HELP WITH APPRAISAL!!! CONTEMPORARY ART & THE OLYMPICS

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My parents bought a collection of art [a portfolio] called "Contempory Art & The Olympics," which is a collection of 25 Limited Edition prints commemorating the 1988 Seoul Olympics. I have done some research online to find the value of these prints, but I've come up with nothing concrete. If someone could help me in any way possible! I need to know the fair market value of each print, and where/who would purchase them! Here's what I do know about the prints:

Artist: Agam Yaacov
Title: Message of Peace - Seoul Olympic Games
Size: 31 x 40 in
* Silk screen

Artist: Pierre Alechinsky
Title: Seoul
Size: 22 x 29 7/8 in
* Lithograph

Artist: Mihail Chemiakin
Title: Runner

Artist: Sandro Chia
Title: Athletes
Size: 26 x 34 in
* Lithograph

Artist: Eduardo Chillida
Title: Competition & Harmony
Size: 27 x 35
* Silkscreen

Artist: Christo
Title: Wrapped Statues
Size: 27 x 35 in
* Collage w/silkscreen

Artist: Jose Luis Cuevas
Title: Coloso
Size: 27 x 35 in
* Lithograph

Artist: Jim Dine
Title: Olympic Robe
Size: 27 x 35 in
* Lithograph

Artist: Kim, Ki-Chang
Title: Mystic Star of the Orient
Size: 26 x 35 in
* Lithograph

Artist: Kim, Tschang-Yeul
Title: Water Drops
Size: 29 x 43 3/8 in
* Silkscreen

Artist: Lee, Bann
Title: Let's Make the Whole Demilitarized Zone Into A Grand Park for all Korean People and an Olympeace Park an DMZ
Size: 27 c 35 in
* Lithograph

Artist: Roy Lichtenstein
Title: Olympic Competition
Size: 40 1/2 x 49 1/2 in
* Lithograph

Artist: Nam, Kwan
Title: Illusion of Human Mask
Size: 27 x 35 in
*Lithograph

Artist: Mimmo Paladino
Title: Untiltled
Size: 27 x 35 in
* Woodblock

Artist: Park, Seo-Bo
Title: Ecriture
Size: 27 x 35 in
* Lithograph

Artist: A.R. Penck
Title: Mul-Bul-Dang & Sentimentality
Size: 27 1/4 x 34 7/8
* Woodblock

Artist: Robert Rauschenberg
Title: Olympic Spring
Size: 27 x 35 in
* Lithograph

Artist: Jean-Paul Riopelle
Title: Dove
Size: 23 1/2 x 35 1/8 in
* Lithograph

Artist: James Rosenquist
Title: The Color of Muscle
Size: 35 x 42 1/2
* Silkscreen

Artist: Kazuo Shiraga
Title: Passionate Winner
Size: 27 x 35 in
* Silkscreen

Artist: Pierre Soulages
Title: Composition
Size: 27 x 35 in
* Lithograph

Artist: Rufino Tamayo
Title: Iron Cross
Size: 27 x 35
* Lithograph

Artist: Antoni Tapies
Title: Arrow

Artist: Victor Vasarely
Title: Hexa 5
Size: 29 1/2 x 39 3/8 in
* Silk Screen

Artist: Zao, Wou-Ki
Title: Tree of Life

As you can see, there are so many! Crying or Very sad

I am going nuts trying to find all this info. on so many prints. I also wanted to know if it was more profitable to sell each painting alone or as a set. These are a set out of 300. Thanks. Smile

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Your best bet would be to check with a well-known auction house (like Southerby's, etc.) Or find an appraiser.

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Well, I'm not expert, but it is important in gauging the value of prints to know if they are true lithographs and not just prints of lithographs. If they are true lithographs, they'll likely have a split number like 41/50 handwritten (often in pencil) on the piece, which means the 41st pull from a limited edition of 50. Usually, fine lithographs are numbered, signed and dated.

If your parents' pieces appear to be like that, you definitely should find an appraiser, possibly in a house or gallery that is willing to sell them for you. Here's one that I quickly found (don't know if it is the best) which specializes in (among many other artists) Lichtensteins...

http://www.djtfineart.com/Fine_Art_Lithographs_Prints.html

Here's a little bit of information about documenting lithographs from the Creighton-Davis Gallery of Washington, D.C. which specializes in authentication.

http://www.rareart.com/auth.html

And this is an example of their documentation work:

Quote:

Example 1: Item 012 on XXXX site, described as by Joan Miro, titled "XXXX" is a known original lithograph documented and illustrated in Cramer's text on the illustrated books of Miro, No. X and the Mourlot catalog of the original lithographs of Miro, No. X. It was issued in an edition of 100 signed and numbered and a larger edition with the addition of a printed (plate) signature. This sheet measures 11(h) by 22(w) inches and was issued with a center vertical fold in the unsigned version as it was inserted in an issue of Derriere le Miroir.

