The Art Market - What the heck is Going on Today

We had such a strong response from our last newsletter on what was happening in the art market we have continued the thread in this issue. And it has been crazy market...

The Kimbell Museum with its reported 350 million dollar endowment has just purchased only one of four paintings attributed to Michelangelo (1475-1564). The 18 ½ -by-13 1/4 painting, The Torment of Saint Anthony, is oil-and-tempera on poplar panel and is thought to have been painted when the master was only 12 to 13 years old. The purchase price has not been disclosed but the estimates range from 25 to 69 million, the latter being the price paid at Sothebys in 2002 for a Ruebens. It is interesting to note in this economic climate that the Met had first refusal but had to pass because of current financial concerns. A New York dealer bought the piece with investors last summer in London for 2 million dollars. The painting will be shown at the Met this summer and then will be placed on view at the Kimbell in the fall.

On May 15th the Chaim Gross collection of African and Oceanic was offered at Sothebys in New York. Of the 81 lots 16 failed to sell. For many Chaim Gross, having begun to collect in the early 1930's, was the last of , as Sothebys noted, "the first generation" of African collectors. A noted American sculptor, Chaim was aided in his collecting by Frank Crowninshield, the editor of Vanity Fair magazine in New York. Some might say that this was a sale with aesthetics versus pedigree with the later prevailing. Critics looked at this sale as being uneven and hyped beyond what the art itself justified. Certainly this negative assessment is somewhat tempered by the superb kneeling Senufo figure selling for $758,500 and the Mbaka figure on the cover sailing over the pre-sale estimate of $600,000 and ending up at $1,258,500. For me the sleeper in the sale was the Yaka mask pictured in Lot 56 and estimated between $6,000 and $9,000. Apparently some buyers agreed driving the price to $22,500. Considering the power, obvious age, and pedigree, i think it is worth more. But in the end it was a good morning for Sothebys grossing almost 5 million dollars.

Sothebys afternoon sale on May 15th also had some fine African, Oceanic, and Pre-Columbian art. Of the 94 lots offered 31 failed to sell. The auction house was, however, I am certain delighted that the sale grossed $5,693,813 with the buyers premium. Quite apparently, at least in this sale, it sems the 6 1/2" x 6 1/2" format did not deter buyers. Some might suggest the high buy in rate might indicate otherwise; however, the final tally is truly the bottom line. Collectors of West Mexico will certainly be delighted with the Nayarit pair that brought $314,500, which may be a new record for this area. I coveted from afar the great Papuan Gulf figure(Lot 146) that apparently impressed a few others as well as it sold for $1,202,500. Some among the buyers knew the Tsonga/Nguni snuff container was once owned by Ray Wielgus and ignored the estimate of $6,000 to $9,000 chasing it to $43,750.

In the May 20th American Indian sale of 226 lots 85 failed to sell, a high buy in rate of 38%. There were some stellar pieces that did quite well The pair of Cheyenne parfleches featured in Gaylord Torrence "bible" on the topic did very well bringing in $116,500. Morton and Estelle Sosland's Kwakiutl sun mask exceeded the high estimate and sold for $266,500. The Barry Goldwater pony beaded blanket strip he donated to the Smoki Museum in Prescott failed to sell at the low estimate of $100,000. Some experts felt the early date of 1830's being tossed around was a bit early for this piece. Sothebys claimed that only four are known, so it will be interesting to see where this piece will finally end up. The Dat so la lee basket (ht. 6 1/4") was estimated to sell between $175,000 and $225,000 but also failed to meet the reserve. Some might attribute this failure to the limited number of buyers at this level, the size of the basket, the sluggish economy, and probably all the above. The total sales with commissions realized $2,681,694. Not bad even with the high buy in.

