THE CASE OF BERNARD BUFFET AT BONHAMS NEW YORK
The world of art has its secrets, its ways of acting and behaving and thus offering opportunities to the investor, art lover or indeed the seller.
The Buffet painting at Bonhams New York was sold and resold, remained unsold etc for a couple of times. Yet, it appeared on the market at 100,000 dollars at Bonhams where it was sold for 113,000 dollars including commissions.
That was a bargain purchase-investment!!!
The market of Buffet for such a painting is between 300-500,000 dollars right now. The investor, I am sure made a conscious decision to invest in the artist and the work and in a decade or so resell the painting at a profit, which is a certainty.
Dear readers, there are genuine bargains around and if you are lucky you can get one or two. Well done to the buyer of the Buffet at Bonhams. A good painting, a good investment and enjoyment too!
Following our Bargain Alerts could be a profitable exercise!!!
Peter Constant, BA, MA and art investor and consultant