ARE YOU AN ART-TARGET?
The staff spots you the moment you step through the gallery door. They
can tell by the way you dress and how you act whether or not you're an
"art-target," and how likely they are to sell you a piece of overpriced art.
As strange as this scenario sounds, it happens all the time. Seemingly
fashionable art galleries train and employ sales associates to lie in wait,
approach, and then sell highly overpriced art to unsuspecting victims
who fit particular art-buying profiles.
How overpriced is the art at these galleries? Ask Charles Sherman of
www.california-pawnshop.com. He spent years working at one such
gallery on Rodeo Drive in Beverly Hills, CA. "Signed and numbered,
mechanically reproduced posters can be marked up 100 times or more,"
says Sherman. "A poster costing only $10 to produce, is sometimes sold
to the public for over $1000.
"Unsigned, unnumbered, limited edition etchings or lithographs by major
twentieth-century artists can be marked up as many as forty times,"
continues Sherman. "For example, a Chagall lithograph that costs a
gallery $100 might sell for $4000 including the frame. Art by artists like
Peter Max, Erte, or Alexandra Nechita, can be marked up four times or
more. This means that a painting consigned to a gallery for $10,000 might
sell for over $40,000.
"To be fair," Sherman adds, "high profile galleries have tremendous
overheads. Some pay $60,000 or more per month in rent alone." The
bottom line, however, is that in the overwhelming majority of cases, 70 to
well over 90 percent of what you pay for art at art-target galleries does
not go to the art or to the artists, but rather to rent, utilities, furnishings,
framing, staff salaries, champagne and brie for art openings, and other
gallery expenses. For example, if you pay $4000 for an unsigned
unnumbered Chagall lithograph that the gallery bought for $100, it's only
worth $100 the moment it leaves the gallery, and you've just wasted
$3900.
Sherman knows exactly who buys this overpriced art. When he worked
at the Rodeo Drive gallery, he watched for people sporting Rolex
watches, alligator shoes, designer handbags, and other overt displays of
wealth. "Well-dressed married couples in their forties and fifties are also
likely buyers," Sherman adds. "But not newlyweds, and you never talk to
people with back packs or rubber shoes, or to artists. They're all wastes
of time."
Sherman would typically strike up conversations with likely art-targets
and start by "qualifying" them, in other words, find out whether they
could afford the art they were looking at. Below are typical questions that
art-target gallery sales associates use to "qualify" buyers.
"So, are you in town for the medical convention?" (A medical convention
may or may not be taking place, but this is a great lead-in to finding out
what someone does for a living and getting an idea of how much money
they make.)
"Have you ever bought art before?" (A "yes" answer is better than a "no,"
but a "no" still allows the sales associate to continue the conversation by
asking what artists they like the most, whether they're familiar with any
of the art they're looking at, and so on.)
A "yes" answer to the above question leads to the next question which
goes something like "Where do you buy your art?" (Knowing where a
person buys art is crucial to making a sale. According to Sherman, people
who buy directly from artists are unlikely to buy at galleries. If, however,
they buy at galleries similar to the one where Sherman once worked, the
chances of selling them art become much greater.)
Assuming the art-target buys at higher profile galleries or has at least
thought about it, the next question goes something like "Who are your
favorite artists?" (If the person mentions names of artists or types of art
that the gallery sells, this is good.)
Additional ways of qualifying art-targets are beyond the scope of this
article, but anyone who qualifies and shows interest in the gallery's art is
given immediate attention. A sales associate shadows the art-target and
either continues the conversation or remains in the art-target's vicinity
making occasional remarks about whatever art is being looked at. The
associate is trained to make the art-target feel important, and when
combined with the intoxicating effects of the gallery's lavish interior, the
art-target becomes seduced, tenderized, and readied for being sold to.
The associate pays close attention to the way the art-target looks at the
art, prepared to spring into action at any moment, and move in for the
kill the instant more than a casual amount interest is expressed in a
particular piece of art. The associate's goal is to remove that piece of art
from the main gallery and suggest that the art-target study it close-up in
a place called the "viewing room."
The viewing room is usually a smaller room off of the main gallery floor
with a door that can be closed for privacy. It's specially designed for
isolating art-targets alone with their sales associates, and for showing art
so that it looks its absolute finest. At one end of the room is a display
area with sophisticated lighting where the art is positioned for viewing.
The art-target is seated across from and facing the art, usually on a
comfortable couch, while the associate adjusts the lighting to perfection,
all the while talking about how great the artist is and how fantastic the art
looks. Under these circumstances, the art-target is most vulnerable and
the associate eventually pops the question "Would you rather pay for
that with a VISA, MasterCard, or American Express?"
Viewing rooms are not good places for art-targets to find themselves in
unless they already know the value and significance of the works of art
that they're thinking about buying, or they know and trust the gallery
that's selling the art and have done business with them before. Below are
additional tips, not only for avoiding viewing rooms, but also for
avoiding becoming an art-target in any way, shape or form.
** Art-target galleries like the one where Sherman worked are usually
found in high traffic, high profile, commercial areas that attract wealthy
people. Rodeo Drive in Beverly Hills, the Soho district of New York City,
Fisherman's Wharf and Union Square in San Francisco, and high-end
tourist destinations like Carmel, CA and Maui, HI all have these types of
galleries.
** The substantial majority of art-target galleries are located at street
level. Their opulent interiors are clearly visible through large picture
windows and through glass doors that are often open to the street.
** Art-target galleries typically show art by artists with high name
recognition like Leroy Neiman, Erte, Peter Max, Dali, and Alexandra
Nechita. They also show prints by Modern Masters such as Picasso, Chagall,
Matisse, and Miro; and, occasionally, prints by Impressionists
like Degas, Monet, and Pissaro; or etchings by Old Masters like
Rembrandt. Many of these prints are mass edition lithographs removed
from books or portfolios, posthumous printings (printings done after the
artists are dead); some are even copies of works by famous artists done
by other artists. All have very little street value. Inexperienced collectors
who buy limited edition prints at art-target galleries often have little or
no idea of what they're really getting.
** Art-target sales associates use pressure tactics to sell art. Anytime you
feel any pressure from an associate, no matter how subtle, to carry on a
conversation, talk about yourself, and, especially, to buy art, turn around
and walk out. Depending on the sex of the associate and the target, this
pressure can even include flirting. By way of contrast, in the non-target
art world, gallery personnel normally leave you alone when you look like
you don't want to be approached.
** Art-target galleries often have high profile art openings with security
guards, spot lights, champagne, hors d'oeuvres, cameras flashing, and
people at desks in the fronts of the galleries signing you in. Sales
associates run around with clipboards, ready to sell. Likely art-targets are
waited on hand-and-foot, the entire event being designed to make them
feel very, very important and buy art.
** Art-target galleries typically stay open late at night when giddy
revelers, out on the town and with money to spend, are likely to wander
in after enjoying good food and fine wines at expensive restaurants. Two
cardinal rules of intelligent art collecting, by the way, are never to buy art
at night and never to buy it under the influence of drugs or alcohol.
Being an art-target can be loads of fun at the moment you're buying art,
but finding out what that art is worth months or years down the road
when you decide you want to sell it or have it appraised is anything but
fun. Of course, you're entitled to buy whatever art you like, wherever
you see it for sale, and pay whatever you want to pay for it. But if you
care about the value of what you're buying and how you spend your
money, resist any pressure to buy, take your time, do a little price
research in advance, or ask an outside appraiser to do it for you before
you become an art-target.