These sales were significant in that they did offer some encouragement that all is not doom and gloom in the tribal art world. Certainly one might argue that the reserves in Sothebys Indian sale were not realistic and had they been a bit lower the buy in rate would also have dropped. The June sales in Europe are equally important in assessing the health of the market. Critical to the success of these auctions will be strong American participation. Without it I doubt whether the economic malaise Europe is experiencing will motivate many buyers to buy. The great material will always sell. Look instead to the $5,000 to $50,000 price range to see which way the trends are pointing.

IFAR - What can you own, buy, or sell legally

The International Foundation for Art Research (IFAR) has stepped up in a way that should make a major contribution in helping collectors, curators, dealers, appraisers, museum directors, and the media know what can be bought, sold, or owned within the boundaries of over 100 different countries. IFAR has done a great job so far and vows to constantly update the data they have on their website which is viewable at www.ifar.org/art_law.php. In the past it was very difficult to sort through the various U.S. government websites that listed import bans, bilateral treaties, and penalties. Some other sites that provided information have been so political that it has become difficult to sort out exactly what the rules are in black and white. IFAR does not pontificate in offering the relevant legislation from country to country. It is also interesting that they have provided some case history reflecting enforcement of the laws.

Politics will always impact the legislation of cultural property and there will be swings in enforcement with each new administration in each country. Having said this it is clear that the trend is definitely moving away from an open market and towards more restriction. In this environment if you choose to be a participant you better be aware of the rules. My advice is to log on often to IFAR.org to stay current.

IFAR also offers an authentication service, which is something as a professional I have never been very enthusiastic in exploring. As a non profit, it would be impossible for them to have in-house experts in all the fields that they service. That to me means that at least some outsourcing must be contracted to meet the obligations and demands of their clientele. With the internet it is easier now and probably cheaper to find and check out your own experts. Admittedly, I have not evaluated IFAR's price structure in this area. It would, therefore, be prudent to evaluate and compare all your resources before proceeding.

Usually requests for authentication or consulting services are made after the fact when the object has already been purchased and a problem has occurred. Maybe IFAR.s website will motivate people to do their homework before the problem occurs saving money and aggravation for all. Regardless IFAR should get kudos for this free resource.

Sothebys - Getting Small - Good or Bad?

Like many Sothebys subscribers I was a bit shocked in the last several weeks when I received my tribal art catalogs. The old catalog format was 10 1/2" by 8 1/4"... the new format for some of their catalogs is 6 1/2" x 6 1/2". I have no idea how much money is saved in catalog costs and postage by going small but the idea was rationalized as being handy enough to fit in your pocket. The format might fit in a big purse but certainly not in a man's pocket unless he was wearing cargo pants, which is not seen often at the auctions. Both buyer and seller are diasadvantaged by this move. The seller's must log on to the website to get a good view and to check out any research or collection history provided by the auction house. In this economy removing obstacles for the buyers seems more prudent. From the seller's perspective it would have been nice to be informed of the change before consigning the goods. I can't speak for all consignors but I know a client I am representing that has consigned some major objects was not advised. Had we known prior to the sale as consignors we might well have waited until we saw how this new format worked out. It seems short sighted on the part of Sothebys when the differences between selling and not selling could easily be six figures. And remember Sothebys also charges many sellers extra fees for insurance and photography which further offsets costs. We will all find out what happens this next week at the tribal sales.

Sothebys has also, according to the New York Times, sent out more than 10,000 USB sticks (thumb drives) which feature electronic versions of catalogs. This decision is exciting for a number of reasons. First it is handy and you can put it in your pocket. As a collector you can examine all the data including high resolution photographs. It is easily downloaded and sent to colleagues. So what's the difference between between going online and using the thumb drive... simple, ease of use. I don't need to click through all those screens. I have the data where I want it, when I want it. I could live with a 6 1/2" x 6 1/2" format if I had the thumb drive with it.

