When I became an art dealer in 1972 the market for 19th- and early-20th-century American art was a very different place. The few art auctions that were held in major cities were mostly wholesale events attended by dealers. Any significant historical American paintings included in suburban antique sales in New England, where I lived, were usually bought by local antique dealers or knowledgeable intermediaries called “pickers” and passed up the ladder to the few major galleries in New York or Boston dealing in this works. In the early 1970s there were only two international art price guides, printed once a year in book form. They covered only three American auction houses: Parke-Bernet in New York, Weschler’s in Washington, D.C., Eldred’s on Cape Cod and Butterfields in San Francisco. They only listed location, medium, size, title and price with no illustrations. Since most of the literature on American art only began appearing in the mid-1970s, historical records in libraries were the only resource to research the lifetime relative importance of an artist. There was such a lack of awareness of American art at the time that if important paintings were being sold in an estate sale 50 miles from Manhattan without a picture dealer present, the public would have had no idea of the significance of the artworks offered.
Today there are auction houses sprinkled throughout the country posting American paintings for sale online along with uncatalogued, internet-only sites such as eBay. High-quality digital photography and online illustrated price records are the tools that seem to encourage collectors to pay a top price for works of art these days no matter where they are sold or who is selling them.
Given the fact these tools encourage collectors to act on their own, what added value is there for a collector in buying from a dealer beyond paying them for something they didn’t find first or were initially reluctant to pay more for at auction?
It is simplistic to think that an informed decision to purchase works by American artists of the 19th or early 20th century can be based solely on photos and price records because they don’t tell the whole story. Auction houses sell works “as is” with a few major houses offering a limited six-year warranty for authenticity, while dealers offer their works properly conserved, framed and fully documented with an assurance of authenticity, title and condition. While a few auction houses may provide limited descriptions of condition it is rare to have a competent and objective examination unless one pays an independent professional. Furthermore, individual auction records can be misleading as they are unedited and may include forgeries (works painted by one artist with the signature of another), fakes (works made to imitate another artist) and works in poor condition. The prices listed may also be confusing since a price record may be below market value because of a lack of competition at that sale due to weather, economic or political news. On the other hand, it may be too high because two bidders got caught up in a competitive frenzy.
Few people have the time required to scroll the internet, sift through trade publications, sale catalogs and do all the proper research needed to make an informed purchase. Furthermore, navigating through all these tasks, a dealer brings the specialized knowledge to judge its value compared against similar works they have experienced firsthand, by asking the questions: Is it in good condition, is it a representative subject, is it from the artist’s best period, and how does its provenance or exhibition history enhance its value? Dealers know how the artist was regarded by their contemporaries and how they are viewed today by scholars and collectors, aesthetically, historically and monetarily.
George Inness, considered one of America’s greatest landscape painters, is an artist that has been a focus of mine for many years and provides a good illustration of the many possible problems one could encounter in acquiring his works. Most painters arrive at a signature style in early maturity and stay with that style for their whole career. Inness is a notable exception. Passing through at least four distinct stylistic periods, he continued to paint masterworks from the late 1850s until the end of his life in 1894. Although he had a huge output of works, as he was always evolving and experimenting, not all of his paintings were successful. Many of these were left unfinished, later acquired spurious signatures and were presented as finished works. He was also widely faked even during his own lifetime. Finally, there is the matter of condition. Because he painted with glazes, or pigment mixed in varnish, many of his paintings have been over-cleaned in an attempt to remove darkened varnish or surface dirt. Another restoration problem resulted from the past use of heavy presses and excessive heat used in re-backing old canvas, which produced flattened surfaces where no brushstrokes are visible. These are examples of the many kinds of issues that are inherent in an understanding an artist’s work, which take years of education and experience to recognize and evaluate.
Seeking the counsel of dealers is much like working with an experienced money market manager whose advice is sought because of their experience, contacts and knowledge of financial markets. Similarly, through their experience, contacts and knowledge of the art market, dealers provide the guidance necessary to help a collector make good choices. Furthermore, dealers often will allow clients to try works at home before deciding on a purchase. Just as investments are tailored to the needs and desires of individuals, the taste and objectives of collectors guides the dealer who is a resource both in finding works and eliminating the pitfalls that either for lack of time or experience they might face in acting alone. —
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