Verdult Art Market Index

We get tons of emails asking about the value of creations by William Joseph Verdult

Sacrifice

Often we get tons of emails asking about the value of creations by William Joseph Verdult. Here is an email that we want to share with you.

I currently own several pieces of original Verdult artwork. I am interested in selling them to help pay for my children's (x3) college educations. My question is, doesn't an appraisal (authenticated/certified type) actually also counts as a certificate of authenticity and as well as establishing a value?

Our response:

Thanks for the email.

The short answer is no.

Most people do not understand this.

The Certificate of Authenticity or COA comes directly from the artist/company. That Certificate is entitled a “Certificate of Authenticity and Insurance Appraisal”.

The COA or Certificate of Authenticity bearing the artist’s original signature contains the artist/company’s estimate of value and serves a dual purpose. The COA from the artist/company serves as proof that you have an authentic work and gives a guide for the replacement value. The COA basically says this work is authentic and if something happens to it and the work is required to be replaced, then according to the artist/company the value on the COA is what it would cost to replace it. This is a more subjective value.

The COA is provided to an Independent third party certified appraiser when that entity or person is officially appraising the work. The Independent Appraiser considers the COA when appraising the work as well as other factors, such as past sales of the artist work, similar sales of similar artist work and other factors are considered as well. The appraiser then comes up with the “market value” of the work. We have found that provided that the work has been appraised by an appraiser who is an expert in his field and an expert in Verdult artwork, the market value established normally with stands any sort of challenge in Court, by the IRS, or Insurance companies.

The value stated on the COA – especially for Verdult artwork is normally higher than the value that will be ultimately placed on the work by an independent third party appraiser.

For example, if the COA from the artist/company states $250,000, we have found that normally the market value placed by an independent third party appraiser is considerably less than the value on the artist’s/company’s COA.

At present we have commissioned several formal appraisals of Verdult artwork from an independent expert in Verdult work and Government sanctioned appraiser; values range from $16,000 up to $100,000.

You are probably aware that the art market in general is on a steep upward swing. We see the formal appraised market value of Verdult work going beyond the $100,000 range in the near future.

Hope this helps.

www.verdultgallery.com

Ever wonder what your Verdult painting is really worth?

Tranquil Setting

Ever wonder what your Verdult painting is really worth? Well there are a number of ways to find out. But before you do take a look at our posts "What is the real price of Verdult artwork? and William Joseph Verdult - Where's My $5 million?"

The best way to find out about the cash value of a William Verdult painting is to:

1. Look at what other paintings of similar kind are selling for on the retail market. You can do this by visiting verdultbluebook.com or Artnet.com;
2. Another way is to get a formal assessment of the value by a certified appraiser who is knowledgeable of William Verdult art work. Here you have to be careful to avoid as we call them in our post on “Instead of Getting a Barrack's lawyer's Opinion Consult with a Qualified Appraiser.”

Why a formal appraisal?

Well it will do two things for you. First it will let someone who is really qualified in pouring over thousands of paintings and data points who has experience in what is going on in the market come up with the worth of your painting. Second, you can use this valuable information to not only insure your painting; the paintings value becomes part of your personal net worth which you can use on your personal financial statement, and even as collateral to secure a loan.

In getting a formal appraisal we recommend that you use one of the preeminent experts in the field on William Verdult artwork. The qualifications of the entity and its impeccable record of not being reversed by either the insurance company or the Internal Revenue service in 20 years are exceptional.

Most important the entity has a "lifetime Appraisal" program. For a small free, after the initial appraisal you can get an update of your appraisal any time you want.

If you want to find out more how you can add value to your personal net worth, email us at mike@verdultgallery.com .

Lending banking a new creativity - Running Horse by William Verdult

According to Kathryn Tully of the Financial Times, here the story on Wall Street. "At lunchtime, the public atrium at the bottom of 60 Wall Street contains the normal assortment of city workers eating sandwiches or grabbing a coffee. A more unusual discovery is a number of art installations.

One, “Hip Hop New York” by Cao Fei from China, features a video installation of locals from New York’s Chinatown doing freestyle hip-hop moves. The installation is surrounded by everyday objects you might pick up around Canal Street.

In another installation, you can sit in an armchair in a booth and press a button to provoke a simulated storm, complete with thunder and lightning flashes above and torrential rain on a screen next to you. Or you can press another button to induce a restful sunset. This installation, by the Russian-born artist Vadim Fishkin, who lives in Slovenia, is called “Choose Your Day”.

Both were transplanted from an exhibition in the Byrd Hoffman Watermill Center on Long Island, supported by Deutsche Bank. Now the bank is using them to bring to life the public spaces around its Wall Street headquarters.