Journal of Advanced Appraisal Studies

Journal of Advanced Appraisal Studies - 2009



The Journal offered the essay, “A Guide to Appraising African Art” authored by appraiser Alvah Beander as a helpful fact based how-to approach to valuing African art. The article is a combination of inaccuracies and USPAP rehash woven together in a poorly constructed confusing and unfocused mess. And believe me I am being kind.

PRODUCT KNOWLEDGE VS. METHODOLOGY Let’s start at the beginning. Appraising is comprised of methodology and product knowledge. Offering USPAP quotes in an article on the subtleties of appraising African art becomes mere filler for meeting word quotas. In an advanced journal of appraisal studies one would hope that your readers would have knowledge of basic appraisal mechanics and requirements. Otherwise your journal would be called the Beginner’s Journal of Appraisal Studies. Unless I miss the target readers implied by the name, we can all have access to current copies of the Core Courses and USPAP.

PRODUCT KNOWLEDGE FOR UNTRAINED So the assignment really boils down to what useful product knowledge can the author impart to readers that have limited or no background in African art? I would argue that there is a great deal that could be included that would be interesting, thought provoking, and maybe even entertaining. How much can be included that will actually be useful to an estate appraiser sifting through room after room of stuff. In reality when confronted with this idealistic “ah-ha” moment – very little of the facts from such an article will come streaming into your head to assist you in your moment of triage. So Ms. Beander’s article was doomed from the beginning. For this she gets a pass because no matter how well written and how factual the article was, it really wasn’t going to be very helpful. She doesn’t get a pass, however, for sloppy writing and inaccuracies.

Now to the Beander article….

FAKE ART You will note in the photographs in her article the tribal attribution and in some cases the function of the object are stated in the labels. When you do this, you imply that this object is authentic. While I will reserve final judgment after looking at the objects in person or reviewing high quality photographs, at this point I find it highly unlikely that most of these objects from the author’s collection are authentic. When the first line of your essay defines the geographic boundaries of traditional African art and you then quote definitions of authenticity by Frank Willett, one of our greatest African scholars, your objects should be authentic. For me this one fact alone undermines the credibility of the entire article.

INCOMPLETE INFORMATION In one paragraph Ms. Beander jumps from suggesting that Picasso legitimized African art to the sale of a Fang mask that inspired Picasso and sold at Sothebys in Paris in 2006 for $7.5 million. Quite a leap.. if you go in this direction you might want to mention at least once the word Cubism, a movement inspired by Braque and Picasso around 1907. It might be important to note Picasso’s important painting Les Demoiselles d'Avignon completed in 1907 that had obvious influences from the artist's love of African art. It is also important to note that labeling a work cubistic during this time was considered by many to be derogatory and was enough to have the work barred from exhibitions. If you are talking about history it’s significant to note that Matisse and Derain, according to Picasso’s companion Fernande Olivier, came to African art before Picasso.

INACCURATE INFORMATION Sothebys did not sell the Verite Collection it was sold by Enchères Rive Gauche in Paris. As to the mask inspiring Picasso, the catalog made no such direct assertion. The New York Times was somewhat more circumspect when they said: “Though it was kept out of public view for most of the 20th century, the collection made a big impression on celebrated artists such as Picasso, Henri Matisse and surrealist Andre Breton, who saw it in the 1930s.” So could this particular Fang mask have inspired Picasso.. maybe.

NO CONTEXT After the author listed no less than 8 elements of what makes African art authentic, she fails to tell us how this impacts on the appraisal of African art. Instead she quickly transitions to ethical concerns on Kikangu grave posts (http://www.metmuseum.org/toah/ho/11/sfe/ho_1993.522.htm) ; but again she does not tell us how these ethical concerns impact on value.. As an estate appraiser what do you do if you see a Kikangu grave post or for that matter anything else that comes under the header of ethical concerns?

