The Internet Points to the Future
Within the last fifteen years the internet has changed our lives and has led us to behave in a way nobody ever had imagine thirty years ago. From computers, to mobile phones, we all spend time on the net, search, serf, enjoy and most importantly, we all shop with trust and NO fear. Buying over the net is a way of life and the billions spent shopping on the net are catching up with the billions going shopping physically.
I have been buying at auctions all over the world not only in live auctions but also on the net sales for years and well before 2000.
The Internet delivers first time out
Lucas Geralis
(Greek, [1875-1958] Painter of figurative, marine and still life paintings. Well regarded and collected. Auction sales range £1500- 8000)
15th April 2003, Bonhams, London 10th May 2004, Sotheby’s, London
The Lucas Geralis painting of flowers, estimated just a little more than I priced it, had been on the Internet since early 2002 and was begging to be bought. Bonhams were trying hard, but it refused to happen. Once and twice I sat it out and refrained from bidding. When it appeared for the third or fourth time at £500 I bought it with no competition. I was happy with the quality of the Geralis painting, the first of his I had ever bought. Its market value I estimated to be double the amount I had paid. The 2004 Olympics were upon us and I was expecting everything Greek to be in demand, including art.
I was mad about investing in Greek art, as it has become apparent already, but nothing compared to what was to happen in the following couple of years. Greek art continued improving at auction with a track record at the top of all the art markets. It had shown a 300% improvement since 2000 and there was plenty more in the tank, I forecast. My trades in Greek art showed comparable percentage profits and at times returns were close to 1000%. Investing more in Greek art was essential and made great business sense at the time. I could see at least doubling my money in the short term. Furthermore, Greek art spoke to me as a person, thus fulfilling the emotional need of art investment.
The Internet had become my best assistant and right hand by 2000. I could get to it quickly and travel the whole world in minutes looking for bargains in a million and one auctions. The downside was that it was also available to everyone else. So, where was my edge since so many millions could access the Internet like myself?
· In-depth knowledge and a hard-working ethos!
· All the tools of investing successfully were at an instant’s recall in my head and my home. I had all the resources required to make successful investments quickly, with little or no need for outside research.
· My expertise in Greek art was very good and more importantly up to date with prices achieved at auction in the last few years. That was the most significant part of my knowledge. If there was a case of unknown and interesting, I had the catalogues, the indexes, the encyclopedias and literature required to inform myself quickly and act accordingly.
December was here and the year was coming to an end. Taking a break that Saturday 14th December 2003, I surfed the sports pages to relax and forget the art addiction that had recently led to even more investments. But that is easier said than done! Looking at art was a form of relaxation for me and an intoxicating medium. From site to site I ended up on the website of ‘IEGOR’ in Montreal.