Deutsche Bank has about 50,000 pieces – the world’s biggest corporate art collection. But its contemporary art collection isn’t a static group of paintings that have haphazardly found their way into office boardrooms, promptly to be forgotten.

Deutsche Bank is one of a handful of global companies with a museum-quality collection displayed not only in public atriums and its own onsite galleries but exhibited in museums all over the world.

When the Worlds of Art and Finance Collide Impact on William Joeseph Verdult Artwork

Is it possible to use the tools of finance to understand the investment quality of fine art? According to Professor Rex Thompson of SMU Cox and Clare McAndrew of Trinity College, Dublin, you can quantify the investment risk of fine art and determine its collateral value.

Making a Market Modern
Thompson indicates that the art market operates at a somewhat primitive level compared to other developed asset classes such as the contemporary stock market. He likens it to 150 years ago, when paper stock certificates were traded under oak trees on Wall Street. Traders wondered who would succeed and who would fail among the mainly family-run businesses. The art market is traded with the same intuitive but grounded type of “guesstimates.” Over time markets mature, capital flows in, and markets stabilize—something that has not yet happened in the art market.

Though this has not happen in general in the art market, we see this as being more than a possibility for the art work of William Joseph Verdult. In fact, more and more opportunities are opening up to place a distintic "cash" value on  art created by Verdult. The Corporation's intent is to ensure a liquid market exist for Verdult artwork.

Getting back to Tompson's analysis, Thompson utilizes the sophisticated modeling techniques of finance, routinely used and applied to other capital markets, as a way to quantify the risk of art as an asset class. While art investors may be good at identifying good art and appraisers are pricing for the average relatively well, statistical analysis and issues go under the radar. From 16 years of data of 4,280 auctions from 130 international auction houses, French Impressionist paintings reveal the possibilities of the art market. The scholarly canon of Impressionist painters were chosen as they represent the most well-informed and liquid genre in the art market. Other genres such as Post-Impressionist, Modern, and Contemporary art markets may reveal other possibilities for a later analysis.

The findings show that the art market, in this case, holds promise as a viable investment. Thompson poses the question: “What do banks need to know about art for collateral purposes? Data about sale prices and estimates exist. Thompson's findings reveal that while art appears more risky than other assets, it is really not a total gamble.” He believes that if banks would lend either for the purchase of art works or provide investors with carry trade financing for inventory, the liquidity gained in the market would smooth volatility and bring more players to the market.

Reflections of Culture
Niches have arisen across various financial groups to further the art market’s development. A few firms have attempted art mutual funds that buy and hold art as their underlying asset. In some cases, high net-worth clientele receive financial services related to art by the largest of banks—JPMorgan Chase, Citigroup, and Bank of America. The recently announced Artist Pension Trust Beijing is a first of its kind in Asia and follows similar funds launched in New York, Los Angeles, and London, with plans to open additional trusts in Mumbai and Bangkok. The trusts are run by a New York-based firm, formed by art-appreciating investors seeking to develop financial service products for the art world.

With Wall Street’s desire to evaluate art’s investment potential, the authors’ research offers a solid methodology for moving toward banking and other financial applications. Thompson mentions that based on the analysis, lending 30 percent to 40 percent of the lower estimate for an appraised work of art might not pose a significant risk. In developing the analytics for this research, which brings the art market further into mainstream finance, the authors included buy-ins as a part of the framework. Buy-ins, when a work does not sell for the lower estimate but is bought by the auction house, have been missing from most other forms of art market analysis. But Thompson and McAndrew prove they are a necessary ingredient for an accurate valuation of art as collateral.

“Art is maybe the most fundamental expression of a culture’s identity,” Thompson concludes. “It represents a culture’s ability to do more than just sustain itself. The fact that we make more money than we need to survive, and can use it for expression, somehow completes the full circle.” The art market will continue to develop and mature if affluent individuals’ investments are successfully channeled and managed.

“The Collateral Value of Fine Art” by Rex Thompson and Clare Andrew is forthcoming in Journal of Banking and Finance.

William Verdult Brand in Good Hands

 
lake in Woods: See sale cash sale price on Artnet

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Prices of William Joseph Verdult artwork on Artnet.com and verdultbluebook.com

Actual cash auction prices for William Joseph Verdult artwork unveiled on artnet.com.

Thanks to Wealth Enterprises Corporation, for the very first time since Verdult was noticed and opened his own gallery in 1967; nearly 40 years ago, William Joseph Verdult artwork and "cash sales" of his artwork are being reported by Artnet, a major art repository that tracks trends and prices.

