THOMAS MALCOLM COOK

Hello Again,

I have been thinking about a couple of ideas for quite a while. Is it a good idea to buy art in a down economy? And, how does a painting's value hold up against other purchases over time?

I am rather biased when it comes to questions of "Should people buy more art?" Well, hell yes they should! I'm a painter what should I say? But, if I step outside myself and think, "What is the value of that painting I sold to my neighbor's best friend in 1988 worth today?"

I've found that a difficult question to answer, since all the paintings I did back then were pretty different from one another, and few, if any, were sold or resold after a few years. There is just not much data for the current "value" of said pieces.

Paintings I created in the 1990's are a different story. I painted more in series and those paintings have be sold or resold recently. Ah, potential data for a conclusion.

In one example, I painted a series in the 1990's called the Bogeymen based on dream creatures of my childhood. The overlapped figures are crowded in the picture plane, one on top of the other, sharing arms and legs and teeth, always displaying some symbol of power or aggression like a boot, scowl, or pointed finger. To this day I consider these paintings as some of the best I have ever done.

My first solo gallery exhibition at the Indigo Gallery in Lake Oswego, Oregon was of these works. Although I didn't sell any at the show, I did sell some around that time, and have continued to sell the paintings I created during those years, including a sale last year.

How has the value changed over time?

In 1993 I sold them for an average of $500.

In 2009 I sold one of the same size and style for $1200

That is a 140% increase over 16 years.

Compare that with some other items one could purchase in 1993,

If you would have bought a brand new Toyota Corolla in 1993 it would have cost you $12000. If you took care of that thing like a baby with all scheduled maintenance, parked it in the garage every day, in 2009 it would be worth about $2800, losing over $9000 in value, not counting the cost of scheduled and unexpected repairs.

What about a brand new, state of the art VCR in 1993? It would have cost you about the same as a Bogeyman painting, at about $400-$500. Today? You couldn't give it away.

What about saving? Put that wad of $500 in a 2% savings account and what do you walk away with in 2009? $672.88.

This is a very isolated example you must understand. Art is not always going to increase in value, and actually that is not really the point of art, not even by a long shot. To look on a piece of art day after day and marvel at the creative energy imparted by the artist and to be able to gaze upon that physical manifestation of the artist's gift is more the point and joy of collecting.

I came late to art collection, mostly adorning my walls with my own creations, until about five years ago. I treasure the pieces I have in my collection over most other non-human, non-feline, non-pug items in my home. In case of fire, grab Carrie, cats, pug and art. Everything else can be replaced.

My point is this.

If you are looking for a way to brighten your world during these dark economic times, dollar for dollar, art is a great choice. The artists be painting, drawing and sculpting, just in case.

Thomas Malcolm Cook