Best in Show: Auction House Previews

Vintage Diamond Ring tried on at a Christie's jewelry preview

Auction previews happen all the time in New York City, but who goes? Well intrepid collectors, obviously, looking for their next big purchase and art world insiders. At any time the top auction houses: Sotheby’s, Christie’s, Phillip’s and Bonham’s, have a rotation of artwork, furniture or jewelry (just to name a few) on view. What is not widely known is that these previews are open free to the public. What is so exciting about this is that much of what is on view will go from private collections back into private collections. For some of these artworks and objects this is the only time they will be viewed by the public.

Not to mention, if you are a jewelry lover like me and want to try on $100,000+ rings, necklaces and earrings this is your chance! All one has to do is walk in and ask what floor the preview is and then you are good to go. But this is not the only reason you should go to a preview. Much like a museum or gallery these exhibitions are often curated and will offer a different perspective on the work at hand. An upcoming auction at Sotheby’s, The New York Sale, looks like a good prospect. According to Sotheby’s this is a curated auction of “items from, inspired by and celebrating New York City.”  This inaugural New York Sale includes Print, Photographs, Paintings, Sculpture, Silver, Books, Jewelry and iconic New York Memorabilia.

Auctions are often themed and scheduled to coincide with other events in New York. Right now Bonhams has an exhibition called Dogs in Show and Field for an auction featuring only canine focused fine art, a perfect match for the annual Westminster Kennel Club Dog Show, also in New York. The auction is happening tomorrow February 18th in New York beginning at 10am, so don’t worry dog lovers you still have time to hit both events.

Seeing auction previews and the auctions themselves is a great way to get a feel for what’s in the market at the moment, the prices and conditions of what is available. Plus, it can be a great way to spend an afternoon.

Here are some interesting auction previews and exhibitions that are coming up:

·         Rockefeller Center and the Rise of Modernism in the Metropolis, Christie’s Private Selling Exhibition, New York

• • On view: 17 January – 25 February 2015

·         Dogs in Show and Field, Bonham’s New York

• • On view: Today, February 17th 10AM-6PM
  • Auction: February 18th 10AM

·         Under the Influence, Phillips New York

• • 23 February – 3 March, 10am-6pm (Sundays 12pm-6pm)
  • Auction: March 4th 11am

·         The New York Sale, Sotheby’s New York

• • On view: 26 March - 31 March, 10AM - 01PM
  • Auction: April 1st, 7PM 

A Night at Blumka Gallery

The cocktail reception at Blumka Gallery, hosted by Anthony Blumka and Florian Eitle-Böhler on January 27. The night most of Manhattan closed down for the snow blizzard that never happened. Fortunately, that did not keep the die-hard art connoisseurs of Medieval, Renaissance, and Baroque fine and decorative arts at home.

Open only by appointment, even with a room filled with the art patrons, museum donors, curators, educators, and in this case an appraiser, the gallery space still had a calm and serene museum cathedral-like environment. Just take a look inside one of their vitrines, which could have been as well inside the Metropolitan Museum of Art or the British Museum.

The Blumka gallery is one of the most important galleries that cater to private clients who collect these centuries old master works. Seen were curators and educators from the Metropolitan Museum of Art and the Frick Collection. The appraiser’s former professors were there who also work at these museums. These art professionals appreciate the well edited works of art that Blumka provides to its patrons, who often donate these works to art museums and institutions.

It was a very enriching and entertaining night even if most of the city was hunkered down at home. At least, we learned something about what the highest aspirations of Western cultural heritage can offer. At Blumka Gallery, you will be rewarded many times over.

Exploring the Outsider Art Fair

Gaela Fernandez, Creative Growth Gallery

Whoever missed the Outsider Art Show this year missed a lot of fun. Lots of interest and enthusiasm shown on the faces of fairgoers. Not used to seeing so much courtesy and information provided by dealers speaking with people I was pretty sure were interested but not able to buy the often expensive art on the walls. I saw one dealer giving a lot of time to students who were taking notes while a couple of well-heeled potential clients cooled their heels in her booth.  Maybe it wasn’t good business, but I liked what I saw.

 There were two notable things about the exhibition. One was the very high quality of the offerings and the other was steadily rising prices. Outsider art has moved into the big time, although the highest price I found was the $260,000 for a Martin Ramirez graphite, tempera and crayon drawing on paper, 48 x 36 inches.  AT Creative Growth Gallery, Oakland, California, there was a Judith Scott ball of twine priced at $50,000. (Currently Scott has a show at the Brooklyn Museum curated by Catherine Morris, an OTE alum). The photo, seen left, is of the woolly ball and Gaela Fernandez, the gallery’s Paris representative. Almost as much as the $60,000 asked for a Henry Darger mixed media work on paper, 8.5 x 11.75 inches from 1950, depicting a fierce looking military man.

 At Marion Harris the strange photos of dolls who are posed as children, and who look like children, by Morton Bartlett, are priced in the $22,000 range. Can I say I enjoy them but at the same time they creep me out? Well, I just did.

