Interview with BJ Kocen
Interviewer Tracy Baylor; Writter and Editor Sarah C. Barrow
Despite business slowing down due to the economy, many new buyers are less apt to purchase art for the first time; however, BJ Kocen advises that “for new art buyers and buyers purchasing on a small budget, this is a great time to buy.” In the local market, Kocen’s clients—of art connoisseurs and corporate buyers—continue to make investments in art, as they see the long-term benefits to their purchases.
Kocen noted that “these economic times have caused art prices to remain steady,” as the art world is not seeing the usual increase of ten percent. At present, the difference in pricing between established artists and emerging artists is that the established artist does not have to budge on his/her prices; whereas, the new artists are “certainly giving wiggle room to their pricing. But that doesn’t mean they devalue their art. The recommendation [from the art gallery owners] is for these new artists to start pricing low.”
Furthermore, the secondary art market—where buyers are able to purchase works at better prices verses the standard increase that occurs over time—has found a wider niche with new collectors, creating long term investments which are productive for the art market. This means that “the seller is getting a decreased sale price. But in turn buyers who enter the secondary market are getting prices less than the value. This means the new buyer of the art is getting a great deal.”
Published by Clarke Art Consulting © 2008
