Tuesday, September 30, 2014

Affinity Business Partner David Dike Fine Art Discusses the Emergence of the Texas Art Market


The art market, as a whole, does fluctuate, but within that market there are pockets of niche art for which the market has its own activity. David Dike recognized regional art when he started in the business in 1986. Upon traveling across the country to different art shows and fairs, David noticed that the art many dealers were handling was not exclusive to national and international names, rather painters that were regional to their areas; like the plein air painters of California or the Old Lyme paintings of Connecticut. This inspired David to research and focus on Texas regional artists. Artists that were active at the turn of the century to mid-century, creating works in the same style and period as other major nationally renowned artists. These Texas artists were studying at the Chicago Art Institute, The Art Students League of New York, or Shinnecock Summer School of Art.

Years after he started his gallery, David established the Texas Art Auction in 1996 from the support and encouragement of his Texas art collectors. This was the first ever fine art auction dedicated strictly to Texas art. The auction is still held annually and has produced records every year for Texas artists; helping in the growth and recognition of Texas art.

That being said, the Texas art market is still emerging and starting to be recognized on the national level. Some big names in Texas art you may start seeing at nationally recognized auctions are Julian Onderdonk, Robert Onderdonk, Paul Schumann, Edward Eisenlohr, Porfirio Salinas, Robert Wood, Dawson Dawson-Watson and Alexandre Hogue, to name a few of some of the great early Texas painters.


Texas also has its own cultural hubs from which artists grouped to create different areas/schools of art. San Antonio is one of the earliest for Texas historical and later impressionist painters. The Fort Worth Circle encompassed a group of avant-guard painters and printmakers in the mid-century. Dallas is another area where painters emerged and started different schools like the Frank Reaugh Club, Dallas Art Institute and later the teachers and students of Southern Methodist University art department. Founders of the art department at the University of Texas include a list of heavy hitters of artists who in the past five years are really making a mark and have increased in value.

San Antonio, at the turn of the Century through the 1940s/50s, was home to many of the Texas impressionist painters you will see at national auctions now. The best of which known is Julian Onderdonk who is most famous for his bluebonnet landscapes. Porfirio Salinas and Robert Wood are also known for their bluebonnet paintings. A soft rule of thumb… paintings with Texas subject matter by these artists seem to sell the best in Texas. Take a Robert Wood bluebonnet landscape to a gallery in California and it may not bring a premium; just as a Robert Wood Laguna Beach seascape may not sell at as high of a price in Texas as it could in California. It is important to recognize the value of these paintings within the appropriate market.

The Fort Worth Circle encompassed a number of avant-garde painters and printmakers who were generating a buzz in the 1940s, 50s and 60s. The time following WWII marked a period when these artists desired to create unique abstractions using exaggerated colors, which reflects the artists’ observation of harmony around them. Some of these artists include Bror Utter, Bill Bomar, Cynthia Brants, George Grammer, David Brownlow, Kelly Fearing, Marjorie Johnson Lee and McKie Trotter. These artists are particularly hot at this very moment. The trend of mid-century modern home and furniture design seems to have filtered over to artwork as well. Collectors are recognizing this and starting to snatch up these mid-century modern paintings. The market for these artists is on the rise.

Dallas has had histories of different artists that are important. Some of these big names include Edward G. Eisenlohr, Franz Strahalm and Frank Reaugh. The Frank Reaugh School based in the Oak Cliff area of Dallas was a studio and base from which Reaugh would take a group of artists every summer on a tour of West Texas, where he and 10–12 students would paint plein air, primarily on boards with pastels. Frank Reaugh pastel paintings of the West Texas plains that capture the historic cattle herding era are quite valuable and can be in the mid-five figures; and David anticipates these values will hold.

Olin Travis was another early Dallas painter. He received some of his formal training as an artist at the Chicago Art Institute and the Broadmoor Academy. He would summer in Arkansas, where he started a summer school for artists to paint in the city of Cass. He later founded the Dallas Art Institute where many early Dallas painters got their start. The art department at Southern Methodist University is another school which included artists who studied and then later taught. These painters include Jerry Bywaters, Otis Dozier, DeForrest Judd and Ed Bearden. Founders of the art department at University of Texas in Austin include William Lester and Everett Spruce; who were also later known as part of the Dallas Nine.


Arguably, the group’s strongest works to date are their regional works from the 1930s. Like the American Regionalists, Thomas Hart Benton and Grant Wood, the paintings were executed in a style that was tightly rendered with hard-edged forms reminiscent of the WPA mural paintings. Charles Umlauf also taught in the art department at UT Austin, and is one of the most important Texas sculptors.

The Texas art market continues to grow. The emergence of the Internet seems to help paintings find their way to David Dike Fine Art from places as far as Switzerland and Spain for example. An oil painting of a Texas landscape by the early Spanish and American, San Antonio artist Jose Arpa might be worth a couple hundred dollars in Spain; but once it returns, it could sell in Texas for upwards of several hundred thousand dollars. While the Internet makes the market seem universal, and the world smaller, it is important for niche and regional art to find its way home.

