Let's Talk Art: Ref 2 Investing in Art, Me? 10 May 2020

Date: 1o May 2020  Administrator: Steph Krynauw Ref: 2

"Investing in art, me?" 

The Challenge

I have recently asked a friend of mine to tell whether he reckons that art is a good investment in the current economic climate. I specifically selected him for the following reasons:

• He is a senior citizen who retired from a job in the public services sector a few years ago
• He is conservative and plans money and investments carefully
• He receives a monthly income from his pension investment
• During his career he managed to save and buy a second property to provide extra income
• He is honest, serious and straightforward

This was his response:

You are asking me whether the acquisition of art in this economic time is a good investment or not? Then please note that my response is from the point of view of a layman, I am not an art expert nor a financial consultant.

I will base my reply on a painting I bought for R7000 from Chris Tugwell at his small gallery in Brooklyn Shopping Centre in the year 2000. The size of the painting without the frame is 90 x 60cm.

                           

The ponderings

To compare and discuss the potential investment value of my transaction, I am going to use the USD dollar value as well as the interest rate linked to a normal savings account. However, before I proceed, there are a few points I need to share about my decision to buy the painting:

• I read that art industry experts suggest that people with no specialized knowledge should buy a piece of art because they like it, not because they want to get rich. If the piece of art goes up in value, that should be just an added bonus. It was also mentioned that it does not provide, like other investments, a monthly income (ya well?).

• I was told that art is not easy to re-sell and based on this, as well as the above points, I founded my purchase decision firstly on my requirement to own something nice and secondly on a plan to sell the artwork after my retirement to fund a holiday in America. I am an ardent Western reader and it has always been a dream to travel and to get first-hand experience of the dirt roads, the outback little towns and bullet-ridden bars of the Southwest.

• I therefore decided to carefully select an artist that could deliver something for the eye as well as a good measure of promise on something for the pocket in future.

• Paintings as artform was an attractive investment option because it was something physical and I would be able see what I was buying opposed to shares or other outlays where I would only receive a piece of paper and hoped it would still be there or would be delivering sufficient revenue when I needed it.

• I observe the hazards of the financial markets on a daily basis and, seeing that art has no correlation to the stock market, to me it meant that the value of the painting could increase even if the stock market crashes.

• However, I am a very conservative investor and realised that I also had to invest a good amount of time on research like reading about artists, visiting art galleries and even talking to knowledgeable people. At the end…well about that I will tell you later.

• I then read about painting themes and learned that the following was most popular.

• Traditional landscapes (I was glad this one is first, it’s my personal favourite).

• Modern or semi-abstract landscapes

• Impressionistic landscapes

• Local scenes

• Abstracts

• Figure studies (excluding nudes)

• Seascapes, harbours, and beach scenes

• Wildlife

• I also learned that if one has an investment objective, one should seek out renowned artists and avoid buying small and subtle paintings – this was not good news for my budget….

But let us get down to business

At the time of my transaction in 2000, the US dollar (USD) against the Rand was R 6.72.

This means that:

• Should I have paid in dollar, it would amount to USD 1041.66 at that stage.

• If I bought USD1041 in 2000 and kept it to this day and now, I would, at the current rate of R18.50, have received (if I traded the Dollars back to Rand), an amount of R19 258

• If I had put the money into a savings account and gained an average interest rate of 7% and re-invest the monthly interest into the account, I would have had R28 271

• I have not requested a formal valuation, but if I compare my Chris Tugwell painting with some of his current paintings at the gallery in Brooklyn Shopping Centre, the painting can easily be sold for between R40 000 and R50 000, well - minus the commission….

From the above it is clear that the investment in the painting totally outstripped the other options.
Please note that I haven't added to the painting's ownership costs any other investment cost such as insurance (I did not specify and insure it separately) and storage costs (I kept it on my living room wall for free!).

On the other hand, I also did not take into account the current low buying power of the Rand and that the prices in the gallery was still based on a stronger Rand. Production costs for artists will definitely increase in the near future and selling prices of artwork will also have to be revised accordingly.

