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| Robert Irwin "Boats" c. 1950 Oil/board |
A
reader discovered this painting of boats at a Santa Barbara garage
sale two years back. After leaving the garage sale, she could not
stop thinking about it – and returned to buy it for $150.
Upon
seeing that the painting was signed ‘Irwin,’ I was eager
to discover its worth. A very famous minimalist California artist is
named Robert Irwin (1928-). Although the style is nothing like the
works for which Irwin is known, the
style and signature is almost identical to his early1950s work.
Robert
Irwin is best known
for his abstract canvases often depicting lines and dots. He
experiments with visual perceptions of color and light. He is
primarily a painter but also a sculptor using fluorescent
installations.
The
question is: does this painting have any value? I always tell my
appraisal clients to remember that value is based on many factors. An
official appraisal is based on market comparables and takes into
account the artist, as well as condition, size, authenticity,
provenance, and the current economy. An appraiser also has to
consider the style for which an artist is best-known and collected
In
consulting auction records, Irwin’s
work has sold for as much as a million dollars with most works
selling in the $50,000-$100-000 range. Strangely, after discussing
the painting with multiple auction houses, they were hesitant to
place a high estimate on the painting.
One auction expert said, “This
imagery is not typical of his work. For this reason, I would
worry that the market place might not respond well to this image.
As such, I would estimate this more as novelty painting
at $3,000-$5,000.
The
lack of a strong market value is based on the fact that no direct
comparables exist. Therefore, auction experts speculate that an
atypical work would not be desireable to collectors of Irwin’s
typically minimalist work. There are two abstract 1950s works
currently going to auction that are estimated to sell between
$30,000-$40,000.
While “Boats” would sell for much lower, a
number of
galleries also sell his work and a painting could be worth up to
30%-50% higher than auction value. Therefore, if
this painting were to be appraised for Insurance* purposes, it would
be expected to have a retail replacement value of alteast
$6,000-$8,000.
An art find indeed!
Retail
Replacement
Value is defined as the highest amount in terms of US dollars that
would be required to replace a property with another of similar age,
quality, origin, appearance, provenance, and condition with a
reasonable length of time in an appropriate and relevant market. When
applicable, sales and/or import tax, commissions and/or premiums are
included in this amount..
Alissa Anderson Campbell is
an art appraiser for Anderson Shea Art Appraisals. She specializes
in appraising European and American art for insurance, resale value,
estate, tax, and charitable donation.
Campbell
is a member of
the
Appraisers Association of America (USPAP-compliant).
Ph. 805.616.2781/www.andersonshea-artappraisals.com
*
This is not considered a formal appraisal. An appraisal is a legal
document, generally for insurance purposes, written by a qualified
expert who has examined the artwork in-person and is paid for by the
owner of the item. An appraisal involves an extensive amount of
research to establish authenticity, provenance, composition, method
of construction, and other important attributes of a particular
object. This article is restricted-use
and is intended for educational
purposes only.