INACCURATE INFORMATION The reader is quickly swept away from ethical considerations to the Convention on International Trade in Endangered Species (CITES). But again Ms Beander fails to instruct us on how we deal with our concerns. The author does tell us that there “is a strong effort to overturn this agreement”. I suspect this was just sloppy writing for there is no strong international effort to overturn the CITES agreement. There have been negotiations with some African countries to re-negotiate aspects of CITES related to elephant ivory. Ms. Beander should tell us why this matters. Can we sell ivory? Have prices increased if laws have changed? How does it impact the appraisal of African art?

NO CONTEXT Under the broad heading “Geographical Differences” the author only mentions Southern Africa omitting North, East, and West Africa. Again are the works from southern Africa worth more, less, and if they are different, why does it matter? Beander does make the statement “they have no tradition of masking or figurative sculpture.” Not true, figures are rare but they do exist. I have thirty works in my auction database that have sold over the past 30 years.

FILLER QUOTES The balance of the essay is a re-hash of Core Courses and USPAP. The author advises you what information to collect about each object of African art. She never tells you why you are doing this or what impact this information may have on your value or triage determinations. I could deal with these one by one; however, ultimately, since she has failed to tell us why this is important, it is irrelevant.

IRRESPONSIBLE FALSE INFORMATION One paragraph caught my eye and must be dealt with. Ms. Beander stated “In New York there are Runners. These African gentlemen travel throughout the country selling to collectors and museums alike. You would need a reference to ensure that you are dealing with a reputable individual. Street vendors are generally selling African art described as fake by Willet.” These statements are nonsense and about as far from reality as one can get. First runners are not only based in New York, they are all over the country and go wherever they think they have a client. In the 1970’s you still had a reasonable chance to find something authentic offered by these vendors. Now unless you are extremely knowledgeable, this is the WORST place to buy or gather information about African art. It has been my experience that these runners are the primary source for many of the fakes I have to deal with in my appraisal business. As a general statement, anything that these runners say must be considered to have little credibility until proven otherwise. For me street vendors and runners are in the same category. Ms. Beander’s recommendation of these runners as being a good source for museums and collectors suggest that runners might well be the source she has utilized. I cannot recall a serious collector or curator acquiring any important African art from runners in the past twenty years. And even if someone got lucky, this good fortune ignores the incalculable misery these runners have caused in the field in the past three decades.

THE JOURNAL DEBATE In my opinion the Journal staff should certainly, at a minimum, have verified Alvah Beander’s credentials. The Journal did promote their publication as “peer reviewed”, which is a term that they now have decided to drop. The editorial position seems to be that the Journal is not responsible for content. That caveat requires some examination, for it is far different to say that a publication is not responsible for the opinions of the author than it is to say that the publication is not responsible for basic facts. If a publication cannot rely on their authors to be factually correct, do you have a journal of advanced appraisal studies? When the Journal ventures into areas that they can’t fact check, they are asking for the types of problems Alvah Beander has created. The choices are simple. As an option, you can lower the standards of the journal and make it an open forum for ideas that everyone knows may or may not be factually supported. The second option is to restrict your topics to methodology and decorative arts which can with ISA volunteers be fact checked. A third alternative would be to check thoroughly writer credentials and hope for the best. The fourth and final option is simply don’t do what you can’t do well. I hope the Journal opens debate on what the readers want in their journal. Whatever happens, the final product should be advertised for what it is – and that is not going to be peer reviewed any time soon. JB



More information about the Journal can be found at http://www.appraisaljournal.org/

Credentials - What's the Big Deal ?

"A credential is an attestation of qualification, competence, or authority issued to an individual by a third party with a relevant de jure or de facto authority or assumed competence to do so." (http://en.wikipedia.org/wiki/Credential ) I like the succinct quality of this definition of credential. Credentials quite simply are the basis of everything that holds an appraisal organization together as they represent the standards by which we are all judged. Educating the public about our credentials and our standard is the means by which we market our services to prospective clients. Credentials are the single most important tool we own as appraisers.