 What did I think was the most exceptional work in the show? Since I think it may be the closest to fine art, albeit by an untrained artist (although trained as a draftsman), the extraordinary living buildings by A.G. Rizzoli struck me as most memorable. “A Building with Mr.and Mrs. Harold Healy Symbolically Sketched” from 1937, revealed how one artist’s thinking process worked. He apparently loved the Healys because he made their elegant lofty twin towers very beautiful, while their unliked cousin was a square concrete box, and a rambunctious 3-year-old became his own structure. The artist predicted the rambunctious boy would become mayor when he grew up. While  the kid never made it he did actually run for the office as an adult. Bonnie Grossman, the director of The Ames Gallery in Berkeley, California, (see below) stands in front of one of Rizzoli’s great buildings. While this one is priced at $92,000, there are a number of smaller drawings that are in the $2,000 range.

Bonnie Grossman, The Ames Gallery

 I’ve always like the work of the mysterious Gayleen Aiken at Luise Ross Gallery, her depiction of her imaginery family, all carefully named and described in detail, have always fascinated me, and their prices, $8,000 and $12,000, seem within reason for a true outsider artist.

 All in all, a show that should not have been missed by anyone who enjoys the art of the unknown by the untrained.

Exhibitions in Winter

Susan Teller, Director of Susan Teller Gallery

We attend some exhibitions because we expect to learn something new about art, antiques or various noteworthy collectibles, and some we go to because we hope to be surprised.

 And that’s exactly what happened on Sunday at the newly named “Metro Curates,” a channeling of the Folk Art Show of yesteryear. The slightly off kilter photograph, the eccentric cabinet object, and the amazing folk art object came together for a few days in the Metropolitan Pavilion. New off the drawing board contemporary art seemed somewhat out of place, perhaps because it wasn’t weird enough, but there were plenty of old folk friends who filled that bill.  Also somewhat startling was a wall of early works by William Baziotes at Susan Teller Gallery. Hadn’t seen those before and thought they seemed as far from Baziote’s mature style as does Roy Lichtenstein’s early work differ from his exploding Pop Art images.

Since the Estate of William Baziotes does not permit photographs of his  work on display, we posed Ms. Teller in front of partial images of Hugh Mesnibov and Ann Ryan, whose estates she also handles.

Hours later, at the annual Winter Antiques Show at the 67th Street Armory, the splendor of the best in 18th/19th century furnishings, art and ceramics was revealed. Although the antiques market in general has declined, the Best of the Best never does, whether in fine or decorative art, and there were outstanding artifacts in this fair’s edition. I was particularly impressed by the gorgeous chandeliers and lighting fixtures, and some lovely paintings that fill the eye in the way that empty idea canvases do not. In front of a John Singer Sargent and a Childe Hassam painting are Fran Zeman and Ellen Epstein, both appraisers with ASA and RICS designations, and Alan Adelson, Assistant Director of the gallery founded by his father, Warren Adelson, and notable for work by Sargent and Mary Cassatt. Alan is among a new generation of art dealers to join the ranks of the many sons and daughters of established gallerists.

Fran Zeman , Ellen Epstein and Alan Adelson

 The Winter Antiques Show runs through much of this week, but if you were lucky enough to get there over the weekend you’ve missed the slough through the snow that lays ahead. Good luck.

 By Elin Lake-Ewald

Estates & Attorneys: OTE at Heckerling 2015

OTE’s first year at the Heckerling Institute on Estate Planning was full of talk of Art Leasing and Fractional Discounting. That we offered these services seemed to surprise attendees who tended to be more familiar with business valuation.

It was probably the first time that any of the attorneys or financial planners discovered that an art appraisal firm was capable of complex valuations outside of the usual insurance, resale or donation practice.

One conference highlight for OTE representatives was the chance to speak with some of the attorneys involved in the recent Elkins case. When the Fifth Circuit awarded the Elkins family a $14.4 million estate tax refund and allowed for the use of fractional interest discounts for artworks, it was a great thing for collectors and OTE.  This was exciting for us as, more than twenty years ago, OTE was the first firm to successfully win a substantial discount for our client in an estate that contained works of art.

This was also the first time the OTE unveiled our new brand image and we were proud to have a clean new aesthetic to bring with us to Heckerling.

We were extremely happy with the positive response we received from the people we met at the conference and we are excited about participating again in 2016. See you there!

What to Look for When Collecting Photography (Part II)

On the most basic level, starting a collection in photography requires thought about the type of photography you actually like. Possible categories could include black and white, color, landscapes, nudes, living, vintage, documentary etc. Movements in photography are also good ways to define what you are looking for (Modernism, Pictorialism, War Photography etc). This seems simple but knowing how to define what you like is the first step to making successful purchasing decisions. Each of these different categories or movements will have specific knowledge associated with each.

Deepening your knowledge in these areas will help one develop an “eye.” Having an eye for art can come naturally for some but usually it requires years to perfect and is often difficult to obtain and maintain, even for appraisers.  For this reason seeing accurate documentation on anything you purchase, and keeping accurate documentation yourself - how you obtained it and when, should be a priority. Building a written inventory will ultimately save you a lot of headaches later on should you want to sell, or the work is stolen or damaged.

As art experts for the Public Administrator of New York, who handles estates without a will, we experienced just such an issue. Two senior appraisers from OTE were going through piles of mixed objects removed from the apartments, which included jumbles of furniture, framed artworks, collectibles, libraries and miscellaneous materials. Spread across several work tables, was a huge mass of what appeared to be old Kodak film boxes.

Looking through the meticulously maintained photographs, an anomaly considering the rest of the disheveled apartment, they had inadvertently stumbled upon the work of a real artist. Without OTE the collection of photographs by Harry Shunk and Janos Kender, great documentarians of the Paris/New York art scene in the second half of the 20th century, might never have been discovered.  The director of a major French museum and those of American museums and film societies arrived to review and the Public Administrator was persuaded to set up an auction for the photographs to be sold as one gigantic lot rather than dispersing them overtime. 

