It constantly amazes me that high net worth individuals will pick over contracts with a fine tooth comb when it comes to buying a house, car or anything else the general public has an awareness of. Yet when it comes to investing in the art market, particularly the ancient art market, known to be plagued with forgeries and low grade tat, they trust their 'instincts'.
You want proof - I recently met an American collector and casually asked him who he took advice from when buying antiquities. His answer - "I've been collecting for thirty years - I don't need advice from anybody"!
Now, you have to be supicious of anyone who doesn't take advice right! Bearing in mind that Bolton City Council and the Art Fund funded the purchase of the Greenhalgh 'Nefertiti' (a poor copy of the Louvre sandstone Nefertiti with way too big hips, even for the Amarna period) and the British Museum were prepared to take on face value that the same family, living on a council estate in the north of England had also 'inherited' Assyrian reliefs from the palaces of Nineveh, we all need to consult other authorities occasionally.
An honest appraisal of the pitfalls of the antiquities market is provided by Helios Gallery, a respectabl member of the Antiquities Dealers Association (ADA) in their e-Bay guide to collecting antiquities. "We all get caught out sometimes" - its the nature of the beast.
If you are new to the market in antiquities, I will be happy to share what I know about UK and international laws and the ethics of collecting Cultural Goods. I will happily point out the controversial nature of the trade and not hide the vocal opposition amongst the academic archaeological community. Collectors and investors should, after all be fully aware of the issues surrounding the market before getting involved.
To conclude - The place to start in order to get an overview of the current market is Minerva Magazine: The International Review of Ancient Art and Archaeology http://www.minervamagazine.com/, but be aware it is owned and run by the owner's of Royal Athena Galleries/Seaby, major players in the ancient art trade. This is no bad thing, but you should be aware of this interest. The standard book on the subject is Collecting Antiquities: "An Introductory Guide" by Charles Ede, one of the leading London dealers. Now rather outdated it is still a good all round introduction and there has been nothing to replace it yet.
Also, and this may not be immediately obvious, but visit as many museums and exhibitions and read as widely as possible in order to familairise yourself not just with the market, but with antiquity in general. Unlike our American cousin, the more you know, the better you will be able to evaluate the potential of an antiquity for purchase/investment.
There are a lot of fakes out there and we will conclude by suggesting you stay well clear of e-Bay until you know your market, although it is a useful resource for cheap reference books to help you develop your knowledge. A trade secret - Invaluable is just what it says. Current and archived auction lots are available for research at http://www.invaluable.com/ but you must be serious enough to subscribe to make full use of this invaluable research tool no matter what your area of interest.
If you must venture into e-Bay territory, the only advice I can give at this stage is initially look to dealers who are independently established and recognised by the trade through membership of a regulatory body. I do not wan't to give the impression I am somehow promoting one dealer, but Helios Gallery comes to mind as they have been around a fair while, provide antiquities of interest to the lower end of the market and first time collectors, are members of the ADA and sell on e-Bay. http://www.heliosgallery.com/.
I will begin to reccomend other markets and galleries in my next blog.
Canopus
You want proof - I recently met an American collector and casually asked him who he took advice from when buying antiquities. His answer - "I've been collecting for thirty years - I don't need advice from anybody"!
Now, you have to be supicious of anyone who doesn't take advice right! Bearing in mind that Bolton City Council and the Art Fund funded the purchase of the Greenhalgh 'Nefertiti' (a poor copy of the Louvre sandstone Nefertiti with way too big hips, even for the Amarna period) and the British Museum were prepared to take on face value that the same family, living on a council estate in the north of England had also 'inherited' Assyrian reliefs from the palaces of Nineveh, we all need to consult other authorities occasionally.
An honest appraisal of the pitfalls of the antiquities market is provided by Helios Gallery, a respectabl member of the Antiquities Dealers Association (ADA) in their e-Bay guide to collecting antiquities. "We all get caught out sometimes" - its the nature of the beast.
If you are new to the market in antiquities, I will be happy to share what I know about UK and international laws and the ethics of collecting Cultural Goods. I will happily point out the controversial nature of the trade and not hide the vocal opposition amongst the academic archaeological community. Collectors and investors should, after all be fully aware of the issues surrounding the market before getting involved.
To conclude - The place to start in order to get an overview of the current market is Minerva Magazine: The International Review of Ancient Art and Archaeology http://www.minervamagazine.com/, but be aware it is owned and run by the owner's of Royal Athena Galleries/Seaby, major players in the ancient art trade. This is no bad thing, but you should be aware of this interest. The standard book on the subject is Collecting Antiquities: "An Introductory Guide" by Charles Ede, one of the leading London dealers. Now rather outdated it is still a good all round introduction and there has been nothing to replace it yet.
Also, and this may not be immediately obvious, but visit as many museums and exhibitions and read as widely as possible in order to familairise yourself not just with the market, but with antiquity in general. Unlike our American cousin, the more you know, the better you will be able to evaluate the potential of an antiquity for purchase/investment.
There are a lot of fakes out there and we will conclude by suggesting you stay well clear of e-Bay until you know your market, although it is a useful resource for cheap reference books to help you develop your knowledge. A trade secret - Invaluable is just what it says. Current and archived auction lots are available for research at http://www.invaluable.com/ but you must be serious enough to subscribe to make full use of this invaluable research tool no matter what your area of interest.
If you must venture into e-Bay territory, the only advice I can give at this stage is initially look to dealers who are independently established and recognised by the trade through membership of a regulatory body. I do not wan't to give the impression I am somehow promoting one dealer, but Helios Gallery comes to mind as they have been around a fair while, provide antiquities of interest to the lower end of the market and first time collectors, are members of the ADA and sell on e-Bay. http://www.heliosgallery.com/.
I will begin to reccomend other markets and galleries in my next blog.
Canopus
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