Having said all that, we had a problem during the recent conference in Charleston when we were introduced to Alvah Beander , an appraiser from Washington DC specializing in African and African American art. In January when I saw the conference promotions and her listing as an African art specialist , I was very curious because no one I ever dealt with had heard of her. I alerted ISA's leadership that something was not completely right. I didn't hear anything back until I saw her lecture listed in the conference schedule as: “Are you Alone? Are you Sitting Down: The Cultural Art of the Gullah People”, Alvah Beander, Certified Member of ASA. Because clearly these credentials were not correct, I was stunned to see them in print.. As late as today, April 10, 2009, ASA has no listing for Ms. Beander as either an accredited or certified member and certainly not as a specialist in African art. As many of you know there is no certified appraiser in ASA - only accredited member (AM) and accredited senior appraiser (ASA).

Ms. Beander's bio on her website lists her credentials as follows:
"Alvah T. Beander is a certified personal property appraiser specializing in African, African American and African Diaspora art. Upon completing the requirements of senior level appraiser in the American Society of Appraisers (ASA) she will become the first African American and women awarded the designation in African art. Alvah was the former owner of two galleries located in Old Town, Alexandria, Va." http://www.maathoth.com/files/QuickSiteImages/Alvah__bio_for_Foundation.doc


At the end of her recent article on appraising African art in the Journal of Advanced Appraisal Studies, Ms. Beander kept most of the same wording but omitted the reference to being certified:
"Alvah T. Beander specializes in African, African American and African Diaspora art. Upon completing the requirements (pending) of senior level appraiser in the American Society of Appraisers (ASA) she will become the first African American and women awarded the designation in African Sculpture. Alvah was the owner of two African art galleries located in Old Town Alexandria, Va." Journal of Advanced Appraisal Studies 2009 p. 325

The Journal of Advanced Appraisal Studies website had Ms. Beander listed as a certified appraiser: however this was modified as noted below.

Pictured here is Foundation Board Member Judith Vance ASA, Accredited Senior Appraiser in Fine Arts (right) with Alvah Beander , member of ASA specializing in African art. MS Beander was a speaker at the ISA Conference held in Charleston in March 2009. She is also a contributor to the Journal of Advanced Appraisal Studies - 2009 with an article “A Guide to Appraising African Art”. (Pasted from <http://www.appraisaljournal.org/).
ASA will not even list candidate members much less their specialties. I believe at this point in her career Ms. Beander is a Candidate Member of ASA. I have never seen this credential in print, so I assume this cannot be used in print as credentials. The only accredited specialist in African art in ASA as of April 10, 2009 is Charles S. Greco, AM from Reston, Virginia, which ironically is in the DC area. In my opinion this misstatement warrants a letter of correction from Ms Beander.

I don't know Alvah Beander and I have never seen any of her appraisals, but I would hope that at some point she would write a letter to ISA seeking a correction and setting the record straight about her credentials. So why should this be important to me and to you? It is important because the credentials that we have all worked for are critical to our credibility as professionally trained appraisers. I certainly can't speak for ISA, ISA's Board of Directors, or the Journal for Advanced Appraisal Studies; however, in my judgment we need to hear from our leaders and we need to have a dialogue on issues of this importance. Our members need to trust the information that is provided. We do not need at this point to indict anyone; however, it would be helpful to know that issues like this are taken seriously and will be handled with greater care in the future. Some of you may be tempted to use this as an opportunity to make this about me. To the contrary this is about us and I certainly would have been very content to stay in the background and let the principles handle it. I have kept silent; however, now it is painfully obvious that nothing will happen. You won't hear any names from me, but the response I got was to suggest that I pursue an ethical complaint with ASA. That is just not good enough. This is really not about Beander, ASA, or African art… it is all about ISA and ensuring that we take care of our own business.

On a related topic, there was much that I disagreed with in Ms. Beander's article in the Journal on appraising African art. That is a completely separate issue for another day. JB