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Wednesday, September 04, 2019

by Diane: How much money is my painting actually worth? Not the purchase price?

WANTED THESE SOLD PAINTINGS
The money received for a short time
made me feel good
but now these paintings would be
more valuable for me to study.
 

 
How much money a painting is worth depends on the person -  the artist or the buyer. Obviously the amount the buyer is willing to pay for the painting is how much the painting is worth to the buyer. Right? No! Some buyers like bargains and want to hear the painting is worth more for their self satisfaction.

 The first time I was asked was in 1965 by Hale Wellman who purchased  several watercolors of palm trees painted in Tucson, Arizona. For insurance purposes he wanted to list my paintings as his belongings.  Since his daughter was one of my best friends, and my husband and I were newly married living as students on a tight budget, the paintings were very reasonably priced to sell. Hale wanted to know their actual value that must be different than what he paid. It crossed my mind that they were not even worth as much as he paid. Putting a monetary value on art is a superficial construct of our capitalistic society. Paintings were like gold ingots to keep wealth. At the time I was dumbfounded by this question making me see art in an unfamiliar light.  I do not recall rising above being wordless.

Even if not including the sentimental attachment I have for the memories my paintings give me, the worth of all my paintings are priceless to me. The value I have for them can not be measured in dollars. The true monetary value of my painting is not something I usually have in mind. I should hope my work is worth more money than the cost of the materials. But is it worth a salary for the amount of time I put into living and working with each painting?  Figuring that way I am working for free even if I sell a painting now and then for hundreds of dollars and once a few times for $1,200. Does it pay for my education and experiences that went into painting? Not even close!

What I make in money is less and less important to me in my senior years.  In 1965 I was encouraged by all sales when I needed the income for buying more art supplies. The small budget years when my husband was a graduate student  at the University of Arizona, I enjoyed going to the student store and buying supplies for a small fraction of what they cost now. Knowing the money came from someone who wants to have my work was a boost to my ego. But the supplies did not last and neither did the glow from the sales. my patrons from the 60"s have either down sized and in many cases have passed away. Some work has sold on e-bay or the Portland Art Museum Rental and Sales Gallery for several paintings that were once part of the  First National Bank Permanent Collection.

These days all my older work informs my new work. I welcome my older paintings back into my collection. Some friends have put my paintings in their will to go to me or my family. I am willing to pay to get the work back.



3 comments:

Rain Trueax said...

I can't even imagine though how you'd find room for all the work you've done over the years. You'd have to turn your living room into storage racks lol. And you can't have back the ones i own unless when I die the kids don't want them. Don't count on that though

Diane Widler Wenzel said...

LOL, I don't expect a huge number of these paintings to be returned for one thing. And the other is I can come most any time to visit the paintings you own of mine. Your children are much more appreciative of my work than some of the patrons who were of my parent's generation. One couple did say I could come and pick up my paintings and I better do it sooner than I was able. When I finally got to the Tillamook barn where they lived the two works were hopelessly mildewed. The top right painting of Sedona is the one I could not save. But that is OK because at least I could see it again.
If I could accumulate a strong body of work, maybe some public place would display it. Like Fall Creek Fish Hatchery and Research Center already does.
See my best work always sells and I did not keep many of the best ones.
Looking at the one of mine of the big oak tree that used to grace Shringhill Vineyards, the way I put the oil color on the vines was smoochy. Perhaps if I still had earlier paintings, I would have applied the paint more crisply.

Tabor said...

Art is mostly an emotional purchase as experts argue over technique and style endlessly.