BUYING ON INSTINCT AND THE MOMENT!

INVESTING IN ART IS NOT JUST RESEARCH AND INVEST

I BOUGHT THIS PAINTING ON INSTINCT

WE ALL LIKE THINGS, WE ALL ENJOY LOOKING AT THINGS AT FIRST SIGHT AND TODAY I AM GOING TO NARRATE WHAT I DID IN THE EARLY DAYS OF MY DEALING IN ART. IT WAS NOT KNOWLEDGE, IT WAS NOT HIGH PRICED ART BUT IT WAS ART OTHERS FOUND INTERESTING AND PERHAPS PROFITABLE TO BUY AESTHETICALLY OR FINANCIALLY.

THE CAR IS OLD, THE CAR IS SMALL BUT ITS BIG ENOUGH TO BUY SOME ART AT SEVEN OAKS IN SOUTH ENGLAND. I HAVE NO PERMANENT JOB,JUST SUPPLY TEACHING, I HAVE A BABY SON AND ITS ROUGHLY END OF 1984. IT IS A DAY OUT, IT IS A SUNNY DAY AND WITH MY WIFE AND THE YOUNG BOY AT THE BACK OF THE CAR WE GO FOR A DAY OUT AND A TRIP FOR BUSINESS.

IN THOSE GOOD, OLD DAYS THERE WAS A LOT OF MATERIAL TO BUY AND TRADE TOO. THERE WERE ALSO THE MAJOR PAINTINGS WHICH I COULD NOT AFFORD AS MY BANK AT THAT TIME WAS ABOUT 1000 IF NOT LESS. I REMEMBER WELL THE UNTERBURGER PAINTING OF THE BAY OF NAPLES BUT AT FIVE THOUSAND POUNDS , IT WAS FOR THE RICH AND THE MATURE DEALERS WITH PLENTY OF MONEY.

WHAT WAS THERE FOR ME TO BUY THEN? WELL ANYTHING AND EVERYTHING FROM TEN TO FIFTY POUNDS. I SPENT ABOUT 250.00 AND I BOUGHT ALL IN ALL ABOUT FIFTEEN DIFFERENT PIECES IN SINGLE ITEMS AND LOTS OF MANY. I WAS HAPPY WITH WHAT I BOUGHT EVEN THOUGH I HAD NO IDEA WHAT THEY WERE. UNSIGNED, ENGLISH SCHOOL, ALL OF THEM OF SOME AGE AND WELL OVER 100 YEARS OLD.

BUYING IS VERY EASY BUT SELLING IS MUCH HARDER AND MORE TESTING TO THE MIND AND THE EMOTIONS. IT WAS HOWEVER, A PLEASURE TO DO THAT AND A BIGGER PLEASURE WHEN I MADE EVEN 50.00 ON ANYTHING. YES, THE PLEASURE OF A LITTLE HERE AND A LITTLE THERE WAS INDEED GREAT.

FROM SEVEN OAKS TO BIRMINGHAM WAS NOT VERY FAR. SOME 150 MILES AND THAT IS WHERE I HAD THE AUCTION TO SELL, THE AUCTIONEERS TO OFFER ALL THAT I USED TO BUY AND MAKE A LITTLE PROFIT TOO. THUS BIRMINGHAM WAS THE VENUE TO SELL. I HAD NO WORRIES OF NOT SELLING AS THE ITEMS WERE OF LOW VALUE AND USUALLY THEY SOLD WELL.

I TOOK NOT ONLY ALL THE ITEMS I BOUGHT AT SEVEN OAKS BUT A FEW MORE FROM HOME. CAR LOADED WITH ANYTHING AND EVERYTHING I SET OFF TO BIRMINGAHAM. NO WORRIES ON THE WAY AND NO WORRIES IN CONSIGNING EVERYTHING FOR THE UPCOMING SALE IN A COUPLE OF WEEKS TIME.

HOW COULD I BE AWAY FROM A SALE LIKE THAT. IT WAS PLEASURE, IT WAS FULFILLMENT, IT WAS MAKING MONEY.

BACK TO BIRMINGHAM IN TWO WEEKS FOR THE SALE. EVERY TIME I SOLD SOMETHING IN THOSE DAYS, I AIMED HIGHER AND HIGHER FOR MY NEXT INVESTMENTS. THE SALE WAS MORE THAN SUCCESSFUL AND I REMEMBER THAT I WAS VERY HAPPY TO SCORE A 75% RETURN AND CARRY ON ON BUILDING MY CAPITAL AND INCREASING THE STAKE ON EVERY ITEM I INVESTED IN. YES, I HAD NO IDEA WHAT I BOUGHT, BUT I ALWAYS BOUGHT GOOD LOOKING ITEMS AND OF LOW VALUE. AT THE SAME TIME I WAS LEARNING THE TRADE AND GETTING VALUABLE EXPERIENCE ON HOW TO BUY, HOW TO SELL AND WHAT TO BUY AND SELL.

FROM SMALL AUCTIONS IN LONDON TO PROVINCIAL AUCTIONS AROUND LONDON AND FINALLY TO THE MAJOR AUCTIONS IN LONDON AND INDEED SOTHEBYS AT CONDUIT STREET IN THOSE DAYS. WEEK IN WEEK OUT I WAS LOOKING FORWARD TO THEIR SALES AND FINALLY I WAS NOT AFRAID NOR INTIMIDATED TO WALK INTO A BIG AUCTION HOUSE AND BUY. YES, I ONLY BOUGHT IN LONDON AND SOLD IN THE COUNTRY WITH GOOD RETURNS. IT WAS AT THIS TIME IN MID 1984, THAT I HIT GOLD AT SOTHEBYS CONDUIT STREET SALES.

THE WATERCOLOUR LOOKED GREAT AND KNOWING NOTHING ABOUT THE ARTIST STOPPED ME NOT. IT WAS GREAT ART, IT WAS A GREAT LOCATION AND THUS MY 75.00 WAS POSSIBLY THE MOST EXPENSIVE ITEM I EVER PAID TO BUY IT.

IT WAS INSTINCT, IT WAS LIKE, IT WAS FOR MY OWN SATISFACTION BUT ALSO, IT WAS AN INVESTMENT!!

FOLLOW ME NEXT WEEK ON THIS EVENT….

PETER CONSTANT, AUTHOR OF RAGS OR RICHES, A BOOK ON ART DEALING AND A LIFE IN ART!

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