Click to see sales data

Artnet is one of the key places to research fine art online. Artnet online Gallery Network is the largest of its kind, with over 1,200 galleries in over 250 cities worldwide, more than 100,000 works by over 25,000 artists from around the globe. The Network serves dealers and art buyers alike by providing a survey of the market and its pricing trends, as well as the means to communicate instantly, inexpensively and globally.

Artnet’s Price Database is the most comprehensive color illustrated archive of fine art auction results worldwide. Representing auction results from over 500 international auction houses since 1985, the Price Database covers more than 2.9 million artworks by over 180,000 artists, ranging from Old Masters to Contemporary Art.

What does this mean for art lovers and investors holding Verdult artwork? For the very first time the art world has access to official "cash" prices of William Joseph Verdult artwork. Prior to the Artnet and Wealth Enterprises Corporation initiative, of the thousands of pieces of Verdult artwork, there were only four works of art by William Joseph Verdult recorded in any auction house or price repository.

The reason for this is though William Joseph Verdult is a listed artist (see posts on Exhibitions and Listed Artist), Verdult refused to sell his art through second party galleries. Verdult only sold his art through his personally gallery. It is well known that Verdult collectors were some of the elites in Las Vegas and Hollywood. Collectors included Paul Newman, Clint Eastwood, Telly Savalas, Frank Sinatra, Elvis Presley, Farrah Fawcett, Connie Francis and many more (See the Verdult Scrapbook). Later he would take the Pablo Picasso approach and exchange his works for goods and services such as expensive automobiles, boats, and even real estate. Thus Verdult artwork maintained an excellent following in the barter world but not the major art world. During this time no reports of Verdult cash sales were ever maintained by a major art price data base. We believe while this may have been good for a select few, art lovers, investors, the public, and the general art market had no clue of what Verdult artwork was actually selling for or what was the trend in Verdult artwork in the "cash market."

Today and going forward, art lovers, holders of Verdult artwork and potential buyers can get recorded data on "cash" sales of Verdult artwork. This allows Verdult art work to become more liquid and a broader and more diversified and rich market can be developed for Verdult's work.

Wealth Enterprise Corporation's next step is to continue to provide transparency to the Verdult market with two immediate goals:

1) Have Verdult artwork recognized by financial institutions where collateral and other asset based financial products are offered;

2) Have most sales of Verdult artwork recorded on www.verdultbluebook.com; and

3) Have Verdult artwork sold at Christies, Sotheby's or Butterfield's.

Though we do not have a crystal ball, we believe these initiatives cannot help but increase the demand for Verdult artwork. In turn, increase the "cash" price sought and gotten for Verdult artwork.

Artnet Company Background
artnet AG was incorporated under the laws of Germany in 1998. In 1999 Management took the company public on the Neuer Markt of the Frankfurt Stock Exchange. In 2002 artnet.com AG changed its name to artnet AG. Its principal holding is its wholly owned subsidiary, artnet Worldwide Corp., a New York corporation that was founded in 1989. On October 4, 2002 artnet AG left the Neuer Markt and is now listed at the Geregelter Market at the Frankfurt Stock Exchange.

If you have questions about the "cash" market, leave a post or send an email.

Art prices keep right on rising: William Joseph Verdult

According to Susan Moore of the Fiancial Times, the art bubble including art prices keeps right on rising. In fact she points out that the market is now equivalent to or greater than some countries gross national product.

It seems that the exceedingly rich just can't spend enough on art. A small group is also intent on spending more than the next person - and telling us all about it.

Market for William Joseph Verdult work

As for as William Joseph Verdult artwork, for the very first time, major art sites that track art trends are actaully picking up and reporting the value and sale of Verdult artwork. We expect that this trend will continue. Though a smattering of verdult artwork has now been reported, its expected that in the coming months two things will occur. First, in the coming months, the price of Verdult's larger art will continue to be reported. Secondly, the price of Verdult art work will continue to rise.

One of the defining characteristics of the year has been the reports of not-so-very-private, private sales. It all began in June with cosmetics heir Ronald Lauder's sensational purchase of Gustav Klimt's iconic portrait of "Adele Bloch-Bauer I" for an alleged $135m - believed to be the highest price paid for a work of art. A couple of months later, casino-owner Steve Wynn sold his Picasso, "Le Rêve", for $139m to the hedge fund billionaire Steve Cohen - a deal doomed when Wynn put his elbow through the canvas. By early November, entertainment tycoon David Geffen had sold one of Jackson Pollock's largest drip paintings, "No. 5, 1948", for a reported $140m.