The verdict:

The day I saw the painting in the gallery, it caught my attention and "talked" to me. The traditional highveld scene with cattle in the foreground stirred something in me that totally wiped out any common sense. I just about ran out of the gallery to get rid of the feeling and went for a coffee but the image of the painting didn't want to leave me. Within a few minutes I was back at gallery and did not take long in paying for it.

To this day the painting gives me enjoyment that I cannot express in monetary terms.
As a careful investor and a layman in investments and art, I have always been someone who does not take chances, but I can now say that buying a painting by a good artist is an excellent long-term investment – well for me, maybe forever? 

Regards

Freddie.

My own remarks:

• “There are no rules about investment. Sharks can be good. Artist’s dung can be good. Oil canvas can be good.” (Charles Saatchi)

• “Investors have very short memories” (Roman Abramovich)

• “I'd like to live as a poor man with lots of money (Pablo Picasso)

                                    

Regards
Steph

Great New Artist: Ref 1 John Solms

          

  Achiever in Life and Art – Meet John Solms, Business Man,

Springbok Athlete, Pancake King, Brilliant Pottery Artist at 70  

A successful person is one who has ability to reach their goals in life. John’s latest goal?......  

     “A year ago, on my 70th birthday I have decided to start doing pottery”

I once read that to really achieve in life, one has to find your greater purpose, be passionate about your goals, have driving passion, practice, practice, practice, have courage to try, persevere, build resiliency. This is quite a mouthful and obviously the reason why not all of us always fully accomplish all our desired visions and planned goals.

But one successful person that fulfils his dreams on an on going basis is John Solms and I had the most pleasant opportunity to find out more about this man who became a brilliant pottery artist at 70.

Thinking Man

Greek Pot

Veld Water Bottle

Hi John, where did you grow up? 

  I was born at Delareyville, South Africa on 25 July 1948 as one of twins. I attended 8 schools in 8 years - from grade one to standard six (grade 8). I finished school at Petrusburg in the Free State Province and started working at the age of 16. I'm happily married and have three children and  three grandchildren.

Were you always an artist?

No, not at all! I started my career in the Department of Prisons and resigned after 16 years, in charge of training. I then started my own Security Training Company and also lectured at Unisa a  Management Course in Security (unarmed combat and fire-arm training). I was a Security Advisor for the Development Bank of South Africa as well as Security Director for Ithuba Win-and-Spin Game Shows for 7 years.

I have been in Nigeria for two years as Security Director for the National Sports Lottery for their Olympic Athletes. After Nigeria I have done Project Management until I retired at the age of 65.

I am the founder member of “Walk with Jesus Ministry”, a registered NPO. We do outreach initiatives with my motorhome locally, to Namibia and Botswana.

I am involved with disciple making and with female prison outreach and support
every second Sunday at a female prison in Pretoria.

What are other highlights in your life outside art?

As an International Accredited Self-Defence expert, I train people to protect themselves the easy way.

I am a Springbok decathlon athlete, presenting South Africa four times at world games. I also hold the Guinness Book of Records pancake baking record (4 173 with 18 burners, non-stop 12 hours) and I continue doing a variety of exciting things.

Before I became a full-time artist, I furthered my studies in Sport Psychology and I
am a sports coach.

Tree Face 1

Egyptian Woman

Tree Face 2

What is your art training background?

I have no formal art training background. I joined Reinette’s Pottery School after my 70th birthday in July 2018 with the mutual agreement that I will have a free reign to live myself out and get coaching and mentoring when necessary.

I have been creating pottery for almost two years now and joined the Centurion Art Association recently where I learn more about various art techniques.

Was there a seminal, inspiring experience to motivate you to start with pottery?

I never thought of becoming a full-time artist. I was just always admiring other people's work.

I love working with clay, having the feeling that our Creator has put us together and made us unique – that is my starting point.

I always ask my Creator to help me to create something that has not existed before. By doing
everything properly, economically, willingly, safely, first time correct…it must be a success.

