Peter Lik

Started 3 months ago | Discussions thread
lilBuddha Veteran Member • Posts: 4,376
Re: Peter Lik

Bill Ferris wrote:

lilBuddha wrote:

Bill Ferris wrote:

lilBuddha wrote:

Bill Ferris wrote:

Whatever one may think of his photography, style or use of compositing, Peter Lik has worked hard for his success. It's not the product of luck. Success wasn't handed to him on a silver platter. He worked his keister off, built a brand around his name and is reaping the rewards of his labor.

He has worked hard for his success, kudos for that. Not so much for misrepresentation of value by his galleries.

Hey, if customers are willing to pay $35,000 for a "Second Level Premium Peter Lik," that's the value. If they buy the print as an investment with the assumption it will increase in value over time, that's a risk they're responsible for taking. Very few art works actually increase in value. Their greatest value is typically realised the day they first sell.

Well, no.

Actually, yes. In the vast majority of purchases of works of art, the greatest value for that piece is on the day it is first purchased.

The majority of art sold isn't what we are talking about. The majority of artists are not known.

Typically, those artists whose work is "in" will keep their value, and maybe rise, until they are "out" of favour.

You're talking about a very small percentage of artists and, still, there is no guarantee the value of even a popular artist's work will increase over time.

When talking about value, the conversation is about a small minority of artists and the rest do not count. Lik is inside that small minority of artists, so that is where the conversation sits.

The difference between Lik and any other moderately popular artist is that his work drops significantly the second one walks out the door of his gallery. With other popular artists, one loses gallery fees, but little else at that moment. In time, the value might not hold, but with Lik, it is virtually guaranteed it won't.

But they do not drop in price the minute one walks out of the gallery door, as is the case with Peter Lik's images. Even he likens buying his images to buying a new car which, again, is not how the art world in general works.

The lesson: buy a work of art because you enjoy the piece and because having it on display in your home or business gives you pleasure. Investing in art is not a sound retirement plan.

Most art depreciates when it is not the flavour of the moment and all art drops when the economy is not favourable. So, yes, buy what you like with money you can afford to lose.

Yes, buy it 'cause you love it and don't expect it to increase in value. That's the best way to avoid disappointment when purchasing art.

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