Friday, February 24, 2012

RESALES OF DAVID LOREN BASS PAINTINGS

Recently I have been contacted by appraisers working on behalf of collectors of David Loren Bass art work. The appraisers need to know the current value of the art work for estate planning purposes of the client.

I have also been contacted by some collectors who want to de-access (dispose of) their David Loren Bass art work for a variety of reasons, e.g. downsizing to smaller living spaces or not having any heirs for the piece.

And, I have discovered two of my paintings, quite by accident. One was listed on eBay and another was in a consignment shop, both of which I purchased at considerably below market value and resold at current market values.

Clearly, there is a need for a service whereby collectors could contact me to resell the pieces for them.

Usually, when an artist sells his work, it is through a gallery or some other representative such as an art agent, a non-profit gallery. The art work is sent out into the world and the artist loses track of it. The art work may stay within a collection for many years. Or, it may be put out on the market for resale. This is called the secondary market. Its value is then determined by the selling agent, usually an auction house, before being put back on the market. Often collectors hope to recoup the initial investment and, if they are lucky, make a profit. Whenever, this occurs, the art work has a trail of value which will follow it as it appears and reappears on the art market.

This scenario may occur with a few of my art works. But, primarily, my paintings remain in private collections and do NOT have a value trail except for the one I have created in my archives over the years. I have increased the value of my work, whereby with each new year's output, the sales prices have gone up. This results in the previously sold paintings out in private collections accruing value. And, only I retain that information which is necessary for an appraiser, secondary market gallery, or auction house to determine a proper current market value on my art works.

I have created a new page on my website to offer this service just for collectors
who wish to resell their David Loren Bass art works. If you are a collector who wishes to use this service, please contact me for details at www.davidlorenbass.com or at 505-466-2557.

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