What is the best thing in being an artist?

The best thing about being an artist is that I can get busy with a piece of clay and create something uniquewhich is an expression of myself.

I am in another world when I am doing my art.

Sometimes I spend two to three hours a day on art, sometimes eight… 15 hours. When I am focused, I get absorbed and time flies by.
Sometimes I enjoy music while I am engaged with my art.

What I find most satisfying about being an artist is the knowing that after I've created something - to know that nobody else has done this before, I've created, or designed it, I've coloured it, and I did not copy it!

Were you ever discouraged? If so, how did it affect your creativity?

I don't get discouraged when something doesn't work the way I wanted it to be. I take it as a learning experience. Sometimes the outcome is astonishing and far better than expected!

Greek Fruit Bowl

              

Veld Water Kettle 2

Veld Tea and Coffee Pot

What inspires you to create?

What inspires and challenges me is to create what I imagine is possible… to create things and to put it on paper or mould and carve it out of clay.

I am inspired by all aspects of life. Anything that grabs my attention at a given point in time becomes an inspiring idea, which then becomes a vision or vivid picture in my mind.

Do you strive to be unique in your creative endeavours?

I won the title as “Most Creative Adult” in December 2019 with Earth Woman amongst 68 other entries.

I believe that one must stop trying to blend in when one is created to stand out. It gives me pleasure when people say and ask: “I have never seen something like this before, where and for how long have you studied to be able to do this?” For example when people admire my twin-teapot with two lids and two touts to pour normal tea and rooibos tea as well as my ‘veld-items’ and vases.
Over time I visited 27 countries for sport, training, studies and work. During leisure times we visited museums and art galleries, therefore I truly am influenced by and admire a variety of artists and their work, but I strive to be authentic in what I do.

I do not believe in ‘copy-paste’.
I have also done some custom artworks/commissions and will continue doing that.

Fran and Manos

Earth Woman

Whale Hunter

Which mediums gives you the most joy and what else are you planning?

At this point in time I mostly work with different colours earthenware and stoneware.

Going forward I plan to work in porcelain as well. I enjoy doing raku.

I am busy experimenting with different oxides, glazes and firing techniques.

How important are titles to your artworks?

I enjoy naming my art work using descriptive titles as it gives an indication of my creative thoughts and outcome.

Some examples are Earth Woman, Greek Art, Veld Kettle and Whale Hunter.

What is the hardest part of creating a work of art?

I think it will be hard to practice art if one tries to copy other people’s work, because then one compares his work with an established artist.

But otherwise, there's nothing hard to it.

What’s the favourite part of your art?

My favourite part of the pottery process is when opening the kiln after the final firing, to see that everything is perfect and sometimes beyond my wildest expectation – to such an extent that I sometimes wonder if it was really me creating it.

In your personal view, what role does the artist have in society?

The artist plays an important role in society, because societal needs and lessons learned can be expressed through art.

It is a powerful medium to express both the beauty as well as harsh messages. Art can also be
used to decorate their surround.

How do you market your art?

I'm not marketing my products at the moment and that's something I need to attend to.

So far people see my work, they like it and they buy it.

It will be an advantage to display my art items in a good gallery, and I will also love to get someone to market my products. 

Currently, after completion of my work I normally send photo’s (not references per se) to my friends via WhatsApp.

I realise that I need to use other social media platforms going forward.

I will have to consult someone to assist me with that and I will make use of Adriaan Lotter’s offer to use his site.

People are also welcome to visit my home studio after the lock-down period.

Where can prospective buyers currently see your work?

At the moment my work is displayed at Mall@Reds Art Gallery or when there is an exhibition at Centurion Art Gallery (Lyttleton Art Gallery).

Do you do any research on art?

I enjoy doing research. I make use of internet articles and have a collection of books that I study. I also visit galleries and museums.

What advice would you give to your younger self?

Advice to my younger self would be to just go with the flow and to learn from own and others’ experiences.
Be open to learning, researching and experimenting. Create your own unique technique and build your brand accordingly!

Inka Pot