Excitingly The Lichtenstein Foundation, thanks to Dorothy Lichtenstein and Jack Cowart, acquired the massive collection at auction for $2 million.   After this the foundation began the collating the collection and set up a system to allocate segments of the collection to many museums worldwide.  The photographs are now considered invaluable in recording the history of major artists of the second half of the 20th century. A triumphant conclusion to what had almost become a treasure lost forever.

Feel like a bite? OTE's edible appraisals

A Mayan chief forbids a person to touch a jar of chocolate, (more than a thousand years old, via wikimedia)

In honor of Thanksgiving, a holiday with a distinctly foodie focus, we thought it might be fun to have a blog post dedicated to our experiences with food art.

Unsurprisingly throughout art history food has been the subject of many a painting/ sculpture/print/wood carving, and, let’s be honest every other kind of medium. Recent times have shown that it is more than just a subject. Contemporary artists have transcended merely depicting food to using it. Take Rirkrit Tiravanija’s conceptual installation/performance piece untitled (Free). Originally shown at 303 Gallery in 1992, it was recreated at MoMA as part of the Contemporary Galleries: 1980–Now installation in 2012. The exhibition converted a gallery into a kitchen where the artist served rice and Thai curry, using food as the medium with which to create art and a unique visitor experience. This piece is not alone.  In 1958 during the exhibition The Specialization of Sensibility in the Raw Material State into Stabilized Pictorial Sensibility, The Void Yves Klein served blue- cocktails to gallery visitors asking them to literally consume the artwork. Vik Muniz, a Brazilian artist is well known for his chocolate syrup drawings, one of which was of the Leonardo's ''Last Supper.” 

Chocolate

However, OTE has found that there are some unique challenges for owners of art using material as short-lived as food.

One of OTE’s many memorable appraisals, this case featured an artwork made of white, milk and dark chocolate and ink jet print laid on canvas. The damage was the result of a gust of wind that had caused fragile portions of chocolate to separate completely from the canvas. Sadly, the lost pieces of chocolate were not recovered. This was not the only damage the appraisers discovered. In one corner there was evidence of a mouse having nibbled on the yummy artwork. In this case the artist had intended for the work to “evolve,” which actually allowed for the loss of some of the chocolate and tampering from rodents and other animals. Less cute was the appearance of mold on other parts of the piece. The extent of the damage meant that it would need restoration, and ultimately sustain a substantial loss in value. Restoration required consolidating and re-adhering lifting/peeling areas of the material; unfortunately both costly and time consuming.

Another dilemma au chocolate involved a painting where the artist had stuck M&M’s to canvas, covering them in resin, and using them to dye the surrounding surface. Some of the M&M’s had become damaged (as seen in the picture below) and we had to determine whether this was the result of some sort of accidental damage or whether it was the inherent vice of the materials (i.e. the result of the materials themselves).  Research included some interesting conversations with a confused and curious customer service representative from Mars (the company that owns M&M). From her reaction we gathered that Mars did not often get questions like: what is an optimum temperature for an M&M? How long does the dye on an M&M last? How long would it take an exposed M&M to deteriorate, and what would this be if say the M&M were covered in, hypothetically, something like resin?

Detail of the damaged work

What we found out was that once you open the bag, Mars pretty much doesn't care what happens to M&M’s and really doesn't like to speculate. What could be extrapolated was that in the bag M&M’s should be stored at around 70 degrees in a cool dry place and that when exposed to heat M&M’s were likely to deteriorate more quickly. Probably, the Mars rep grudgingly admitted, it wasn't a stretch to say that M&M’s were indeed likely to deteriorate naturally over time, even when covered in resin. Following this data collection process, and our examination of the piece it was determined that it was the inherent vice of the M&M’s that was responsible for the loss. Mice, it seems, were not as industrious as our previous case had led us to believe.

If you choose to own something as wonderfully transient as art made with food, expectations of the work should follow accordingly. You may have to face the fact that something wants to eat it.

Walking Off Art, Just Off Madison

On Wednesday night, in the now arctic Manhattan, during an art walk entitled “Just Off Madison,” American Art dealers opened their doors to give art lovers who actually work during the day an opportunity to view some pretty good art that art journalists seldom report about these days. Seduced by All Contemporary Art All the Time, they would have missed the fabulous “Bal Martinique,” a 1928 oil by William Glackens of an exuberant and wildly colorful dance hall, traveling to the Barnes Foundation. The coy response by the Kraushaar Gallery assistant when the price was asked was “above $500,000.” I had guessed closer to a million. Why the secrecy?

Pamphlets from participating galleries

 Graham Gallery was showing two Norman Bluhms, vividly colored and exciting paintings at $150,000 for the 72 x 48 inch, and $65,000 for the 30 x 22 inch from 1961. The Remington “Bronco Buster” from 1895, 23 x 20 inches, was priced at $285,000. There was a room filled with rather wonderful sculpture, definitely worth a visit – or two. Debra Force showed Wyeth, Conner Rosenkranz displayed pieces that included Paul Jennewein, and Menconi + Schoelkopf had a really beautiful “Little Girl in Large Red Hat,” circa 1881, sitting opposite the entrance of their space, as if waiting patiently for some kind visitor to take her by the hand and out of the madding crowd. 