The recorded measurements of the original work varies substantially from the size reported for the work that you are thinking of bidding on. It is unlikely that two sets of plates (one for each color), to produce two identical prints, in two different sizes were created by the artist. There are no documented overruns or unfolded proofs. It is possible that the work offered is a reproduction of the original lithograph and not the original lithograph itself.

Good luck.

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Portal Star, Piffka... Thanks for the info! Smile

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You are welcome! I hope that each of those is worth thousands and thousand of dollars.

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Piffka.. Lol Thanks..

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There's seldom a an offset lithograph from an original plate hand-pulled lithograph but it's possible. Limited edition means very little unless they are signed and numbered by the artist which, in this case, is unlikely. If there is documentation that came with the prints stating just how they were done, if the plates are destroyed, what studio printed them, etc. Real hand-pulled lithographs are not that prevalant right now in the art business. Serigraphs and giclees (a computer spray process) are the two dominant commercila mediums. If these are not signed and numbered they aren't worth much, likely not more that one paid for them. An accredited appraiser will cost you upwards of $300.00 and is really only good of insurance or the IRS if you are donating the work (for the write off). The market value is something else again. If they are signed and numbered in an edition of 300 and you have a matching numbered set, it is better to sell them to a collector of Olympic commeratives. E Bay would be a good place and if you haven't checked there to see if some similar editions (if the one in question isn't listed), that will give you an idea of the true market value. Appraisers can be wildly high or low from the actual remarket price.

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I notice there other mediums involved like screen prints, woodblocks and collages which leads me to believe these are original prints and not commercial prints taken from another medium. It would help if I knew the approximate original purchase price to give any good advice. If you're reticent to post it here, you can PM me. The secondary art market isn't all that good still -- a good example why we are in a true recession. Expendable income goods like fine art always take a beating when the economy is not good. Realisticlaly, it's better to hang onto an edition like I surmise this one is until the market improves.

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Lightwizard wrote:

I notice there other mediums involved like screen prints, woodblocks and collages which leads me to believe these are original prints and not commercial prints taken from another medium. It would help if I knew the approximate original purchase price to give any good advice. If you're reticent to post it here, you can PM me. The secondary art market isn't all that good still -- a good example why we are in a true recession. Expendable income goods like fine art always take a beating when the economy is not good. Realisticlaly, it's better to hang onto an edition like I surmise this one is until the market improves.

Yes, Lightwizard. And several art galleries around where I work just went out of business. Eek.

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Many brick-and-mortar galleries supplement their sales on off-the-wall inventory by searching for and selling from publishers outside their own program and making less profit. They will also search for secondary market print art to satisfy their clientele. When they really don't know how to run a profitable gallery and the outside inventory market starts to dry up they're in trouble. Besides, the customer can go online and find the same thing although the dealer may get a better price to compete. However, this might make the profit margin as low as 10%. Can't stay in business with a brick-and-mortar operation on that kind of profit. It's also the fact that many who own these commercial art prints find out sadly that the salesperson used the clever investment language to sell them the art and stay within the law. Many people realize this art simply does not appreciate, at least not in their lifetime and it's not offered for sale making the availability a problem.

Art tied in with an event like the Olympics has the potential of a collectable but it's the variety of the artists that's a problem. Serious collectors don't really buy prints unless they are fine art originals when the plates are created by the artist and he pulls the print even if using assistants as that's kosher. I imagine that mchol might have the best luck seperating the prints for sell to collectors of that specific artist. Buying art for investment is a tricky business and if one has virtually little knowledge of art and the market they might as well play golf with a pool cue.

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To begin an informal appraisal I need to know the answers to these three questions:

1. Are the prints signed and numbered?

2. Did a Certificate of Authenticity accompany the prints and does it state that this is the only way the edition was offered?

3. What was the original price of the portfolio and did it give prices for each work?

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Thank you Lightwizard I will check the prints in a few days as they are in storage. Smile

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I would hope they sold the edition of prints in an acid free profolio or box. There should be documentation that will tell you all you need to know. Without that documentation, it's difficult to sell anything.

