Fine Art/Robert Addison
I was interested in an inquiry about Robert Addison. We own several of Addisons work including a four-series called Chicago , Another Era(serigraphes: valued in 1994 at close to $9000.00) and another serigraph called Eastern Mill(valued at 1350.00 in "94).. Have they lost their value? Thank you
Thank you for your question. When it comes to contemporary limited edition prints such as yours, there are basically two separate values, insurance and secondary market, and numerous factors that can influence either. Even this changes in special circumstances; but overall the first value point is the price set by the artist’s publisher according to the demand on the limited edition. As a print edition sells, the wholesale and retail value set by the publisher increases. For instance, an artist will release a print in a limited number and at a specific “new release” price. Galleries will buy from the edition the number of prints they feel they can sell. If they do not sell the stock they have, they do not reorder. If it is a “hot” release and the edition sells out quickly; the publisher will increase the price accordingly. A gallery may pay $200 for the first print and then order more from the publisher 6 months later at a higher price. It is all about supply and demand. They set the price the galleries pay and what the galleries list the art at retail. Depending on the gallery and their inventory, they may discount the art below the publisher’s retail price list once it has exceeded the new release price.
The other value is the price another collector is willing to pay on the secondary art market. This is usually less than the publisher’s value of an edition. With the advent of the internet, much more secondary art market work is available to collectors and the price may become competitive. There are many fine pieces being sold at highly discounted rates through online galleries, resell art websites and auctions and this trend will ultimately devalue the remaining pieces in an edition. If it is a rare occurrence, there is usually not much damage. However; if a large amount of an artist’s work starts showing up on the secondary market, the price point for that artist's work on the secondary market will drop overall.
I am sorry for the long explanation, but I feel it is necessary for collectors to understand why it is not a good idea to consider art as an investment, (of course there are always exceptions such as Picasso, Warhol, Lichenstein, etc; just to name a few). If you are looking to have your work updated for insurance purposes and not for resell you can get it appraised from an accredited appraiser. You should be able to get an updated value for free from the gallery where you purchased the print, if they are still in business. Any gallery that carries the artists work will have a current retail value price list from the artist’s publisher.
If you are interested in selling your art, the value is going to be whatever someone is willing to pay you, regardless of the price the publisher or artist has set on the piece.
Unfortunately, I cannot tell you if your art has decreased or increased in value.
My personal opinion is that your Robert Addison prints are holding their own in value at this time. The fact that I cannot find comparables of his prints on the secondary market means his work must have enduring aesthetic value. People who own his work still want it as part of their lives and are not willing to let it go. This is very good!
I hope this information has been helpful. As I mentioned earlier, if you wish to have an updated value to submit to your insurance you will need to have a formal written appraisal.