Cold weather may have kept many away, but the good thing about this art is that it is still there and right off Madison Avenue.

Written by Elin Lake-Ewald

Fragments of Adam: an OTE Case

The separated head and torso looked disconcertingly familiar to me when they appeared in a photo on the front page of The New York Times on Sunday, November 9th. “Recreating Adam, From Hundreds of Fragments, After the Fall.”

Screen capture of the New York Times article 

The history of how it happened, the secrecy that ensued, the resurrection, and finally, revelation is the plot of this terrifying tale of Tullio Lombardo’s great Renaissance marble masterpiece. I hadn’t felt able to speak about it in detail for 12 years. A promise is a promise.

After the fall, when the initial horror of the museum staff had worn off, but only slightly, a few of us,  engineers , technicians and art specialists, were called upon to render professional opinions about what had gone wrong and what was going to be done about it. I and a colleague from this firm were led, as if to a chamber of horrors, into the conservation laboratory where the sculpture lay, shattered  yet still magnificent .

The papers write of it as if it had been scattered in a thousand fragments across the marble floor of the Velez Blanco Patio at the Met, but I remember it as retaining recognition as a very late 15th century Lombardo, head and much of the torso and one leg intact. I can’t recall exactly because I had to turn over all my photographs immediately after our report was rendered. Those were the days before digital where nothing dies. I guess those were the “28 recognizable pieces” that Met conservator Jack Soultanian mentioned in the newspaper article. The rubble had been bagged and identified.

From time to time, from hushed voices, we learned a little about what was going on in the lab, but very little. Massive amount of research were undertaken by this firm and we traced the sculpture back to its original site. The Renaissance scholar on staff, Leatrice Mendelsohn, was amazing in her pursuit of all the critical information required to help me arrive at a value of the sculpture before the fall and how much the piece had lost in value because of the damage.

A few months later I sat at an endlessly long wood table in a secluded section of the Met of which I had not been previously aware, facing what seemed to be an endlessly long  line of dark suited attorneys representing the multiple organizations and firms involved in the disaster.  Oddly enough, I don’t remember being scared because I was so overwhelmed by the grandeur of the setting, with light streaming down behind the group of what appeared to be judge types sitting to my left. I felt like it was an old Warner Brothers film about the trial of Charles the First.

Okay, not to prolong this because, after all, I survived and am writing this blog now. I mean, I wasn’t the one at fault anyway. I didn’t push Adam off his pedestal. The fact that its six foot three, one thousand pound marble body had been standing for so many years on a modest wooden pedestal might have had something to do with the disaster.

So it was with relief that I found that the Met has decided to open the floodgates of information, always a wise course to take, and one that suddenly seems in favor at major museums nationally. So much better than having misinformation leaking out in bits and pieces and that can prove far more detrimental than a simple admission and explanation.

I wonder if reality shows have been influencing all of us.

Written by Elin Lake-Ewald

An Unusual Man: OTE Founder James St. Lawrence O'Toole

OTE’s founder was an unusual man; born in Baltimore in 1895 to an American mother, James St. Lawrence O’Toole brought to the art world the charm of his father, the Irish air attaché to the U.S., and former World War I flying ace.  He studied at Trinity in Dublin, after which he spent several years in Europe where he worked for Jacques Seligmann et Fils. Between this and his travels back and forth between the States and Paris that he gained his extensive knowledge in fine and decorative arts. During this time he worked at the Hotel de Sagan in Paris and at the New York branch at 5 East 57th Street.  

Shortly before the Second World War hit he met and later married the opera singer, Diodata Dandi, who had come to the States to teach belle canto voice to Americans at the Peabody Institute. Not long after James St. L. O’Toole joined the army and became a member of O.S.S. (the forerunner to the CIA) parachuting into France at one point and evading capture as a spy. A historical novel about the time, Surrounded by Howard Burman, claims that at some point O’Toole even posed as an "art consultant" to Herman Göring in Switzerland until he was discovered after trying to pass off a fake Vermeer painting. While we can’t confirm or deny this but it certainly adds to the legend that is James St. Lawrence O’Toole.

After the war ended he returned to a more sedate life in New York. He and his wife had purchased a town house and began an association with the Paul Reinhardt Gallery. In 1932 he established his own eponymous gallery that later morphed into O’Toole-Ewald Art Associates, Inc. His clients included celebrities in both the worlds of society and politics. Lawrence O’Toole also testified in a number of high profile art trials during the 1930 and 40s.  

By the 1980s when Elin Lake-Ewald became a partner and the organization had offices in Manhattan and Venice, where James O’Toole lived half the year.  His friends and associates came from nearly every country on the globe and when he died in 1988 the rooms of the American-Irish Historical Society were crowded with those who had benefitted from the many years of his wisdom and words and his vast knowledge of the wide world of art.

Opening Night at the IFPDA Print Fair 2014

Opening night at the Print Fair brought crushing crowds and some amazing power on paper!

 A growing market for early 20th century British printmakers seemed to grow exponentially as several dealer booths focused on displays by Sybil Andrews, CRW Nevinson, Claude Flight, Margaret Barnard, Cyril Edward Power, and Lill Tschude, much admired but scarcely known in the US. Prices ranged from the low $30,000s to over $100,000, so it’s clear that there is as strong market for these vigorously colored linocuts. Kempner Gallery appeared to have the largest selection.

