive artists in history.  It may sound counterintuitive, but that’s a good thing.  The more work an artist produces, the more likely it is that people will see the work and recognize the artist’s name and output. The more widely the work is owned, the more everyone benefits as the work increases in value.  All the owners have a vested interest so they encourage others to buy, too. It’s a powerful cycle.  Fame equals value.  Sadly, however, big brand names also invite fakes, scams and fraud.

Nude Man Seated on the Ground, with One Leg Extended

There are around 2,300 of Rembrandt’s extant works including paintings and drawings.  He created nearly 300 metal-plate etchings of which about 80 still exist.  During his lifetime he made a few, and even up to a few hundred, impressions from each of those plates.  Those impressions made by him during his lifetime EM would consider “original.”  They are called, oddly, “lifetime impressions” and they are what you really want.  All images pulled from the plate the artist made, but after the artist died, EM would call “restrikes.”  This is the distinction true fine art dealers, museums, and serious collectors have always drawn to define an artist’s “original” print work.  It is certainly acceptable to buy the restrikes, just be aware of what you are buying.  Be very clear that collecting art is a life project, so relax, enjoy the process and do the best you can.  Collectors spend a lifetime trying to improve on their first Rembrandt purchase as their wallet thickens.

The Shell

The Monk in the Cornfield

The continuing appeal of Rembrandt’s etchings is their timelessness, their visual inventiveness, their freedom and spontaneity and, most of all, their sheer beauty.  He was a master storyteller.  The fine details he rendered require you to involve yourself in his world.  This is artwork that must be studied.  This is art that will fascinate you for your lifetime and charm and pleasure those who come after.  Rembrandt is an acknowledged master. He is totally in control of his subjects, his materials and you, the viewer.  His sense of humanity provides the connection across space and time.  Nothing has really changed since the 17th century.  Rembrandt’s etchings provide proof.

How lucky you would be to have the honor and pleasure of caring for part of our shared cultural heritage, looking daily at a beautiful part of history... and garnering about a 20% increase in value every year... but, remember, that’s just the auspicious bonus.
 
EM bets that when you are very old you will look back over your shoulder to measure when certain thresholds were crossed and when benchmarks of your maturity were met.
 
At what age did you buy your first Rembrandt?

{EM}