“Keep Your Wallet in Your Pants”
ArtInfo.com has this short interview with Colorado contemporary art collectors Kent and Vicki Logan, known particularly for their large holdings of international contemporary art:
My Collection: Vicki and Kent Logan.
I love the quote at the bottom, under Advice for Beginning Collectors. Logan says: “Today, I would say, ‘See as much as you can, but keep your wallet in your pants.’ I think this art market is overextended. Everything goes in cycles and there will be another cycle soon. Anything you like today will be cheaper in five years.”
Take heed, newbies. Dude’s got a point.
Above: Gottfried Helnwein’s compellingly creepy American Prayer, from the Logan collection. Note the boy’s marionette wrists….
May 22nd, 2007 22:42
I am not sure i agree that everything will be cheaper in five years although some artworks certainly will be. I think that the artmarket as a whole has a lot more oomph left in it and will be sustainable for more than 5 years thanks to globalisation and a focus on the contemporary
http://www.artmarketblog.com