 Equally striking, but in the most subtle of ways, was an unusual series of eight silkscreens by Fred Sandbeck priced at $25,000. Famed for his string sculptures, these prints showed the varied configurations of a structure of strings as if it were in motion. At Diane Villani, publisher.

 At Barbara Krakow was another series of nine geometric black and white silkscreens from a set of ten (I still can’t figure that out), by Sol Lewitt, from 1982, and also priced at $25,000.

 So much to see and so much to remember, but two prints whose images remain with me: an engraving by William Black of Chaucer’s Canterbury Pilgrimage for $60,000 at the Fine Art Society of London, and at Hill-Stone an etching of Death and the Knight, a beautiful impression, for $225,000.

 This year may have brought in the largest group of non-American dealers that I can remember, and certainly a great number of non-New York dealers, a good many from Chicago. Definitely a sense of energy and excitement prevailed, but the increase in prices for prints was discernible. Perhaps, at any price, prints can be made to seem like near giveaways in the light of the  prices at the auction sales currently going on.

Written by Elin Lake-Ewald, Ph.D, ASA, FRICS

What to Look for When Collecting Photographs (part I)

"A True Photograph need not be explained, nor can it be contained in words" - Ansel Adams

While this holds true in the visual appreciation of a photo, when purchasing at auction you may want to be a little more loquacious. At a lecture in conjunction with Heritage’s October photography auction in New York City, OTE staff picked up some tips for collecting photographs. Rachel Peart, Heritage Director of Photography and Alice Sachs, the President of Art + Business Partners and an avid collector of photography, stressed a number of elements important for buyers to evaluate, whether purchasing from an auction or private sale.

The market for photography has remained relative stable over the last couple of years and as of June of this year ArtTactic reported the overall confidence in the market increased by 9 percent. Sales at auction have also increased. The Modern Photography market saw a 22 percent increase and the Vintage photography market had a particularly large increase of 125 percent, while the market for Contemporary photography remained the same from 2012 to 2013 (ArtTactic Photography Market Report January 2014). However, it is the Contemporary market that continues to drive sales at the top end. Prices for iconic photographers (i.e. Man Ray and Alfred Stieglitz) can get into the hundreds of thousands of dollars while a large percentage of sales are affordable, under $10,000.

The photography market is a tricky one. Collecting is often motivated by rarity and personal aesthetics, which makes paying attention to a photograph’s catalog description key.  This may seem basic, but interpreting how a photograph’s print date and the print type relate to an artist’s market is more confusing than it looks.  In a typical description of a photographic lot at auction there is the artist’s name followed by the italicized title and a date (in red in the example). This represents the 'negative date' – the date when the photographer took the image. 

Example of a catalog description from the Heritage October 16, 2014 Photographic Auction

Example of a catalog description from the Heritage October 16, 2014 Photographic Auction

The actual date when the photography was printed is usually found either next to or as a part of the type of print (gold star above). For the Bernice Abbott photograph above “Vintage” is the only indication of when the photograph was printed. Some photographs, like the Cindy Sherman photograph on the right, are accompanied by the exact printing date (also in red). The print date informs a collector about how the specific photograph fits into the timeline of an artist’s body of work. The context of a photograph produced significantly later than the negative date is different than one printed close to when the photograph was originally taken and is a variable to be taken into account when purchasing.

Here is a guide to non-specific print date references:

• Vintage Print: printed within five years of the negative.
• Early Print: printed within ten years of the negative.
• Later Print: printed at least ten years after the negative.
• Modern Print- printed many years after the negative.
• Posthumous Print: printed after the death of the artist.
• Contemporary Print: currently being printed.

How much the date of printing matters in the valuation of a photograph depends on the artist. Bill Brandt’s (British, 1904-1983) later prints are darker and are valued differently than his early prints. Some descriptions will specify the person who printed them. If someone other than the artist printed the photograph it can have a strong impact on value; positive or negative, depending on their relationship with the artist. Photographs by Ed Weston (American, 1886-1958) printed by his sons are considered valuable because they were trained by him and followed his methods, but if the photographs were printed by another party this would likely not be the case. The type of photograph (the process used to create the print) is a variable that should not be overlooked.

The most common types of photographs seen at auction are:

• Gelatin Silver: a black and white print made from 1870s to the 20th century.
• Chromogenic prints: (also referred to as C-prints) color prints made since 1940.
• Dye Transfer: color prints made since 1928.
• Digital prints: (also called Digital Inkjet prints) a printing process developed recently.

In looking at the type of print it is helpful to know an artist’s typical practice. While rarity is often a positive attribute, this is not true in all instances. Ansel Adams is well known for his gelatin silver photographs in black and white and though his color photographs are rarer they are not as well received at auction. Aesthetic considerations aside, successful purchasing decisions are often based on understanding what specifically to pay attention to for an individual artist.

This blog referenced information from:

• Ansel Adams, Glossary of Photographic Terms, http://www.anseladams.com/ansel-adams-photography/original-photographs-by-ansel-adams/glossary-of-photographic-terms/
• ArtTactic, The Market for Photography, http://www.arttactic.com/art-markets-home-pages/photography-art-market.html
• Definitions of Print Processes, http://www.photoeye.com/Gallery/Definitions.cfm
• Catalogue Examples from Heritage’s October 16, 2014 Photographs Auction

Piano Restoration: A Sound Investment

When you own something as melodiously beautiful and expensive as a Steinway piano there are factors to be aware of in the event of water damage. From a pipe leak to hurricane Sandy, OTE appraisers have found that water and moisture are among the most common and harmful types of damage to pianos.  Piano cases are made of wood and are particularly susceptible but then so are most of the parts:  the felts, keys, soundboard, pin-block, tuning pins and strings, etc. Prolonged exposure to water can even lead to corrosion and rust in the metal components.

