An Invaluable Painting: California Agave

This month's reader submitted a lovely watercolor simply signed ‘Debbie 1985’. A Carpinteria, California resident said she discovered this painting of an agave in an antique store in San Francisco in the late 1990s. After spotting the painting on a shelf in the back office, the gruff shopkeeper pulled the dusty watercolor off the shelf. Although the painting was not for sale, he told our reader to make him an offer. They decided on $80.

After consulting appraisal price databases and auction records I could not locate an artist with the last name “Debbie.” As a first name, there were hundreds of artists with the common first name -- but guesswork made it impossible to confirm the artist.

As an appraiser I often come upon paintings with no signatures, indecipherable signatures, or unknown signatures. Unfortunately, it is nearly impossible for appraisers to assess values without identifying the artist. This is because value are inextricably linked to a specific artist’s history of comparable sales, which includes both auction records and gallery sales. There must be a paper trail of sales to substantiate value.

This watercolor was likely done by an amateur artist with considerable skill. The artist’s use of color, technical ability, and composition is accomplished. As a work on paper it is important to keep it out of direct light and moisture -- but “Agave” is in very good condition with no abrasions, fading, holes, or mold.

While the subject of the painting would appeal to collectors -- without pricing data, this painting’s Fair Market Value would only fall in a “decorative value” range. A decorative value is the price appraisers give to a commercial artwork by an unlisted artist.

Many of my appraisal clients ask how to buy art that will increase in value over time. Purchasing artworks by a listed artist means that the artist’s work is and will likely continue to be sold on the gallery and/or auction market.

Still, the first rule of collecting art is to buy what you love. Trust your instinct and buy art with which you have an emotional, spiritual, or intellectual connection. This way, if it does not happen to have increase in value, at least you love it.

When I asked our reader about “Agave” she said it did not matter to her if the painting was worth only $10 or $1000—because after nearly 20 years it was still one of her favorite pieces of art. Now that is a treasure indeed!

Alissa Anderson Campbell is an art appraiser for Anderson Shea Art Appraisals based in Santa Barbara, CA. 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). www.andersonshea-artappraisals.com