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Lightwizard wrote:

To begin an informal appraisal I need to know the answers to these three questions:

1. Are the prints signed and numbered?

2. Did a Certificate of Authenticity accompany the prints and does it state that this is the only way the edition was offered?

3. What was the original price of the portfolio and did it give prices for each work?

1a.) Yes, they are all signed and numbered in pencil on the front of each print. (XXIV/CCC)

2a.) No certificate of authenticity that I know of. But it did come with a book that gives some explaination of the prints and the artists.

3a.) I do not know that answer to this question.

I just realized that I don't have all the prints. I have 20/25.

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The lack of any documentation is troublesome but the signatures can be verified by the buyer. I think I would market it as a portfolio along with the book 'cause you can't sell the book more than once obviously. You might search through the folder or box the prints were packaged in as that would be the place a C of A would likely be placed. They might even be tacked on the back of the prints with museum mount tape. Signed and numbered is extremely important and you do have a valuable collection of original prints. It could be worth getting an appraisal from an accredited appraiser and it will cost a few hundred dollars. This would be more for insurance or donating the prints for a tax write-off than remarketing. Search the Internet through Google for individual prints by each of these artists. This might give you an idea. An auction house may be your best bet. Type into Google search

fine art print auction house

and see what this brings up.

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They ARE signed and numbered? Cool! I'm still interested in how this plays out.

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Bonham and Butterfields in San Francisco and L.A. may be a good marketing move.

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Hmmm, I wonder, Mchol, have you searched the various book websites? Abebooks would be a good place to start, but there are some specialized sites. If it were mine, I'd check the publisher as well as the title page information, each of the artists and the names of the pieces. So very interesting... was it published in the USA?

Lightwizard, I would think this should have cost a lot of money, to start, if it were going to be particularly valuable today. If there were twenty-five items, I'd think... hmmm, $2500 minimum? The works were likely donated by the artists.

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Piffka wrote:

Hmmm, I wonder, Mchol, have you searched the various book websites? Abebooks would be a good place to start, but there are some specialized sites. If it were mine, I'd check the publisher as well as the title page information, each of the artists and the names of the pieces. So very interesting... was it published in the USA?

Lightwizard, I would think this should have cost a lot of money, to start, if it were going to be particularly valuable today. If there were twenty-five items, I'd think... hmmm, $2500 minimum? The works were likely donated by the artists.

The book was printed and bound in Seoul, Korea. Piffka, are you saying that the whole set is worth $2500, or individually? I'm thinking it should be around 1,000 - 6,000 each as I found some of the same prints online selling for around that much. Here are a few examples:

http://www.picassomio.com/art/9933/en/Artist:
Agam Yaacov
Title: Message of Peace - Seoul Olympic Games
US$2900

http://www.picassomio.com/art/6165/en/
Artist: Sandro Chia
Title: Athletes
US$1600

http://www.picassomio.com/art/6171/en/
Artist: Christo
Title: Wrapped Statues
US$3100

http://www.picassomio.com/art/6193/en/
Artist: Jose Luis Cuevas
Title: Coloso
US$1300

http://www.picassomio.com/art/6241/en/
Artist: Jim Dine
Title: Olympic Robe
US$6000

So now that I am getting the idea of how much these are worth, now I need to know what is the best way to sell these works. Sell? Auction? Consign? And who would purchase?

Lightwizard - The prints did come in a box with which looks like the official stuff on the cover. If they are acid free I can't tell you, but each print is layered with tissue-like paper and they are all in excellent condition as they've stayed in that box for YEARS and looked at maybe 2-3 times within the past 3 years. I've been doing a lot of online research so I'm getting there. Thanks for all your help!!!!

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Those are realistic retail prices for the calibre of the work. Whether it was a wise move to buy them for investment is another story. In order to sell them on say, on EBay, you'd have to undercut the competition by at least 20%. Selling through a dealer and you will likely get no more than 50% to 60% of their retail value. That's why it would help to know how much the entire portfolio of prints was sold for. I'd only sell them if you believe you have a better place to use the money as they are amongst some of the few graphics that could have significant future increase in value.
Original paintings and drawings, of course, have the most potential as the top collectors generally don't look for limited edition prints. Keep researching through the Internet and I'm sure you'll come up with more supporting info.

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HELP WITH APPRAISAL!!! CONTEMPORARY ART & THE OLYMPICS

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HELP WITH APPRAISAL!!! CONTEMPORARY ART & THE OLYMPICS