There is, however, a solution. When Alanna Butera, an OTE specialist appraiser, visited the original Steinway factory in Queens, she saw firsthand how Steinway pianos are built and restored.   

Steinway Grand Piano,   Photo: © Copyright Steinway & Sons via Wikimedia Commons

Steinway & Sons, one of America’s leading piano manufactures, was founded in 1853 by German immigrant Henry Engelhard Steinway who began as a master cabinet maker.  By 1900 the factory had moved to Long Island City in Queens which is still in operation today and where pianos are built and repairs take place.

A Steinway Grand Piano can take over a year to build through handcrafting. Not only does a Steinway piano produce beautiful music, it is an excellent investment.   According to Reuters: “A 10 year old Steinway in good condition, usually sells for about 75 percent of the current retail price, which goes up about 4 percent each year;” that’s a lot better than your car. Steinway even issues a five year warranty on their repaired pianos, the same warranty they give to new pianos.

From an appraisal standpoint, a damaged Steinway piano repaired by Steinway can be valued at 85% of the current retail price of a new one. But restoration isn’t cheap. In our experience the cost for a restoration caused by water damage is approximately $30,000 to $40,000 for a single grand piano.

View fullsize

Close up of a piano in progress at the Steinway factory

View fullsize

A peak into Steinway's factory in Queens

On the positive side, what our appraiser observed at the Steinway factory is that you can be certain time and care is taken in restoration efforts.  When Steinway restores pianos they keep the cast iron block and original case, barring any extensive damage to either. They then refinish, re-guild and replace all the hardware with Steinway parts, entirely by hand. Steinway still continues to provide hand rubbed finishes. To maintain the value of a Steinway piano, restoration and replacements should be done solely by Steinway, using only their authentic parts. Steinway restorations come with a certificate, so if you are thinking of selling make sure to hold onto it. 

Steinway calls their pianos a “sound investment” and we happen to agree.

A Visit with Scotland Yard

Fortunately, I wasn't under arrest when my fellow appraiser Ellen Epstein and I spent the morning in Scotland Yard last week.  We were in London for the Arts and Antiques PG Board Meeting, for the Royal Institute of Chartered Surveyors (RICS) and were visiting Scotland Yard on official appraisal business. 

At Scotland Yard my colleague from RICS and I, met Detective Sergeant Claire Hutcheon, head of the “Organized and Economic Crime Command – Art & Antiques Unit.” Detective Hutcheon, an attractive woman who has worked for Scotland Yard for more than 14 years, discussed with us some of the experiences she had had in her career; but like much of police work un-publishable until the perpetrator is behind bars.

However, as representatives of RICS Personal Property/Art & Antiques Committee we were specifically interested in the professional standards for valuers (appraisers) in London. For example: what does it take to be taken seriously by the police if asked to value stolen or missing works of art?  Compared to the USA, Europe’s requirements for appraisers are far below those of US practitioners, something that is readily admitted by everyone in the London art world. In some countries there are no discernible standards at all. However, Detective Hutcheon mentioned that England and France were working towards an agreement that would raise the level of professional standards.

Change seems to be in the air. Those with whom we spoke – police, attorneys, non-profit organizations, and representatives of professional entities, stated that they hope for a tightening of the rules governing appraisals by independent appraisers.  We were told that at the moment, the only due diligence generally performed is through the Art Loss Register, which affirms whether a work has been stolen. 

View from the roof of the RICS building in Parliament Square

It is anticipated that this will change with the implementation of The Red Book, which would be an international source of regulations and standards for appraisers worldwide. This document would help to unify standards globally, whether dealing with real estate or fine art.  Even now regulations are being standardized internationally, as are the ethical rules imposed on all practitioners.  It may not be long before The Red Book becomes required reading for those internationally who have any participation in the world of art.

There are well over 160,000 RICS members worldwide and growing.  At the moment there are relatively few practitioners in America, but the world is opening up and I can see a future where there are singular and stringent regulations regarding good business practice in all nations. Sort of a One World concept, but not altogether so bad a thought.

Written by Elin Lake-Ewald

Appraisal or Estimate? Why Free Is Not Always Better

I spoke with someone recently who told me how they got all their appraisals for “free” at auction houses. What they got were not really appraisals but estimates of value.

An estimate by an auction house will likely only reflect what the auction house believes the seller will receive at auction. These sorts of “appraisals” are not good for insurance purposes and are not viable in court. Most art insurance policies rely on the retail replacement value, meaning the compensation would be for the retail value  of an artwork, as opposed to the price at auction (which is usually lower than a retail value).

This article is by no means knocking auction houses, which have amazing experts and specialists, but it is important to understand that an auction house’s primary job is to sell art, and offering a free estimate is one way to draw in business.

If you go to an auction house and are not serious about selling with them but merely attaining a value this is probably not the best option for you. Although auction houses have a considerable amount of information at their disposal, they rarely have time to conduct extensive research into an artwork that is not being consigned to them. A free estimate is not necessarily giving your artwork the time and attention it deserves.

