About Collecting Investment Aboriginal Art
Design Sydney-East, 2007
Steps to follow to acquire Australian Aboriginal Art
Someday you may find yourself standing in front a painting you really like, but with a considerable price tag attached. You may also be wondering whether the asking price is an accurate measure of the painting’s true present value. So, how exactly does the price for a work of art originate and how do you make sure your purchase price corresponds to true market price?
The best way to approach a potential art purchase is identical to the way you would approach any other kind of substantial investment: do your homework first. Being well prepared will give you a much greater comfort level when investigating the incredibly dynamic market of Australian Aboriginal art.
Australian Aboriginal art’s importance and value are now firmly established in today’s art market and Aboriginal artists today are commanding and receiving prices for works considered “investment level” by galleries around the world, by major auction houses, and in art centers promoting specific art communities in Australia. But this is a relatively-recent phenomena. While Aboriginal artists have effectively been producing their art for tens of thousands of years, ramped-up valuations have only emerged during the last 30 or so years with the growing awareness by non-indigenous people of Australian Aboriginal art’s uniqueness and beauty.
Clifford Possum Tjapaltjarri's epochal painting, Warlugulong, is a good example of how much pricing valuations have soared with respect to Australian Aboriginal art during the past four decades. Clifford's iconic work was first sold to the Commonwealth Bank of Australia in 1977 for a mere $1,200.00 AUD. The painting tells the "Dreaming" story of Lungkata, the blue-tongued lizard man who started a great ancestral bush fire at Warlugulong to punish his two sons who had killed and devoured a sacred kangaroo. The two boys are pursued around the country by their father's all-consuming fire and are eventually destroyed at a place near Yuendumu.
Clifford Possum Tjapaltjarri
synthetic polymer paint on canvas,
220 x 385 cm