How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Nora Your Own Question

Nora
Nora, Expert in Fine and Decorative Arts: Renaissance through Contemporary
Category: Antiques
Satisfied Customers: 10029
Experience:  Liberal Arts BA College Degree, Post-Graduate Christie's Education in London, 10 Yrs Art World Experience in NYC, President & Founder own Corporation. Member AOA & ISA USPAP Compliant through 2017
71377891
Type Your Antiques Question Here...
Nora is online now
A new question is answered every 9 seconds

What should the price range be Gomez painting of A Bite of

Customer Question

What should the price range be for Mario Gomez painting of A Bite of Hope, 20.5″ x 33.5″ oil on canvas
Submitted: 8 months ago.
Category: Antiques
Expert:  Nora replied 8 months ago.

Hi,

Did you purchase this painting direct from one of his galleries?

~Nora

Customer: replied 8 months ago.
I am considering purchasing directly from a Gallery in San Francisco but have no idea what a reasonable price is and/or whether I should haggle over the price. Do you counter offer or is it more like you either accept the price or not. Thanks Matt
Expert:  Nora replied 8 months ago.

Hi Matt,

Generally a primary gallery - meaning one selling the artist's work straight from the studio will ask the highest price for a painting. You can make an offer, however both the gallery and the artist would be splitting the take (hence assume it is essentially double the price of what the artist would ask, if the artist does not own the gallery and is being represented by a gallery). There is not yet an established auction record or re-sale market on him to gauge what the buying art market would pay. Usually, and almost always, the value of an artwork is not retained after purchase nor automatically increases over time. The art should be purchased for the enjoyment and pleasure of the work and not for investment purposes. As there are no auction records of past sales, the only 'value' is the price placed on it by the gallery, which is perceived value and not absolute value.

Please let me know if I can be of further assistance on this.

~Nora

Customer: replied 8 months ago.
Thanks Nora. So the only way to judge the price is if you think it brings you that much value? Do you know anything about Mario Gomez as an artist? I think it is a lovely painting but not sure on the price of $6,000. Has Mario Gomez sold other paintings that would give an indication of value at auction?
Expert:  Nora replied 8 months ago.

Hi,

Mario Gomez is a contemporary artist being represented by essentially a non-blue chip or mega art fair gallery (meaning not a high end gallery where the artist's sold have a slight potential for becoming investment pieces).

Yes, judging the price in contemporary art is based on if it brings you the value or pleasure and not based on a scale that it will automatically rise in value over time. 9.9 times out of 10, works sold through galleries do not retain their purchase price nor rise in value on the market.

No, there are not any transparent secondary sale records (aka auction records) to indicate or support a $6000 value. The majority of work that sells at a primary gallery of that calibre with a relatively unlisted artist re-sell for around 10% of the original purchase price, if they do re-sell.

~Nora

Expert:  Nora replied 8 months ago.

Hello,

Just checking in to see if you viewed your answer and if you are seeking further assistance?

Please let me know.

Sincerely,

Nora