The case of Ravenna v. Christie's in 2001 is a good example of relying too heavily on a free estimate. Guido Ravenna sued Christie’s as a result of his wife’s meeting with an Old Master Specialist at Christie’s in New York after she was given mistaken information about the provenance of the painting. The Old Master’s specialist, after only seeing photographs of the work during their short meeting, valued it at between $10,000 to $15,000, as he thought it appeared to be the work of minor 17th Century Italian painter, Nuvolone. Ravenna, then sold the work for $40,000 to a dealer who only months later consigned the work to Christie’s. 

The Lamentation, by Ludovico Carracci

This is where it gets a little sticky. After the painting was examined again, it was determined to be a work not by Nuvolone but rather by Italian Baroque painter Ludovico Carracci, who is far more significant. The Lamentation, as it was renamed, was sold at auction in 2000 for $5,227,500 to the Metropolitan Museum of Art where it now resides. Ouch.

Heritage Auctions does a good job of explaining how auction house appraisals/estimates work:

“Usually, the request for an "appraisal" actually refers just to an evaluation for the potential value of an item through auction or private sale… Heritage regularly provides quick and free evaluations of the current market value of art or collectibles. This is in the form of a verbal or written auction estimate — the range of value that one would expect to see the item sell for in today's auction market. This valuation is not intended for use as a formal appraisal or for any purposes of establishing a value for insurance, tax, estate planning, collateral or third party transactions.” (Heritage Auctions - Defining Appraisals)

If you want to divest an artwork quickly, auction houses are the way to go. But if you are serious about finding out about the value of something you own, make sure you get an authentic written appraisal from a USPAP certified appraiser.

Gold, Fine China, and the Truth About Tarnishing

Have you ever wondered what the word “gilding” means? It’s an ultra-sensitive and very beautiful decorative treatment that turns a surface into gold without actually creating something made of gold.

Gilding generally refers to the liquid gold applied through paint or other techniques to porcelain and other ceramics. The good news is that it looks lustrous and lovely when first applied.  The bad news is that it shows wear when used frequently and is sensitive to its environment. In fact, after working with a recent client an O’Toole-Ewald appraiser found that it doesn't always require heavy usage to cause distress to gilding and that the saying that gold never tarnishes can be disproven.

Porcelain saucer with gilding

About 20 years ago the client bought a beautiful bone china set decorated with extensive and intricate gilding. It had been placed in storage and when she recently retrieved it from the box in which it had been resting for two decades she found that the 24 carat gilding had taken on a red/black discoloration. Tarnishing film often looks red or black in appearance depending on what base metal is used, copper or silver respectively. However, it is extremely rare for high carats of gold to tarnish, so this case was at first a bit of a mystery.

While pure gold is not susceptible to tarnishing, almost all gold is mixed with some small percentage of other alloys, which can be vulnerable to tarnishing would only seen below 14 carats. In some cases 14 and 18 carats or even occasionally higher carats can tarnish, but it is extremely rare in gold as high as 24 carats.

If the base metals, in particular copper or silver, are exposed to corrosive agents, especially sulfur and oxygen compounds, tarnishing is entirely possible. Moisture, perspiration, perfumes, how you wash it, the water in which it is washed and even some foodstuffs can be responsible for the corrosion of gilding. But because the china in this case had never been used, it was unlikely that any of these were the culprits.

Through expertise, persistence and considerable in-depth research, OTE was able to determine the prolonged exposure to the organic sulfur containing compounds in the storage bags, in combination to the oxygen and sulfur in the atmosphere, had caused the gilding to discolor. The damage was determined to be inherent vice resulting from the chemical reaction of the gilding in its storage containers.

 This case is a rarity. In India and the Middle East, especially, there have been more incidents of the tarnishing of higher carat gold, which appears to be a problem more specifically linked to the region. In Europe and North America tarnishing in higher carats of gold is much more unusual. In the past 30 years, there has been only one other instance, filed with the manufacturer of this china, of red and copper discoloration occurring on the gilding. Without the persistent research efforts of OTE appraisers combined with scientific sleuthing, this case may not have been solved.

Why It Is Important To Insure Your Art

In New York City Hurricane Sandy was a wake-up call for many art enthusiasts to insure their art but there is still a lot of uninsured or underinsured art out there. According to Kathryn Tully in 2012 article for Forbes “the premium value of insured art globally was somewhere between $500 million and $1 billion. If those estimates are right, there’s a lot of uninsured art out there.”

Many people have collections of art, or perhaps just one valuable piece but rarely know exactly what they are worth.  It is surprisingly easy for a painting, sculpture or even a more experimental piece of art to be damaged due to some unforeseen event, which is why it is important to be aware of its value. This summer alone there has been a significant amount of flooding in the tri-state area, and this has resulted in thousands of dollars in damages. 

To protect your investment obtaining an appraisal of the retail replacement value means that you will be sure you have the right insurance coverage. The majority of standard home-owners insurance policies have limitations in regards to what can be reimbursed in the event of damage or loss to art and antiques.  So it is a good idea to look closely at your policy if you are not exactly sure what your insurance covers. 

If you are a serious collector you will probably need a more specialized policy tailored specifically to your collection. Insurance companies that are particularly qualified for this are: AXA, Chubb, and AIG.  However, it is still important to be aware of your art’s value as the years progress.