By: David Dike Fine Art, ISA Affinity Business Partner

www.isa-appraisers.org

About David Dike Fine Art: David Dike Fine Art specializes 19th and 20th century American and European paintings with an emphasis on the Texas Regionalists and Texas Landscape painters. The gallery provides a compilation of traditional and distinctive art for both new and mature collectors. http://www.daviddike.com. 214-720-4044

http://www.daviddike.com/

Thursday, September 25, 2014

Advanced Training from ISA – How to Write a Broad Evidence Report

ISA’s Oct. 20 webinar on the broad evidence report is a perfect opportunity for ISA candidates for CAPP certification, as this type of report is now required for final peer review. But, don’t let that dissuade you if you’re not applying for CAPP certification. The one-hour, live webinar, explaining and clarifying the concept of the broad evidence rule, will be beneficial to all appraisers, regardless of previous experience in preparing complex broad evidence appraisals.

ISA Live Webinar: The Broad Evidence Report
6:00-7:00pm CT on Oct. 20
1 ISA Professional Development Credit
Members: $40.00   Non-members: $40.00
Presenter: Leon Castner, ISA CAPP
Register Now

What is the broad evidence rule? The broad evidence rule is used by insurance companies to determine the cash value to be paid out to the insured in the event of a claim. As opposed to using the traditional cash value (replacement cost minus depreciation), the broad evidence rule can take into account such factors as the age of the property, its tax value and any possible profits the item may have accrued. The broad evidence rule does not specify any one method to value any one piece of property, only that the means which most accurately display the true cash value of the property will be used.

Although a brief history of the concept will be stated during the webinar on Oct. 20, the presentation will be more pragmatic and provide suggestions as to how to perform the appraisal and how the report should be formatted. It will cover the who, what, where, when, why, and how of the process and seek to be clear, straightforward, and practical.

Following the presentation, there will be time for a Question and Answer session.

Monday, September 15, 2014

10 Reasons to Attend the ARC Course on Sept. 29

Here’s our second installment of our Top 10 Reasons to Attend an ISA Course. This time, it’s for the Antiques and Residential Contents (ARC) Course, coming up Sept. 29 to Oct. 5 in Naperville, Ill.

Ten Reasons to Attend the ARC Course
  1. Complete a required step for achieving Accredited Member status
  2. Learn how to recognize valuable items in many categories
  3. Make new business contacts and friends
  4. Earn 52 ISA Professional Development credits
  5. Get hands-on experience in a local antique shop
  6. Learn the lingo for describing different items
  7. Gain from others’ experience in classroom discussions
  8. Take the mystery out of furniture identification
  9. Enjoy great accommodations at the Marriott and NIU
  10. Broaden your competency areas
  11. Discover the latest trends and tips in this category through our recently added Lecture, “Trends and Tips for 2014/2015”
This is the time to expand your skills and set yourself up for greater success. Do it through ISA education. Register for the ARC course today.

Wednesday, September 10, 2014

Board of Directors Election Results Announced!

We are pleased to announce the results of the recent ISA Board of Directors election. Three positions were available during this cycle, and we’d like to congratulate ISA’s newest incoming/continuing board members:

Perri Guthrie, ISA CAPP (Woodside, CA)

Cindy Charleston-Rosenberg, ISA CAPP (Elkins Park, PA)

Fred Winer, ISA CAPP (Baltimore, MD)

Thank you to all ISA members who participated in this important process by taking the time to cast your votes.

Nini Hamalainen, ISA CAPP and Selma Paul, ISA CAPP will be retiring from the board in November. Continuing board members include: Christine Guernsey, ISA CAPP; Libby Holloway, ISA CAPP; Steve Roach, ISA AM; Hughene Acheson, ISA AM; Marian Aubry, ISA CAPP; and Karen Rabe, ISA CAPP.

Perri and Fred will become officially seated at the next ISA Board of Directors meeting on Nov. 14 in Chicago. Officer elections will take place at that time, with results to be announced shortly thereafter.

Congratulations to Perri, Cindy and Fred!

Friday, September 5, 2014

Future Revisions to USPAP

The Appraisal Standards Board has issued their third exposure draft of proposed changes for the 2016-2017 edition of USPAP. Although the last thing on your mind is what might occur with USPAP in 2016, it does give rise to pondering issues that are sure to be significant in only a few years. Since the ASB is requesting comments on these proposals, I thought it might be wise to list a couple of them that might raise an eyebrow and even result in a few of members taking the time to put their thoughts on paper.
  • Changing the definition of an appraisal report to any communication of an appraisal or appraisal review to a client or authorized party that includes a signed certification. (Oral reports will still require the certification to be included in the workfile.) This will allow other correspondence sent between appraiser and client to be considered as preliminary and/or a “draft.”
  • Drafts must be clearly stated as “drafts” and that the opinions rendered are subject to change. They must not contain a signed certification. These communications must be kept on file or in file until superseded by the subsequent report.
  • Appraisal review reports may be exempt from the requirement to report the effective date of the review, unless it includes an assignment to value the property.
  • The ASB is suggesting retirement of ALL Statements on Appraisal Standards.
  • Any fees paid for the procurement of an assignment must be disclosed including referral fees or fees associated with a delivery system required by the client (a portal).
As you can see, revisions and issues never stop. These are only proposals, but this is the last draft for public comment. Go to www.appraisalfoundation.org for more information or to submit any personal comments.

Leon Castner, ISA CAPP