Verdult and Peter Paul Ott, sculptor

Studied:

- Carmel, California School of Art.

- Studied Under:

- Peter Paul Ott, sculptor

- Stanley Brooks and Danny Garcia at the Carmel School of Art.

Taught:

- William as taught at Carmel School of Art, and have given numerous workshops around the country. His latest workshop was at the Houston Community College School of Arts.

Special Awards

- Special Resolution by the Georgia State Senate

- Artist of the Year” by the Costa Mesa Art League

To find out more Buy:
William Joseph Verdult - Complete Bio
William Joseph Verdult Short Bio
William Joseph Verdult - Scrapbook

 

Art Boom - Scorecard for the Recent Art Auctions

According to Bloomberg the scorecard for the recent contemporary art auctions around the world: New York, $240 million; London, $229 million; Hong Kong, $67 million; Tokyo, $1.1 million. How can this be?

Japan, the world's second-biggest economy, enjoying its longest expansion in six decades, has been left out of the current art market boom. For collectors, the message is: Buy now.

Tokyo's overlooked galleries are attracting a new generation of young, wealthy Japanese in their 30s and 40s, unfazed by the asset slump of the 1990s and encouraged by skyrocketing overseas prices for established artists like Takashi Murakami, Yoshitomo Nara and Yayoi Kusama.

``Japan is one of the last places where you have a long history of art, some of it quite good, with depressed prices,'' said Edwin Merner, president of Tokyo-based Atlantis Investment Research Co., which manages more than $1 billion in Japanese equities. Atlantis has a long-term buy recommendation for Tokyo- based Shinwa Art Auction Co., which held the country's first public auction of contemporary Japanese art last year.

``There is a huge possibility of growth in Japan,'' said Shinwa Art President Yoichiro Kurata, 42, a former fund manager who took over the flailing auction house in 2001.

Japan's art market accounts for only 2-3 percent of the world total. That's partly because of the restrictive way in which prices were traditionally set by a small group of dealers.

Kurata, local galleries, museums, collectors, art advisers and recently the government, are helping to change that, giving space to young artists and making prices more transparent.

`Years Behind'

Shinwa, the only Japanese company to hold contemporary-only art auctions, with inaugural sales in May and December last year, is now the largest auctioneer in Japan with 35 percent of the market. Still, Kurata has a long way to go to open Japan to the level of auctions in Europe and the U.S.

 

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ABOUT THE ARTIST: William Verdult

ABOUT THE ARTIST:

William Verdult , “the Dutch Master”

One of the very few American Master artists alive today.

Diverse style, in classical, portraits, contemporary, abstract, landscape, nature, still life, Treasures of King Tut series, Kings and Queens of Europe series consist of diamonds, gold, and other precious stones.

After nearly 20 years of work he completed his rendition of King Tut Treasures including in his paintings, gold, diamonds, and precious stones.

Headliner exhibits and showings of the Tut Collection and other works at the Sahara, Sands, Sundance and Marina hotels in Las Vegas, as well as five star establishments in San Francisco, Corona Del Mar, and Beverly Hills Hollywood California, Atlanta, Hawaii, Florida and Texas. Today seven pieces of the Tut 53 piece jeweled collection is on display at the Tanglewood Resort in Texas.

His art followers and personal friends include a list of whose who in Hollywood highlighted by his close friendship with Telly Savalas.

Frank Sinatra	Paul Newman
Jack Lord	Farrah Fawcett
Zsa Zsa Gabor	Lee Majors
Tom Jones	Kim Novak
Dana Mark	Connie Francis
'Police Academy'	Red Skeleton
John Wayne	Clint Eastwood
Alfred Hitchcock	Robert Redford
Elvis Presley	Telly Savalas

 

 

 

 

 

 

 

 

 

Documented receipts and records of sales of his art show his art appraising and selling for several hundred thousand dollars.

Verdult artwork sells and trades for thousands of dollars. His original works appraised value averages around $35,000.00 to $95,000. His limited edition lithographs appraise value range from $1,200 to $2,000 and up. He has even rarer jewel and gold encrusted original pieces and their values are several hundred thousand dollars each.

A true philanthropies he has donated money and many of his works to charity, state governments, educational centers and foundations. His work entitled ”Into The Battle Front” hangs on Top of the Mountain Building in Stone Mountain Park, Georgia. The Make a Wish Foundation, the Governors of Georgia and Hawaii and numerous universities have thanked him for his generous donations to their causes and institutions.

For more details see:

William Verdult - Biographical Sketch
William Verdult - Quick Take
William Verdult - Scrapbook

 

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