The art market is continually fluctuating which is why it is a good idea to update these appraisals every couple of years. The value of your art will probably change with the shifting market. Unlike other luxury goods, such as a Chanel handbag or a BMW, a work of art is unique and difficult to replace.  This is why using an appraiser who is USPAP (Uniform Standards of Professional Appraisal Practice) certified and a member of the ASA, RICS, or ISA, is essential.  An appraisal by a qualified appraiser will be fully researched and legally sound. And always make certain, no matter who the appraiser is, that he or she has the right experience to evaluate the specific piece you own.

July 2014 Museum Tour

Yesterday was  Sunday and I thought an appropriate day on which to visit the Museum of Biblical Art (MOBIA), expecting to see some brooding Renaissance paintings of saints and sinners, the cousins of which I remember seeing there a year or two ago on Broadway and 61st Street. Yes, it’s been that long, but it won’t be in the future.

Actually I went for a presentation by Mary Temple of light images which turned out to be way beyond what was expected. These are strangely beautiful  shadow paintings, images of the outlines of leafy trees cast against sides of buildings and interior walls, often with no light source at all, but deceptively realistic. And that’s what the artist is after -the trompe l’oeil effect. It’s quite lovely, extraordinarily painstaking work.

That is what is great about Manhattan – the unexpected bonus that comes with a casual visit to a not very well known (at least in the local art community) museum that has been around quite a while. The unexpected continued with the exhibition in the main gallery of “Back to Eden,” where the work of some of the art world’s better known practitioners was on display.

It was Eden all over the place, as interpreted by Jim Dine, Barnaby Furnas, Fred Tomaselli, Pipolotti Rist, Alexis Rockman and Adam Fuss, among several other artists who had taken on their personal  interpretation of what was really going on when Eve bit into the apple while the serpent smiled.

No, there are no photos of this exhibition. I was so taken aback by the show that I was three-quarters of the way to the Museum of Art & Design before I realized my mistake and my feet insisted I keep going.

I do have three photos from that show – well really shows, plural – since there are five floors of exhibits to wander through. One floor had selections made by the Director David McFadden from his 16 years as head of the museum. There was a tremendous amount of material to see, but frankly, it’s more than a little confusing to figure out who did what. The accompanying booklet didn’t really help and I didn’t see many people using it anyway.  Perhaps some minor changes will be made to clarify the viewing when the MAD Biennial continues its series of exhibitions examining “cultures of making in urban communities.” Cultures of making?  Does that mean creative work in various media? I think that’s what I saw.

Chelsea Art Walk 2014

Last night OTE’s team took advantage of the late gallery hours in Chelsea. Below are a few shows and works we found most noteworthy.

We all enjoyed seeing Tara Donovan’s enormous installation pieces at Pace Gallery.

In this work, the millions of acrylic pieces create a mesmerizing shimmer. The form recalls a fluffy puppy. A reaction to Jeff Koons, perhaps?

Dr. Elin Lake-Ewald thought that Pierre Dorion’s trompe-l’œil paintings at Jack Shainman Gallery were riveting – about the best examples she saw on the walk.

Meanwhile, Dr. Ewald found it not altogether surprising that most of the larger galleries closed on the Chelsea Art Walk last night. The art explorers wandering the streets, from 19th  to 26th, didn’t look quite up for a $30 million Christopher Wool or a $50 million Koons production. It was for the most part  the medium sized and smaller galleries who opened their doors (and occasionally their wine bottles), to the Gen X crowds.

The galleries we checked out for the most part had wall works (and sometimes floor works) in the $10,000 – $25,000 range. A well-thought out way to attract potential investors in art.  If a collector has the ability to pay just about anything for what he wants in his home(s) he can visit those spaces any day any time. Or send his art advisors. He doesn’t have to wait until working hours are over. Great strategy. Good show.

Julia Plotkin was intrigued by Nick Gentry’s paintings on mosaics of old floppy disks at C24 Gallery:

and by John M. Armleder’s mixed media glitter-covered paintings at Galerie Richard:

and also by Jerry Kearns’ wall paintings at Mike Weiss Gallery. Whoever buys one has the artist’s studio team come and repaint it in their space, à la Sol Lewitt.

Most of all, Julia loved the fare at Unix Gallery, which offered a box of chocolates by Peter Anton and a lollipop by Desire Obtain Cherish:

Alanna Butera’s choice for the best curated exhibition goes to Procedural Portraiture at Caroline Nitsch Project Room. She was captivated by the intimate interaction between each artist’s exploration of faces, and the different use of media and line to reveal the inner essence of the subject.

Walking into Franklin Evans’ paintingassupermodel at Ameringer McErny Yohe, she was immersed into the artist’s mind and his artistic practice. The walls and floors were adorned with tape, digital prints and photographs.

As the sun set, however, the galleries closed their doors and the OTE team headed home.

Appraisers’ Chatroom July 2014

Art fairs: just when everyone was saying there were too many of them, even in the summertime they won’t give us a rest. Received three invitations in one week to attend fairs in different European countries. How do they have the strength? Spoke to a young woman who’d been to a huge fair in Dubai and she says it was better organized than any she’d been to in US or Europe. I’ll take her word for it.

Stuart Davis, Untitled, ca. 1922, cat. no. 1480 © Estate of Stuart Davis, Licensed by VAGA, New York, NY

OTE is not inviting you to an art fair. We don’t give them, just attend to check the pulse of the market. But for somewhat lighter entertainment we are going to share the link to our new website – no, not today – but soon. This is like a trailer before the show begins. It took a little extra time to receive permission from our artist clients or their estates to use their images. I hope you’ll find it was worth the wait.