The Art of the Deal — Fine Art Paintings Located by 31 Club Member and Purchased Using our Associates Program.
31 Club Member, William, struck again. Yesterday, he called asking about several paintings he was going to see at a local house sale in the Houston area. The first one was a Texas Porfirio Salinas painting, an artist I am very familiar with. It was one of his bluebonnet paintings; a very small one. Since the painting was in Texas, and that’s where Salinas is most popular, I was fairly certain the price would be out of our range. This proved true when we discovered the asking price was $15,000. There was no need to even try to bargain on this painting, so we moved on to the next offerings, and the interesting part of the story was yet to come.
William Fisher was the next artist on our list, an artist from New York. Out of place for Houston, right? After doing research, I suggested offering $200 apiece for three of Fisher’s paintings. We negotiated over the course of the afternoon, but we were unable to come to an agreement on the price, so we passed on these, even though there might have been a little profit there. Remember, we aren’t looking for a little profit.
The last painting was a very modern painting offered for $800. While the artist is listed, there have been only a few of his paintings sold at auction, but I saw that they were all sold for higher than the high estimate. That was about the best news we could have hoped for, and perhaps we could be on to something here. We discovered that there was no other interest in the painting, and after several calls back and forth, we finally settled on a price that satisfied us all — $600. My educated guess is that at a Modern Design Auction or Sale, this painting has the potential to bring in $5,000 or more. Bingo. We made a hit. The painting was purchased through the Associates Program.
Let’s review the behind the scenes steps that brought us to the point that we bought this painting. First, while researching auction prices for this artist, I saw that his prices had climbed recently. Second, when they did sell, they brought more that the high estimated price. Third, the painting was in an area where this type of work was not especially appreciated, generally. This created an almost perfect game plan for us. It took patience to secure this purchase at the price we wanted, and I’m certain it will pay off.
I’d like to tell you who the artist is, but that will come after it’s sold, and I’ve selected two places that we could best sell this piece. Some of you might be industrious enough to figure it out, but, I promise I’ll tell the rest of you later. Depending upon which company we decide to sell it through, the sale will be either in September or November.
The Associates Program through the 31 Club is making it possible for anyone who makes a good find to prosper buying and selling fine art paintings, antiques and collectibles. Come Ride Shotgun With Us.
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