Colin Gleadell spends some time with George Economou, a Greek ship line owner who has assembled a 2500 work collection over a decade. Though Economou has the means to buy almost anything he likes, Gleadell describes him as a man who likes to get value for his money: ‘“Shouldn’t you consider value with everything you buy?” he asks.’
With that in mind, here are some of the tips on getting value in art that Economou gave Gleadell:
- “If you buy outside of London and New York, there is not the same competition, and some things can be bought for half the price they might otherwise fetch,” he says.
- legions of major works by minor artists whose names will be unfamiliar to all but the specialist. “For these artists,” says Economu, “you get equivalent quality for less money.”
- he avoids what he feels is a speculative and very expensive market, preferring the perspective of history to make his choices.
Art Sales: A magnate’s masterpieces (Telegraph)