Stop, Thief!

These factors influence the price of the artwork.

Normal markup for fine art is 50 percent for the dealer and 50 percent for the artist or seller, Alexander says. Demand for an artist’s works increases his or her share of the price.
Collectors should also know the differences between the three types of appraisals, Alexander says. An "insurance replacement value," is the most common appraisal, which quotes the full retail replacement cost including mounting and framing.

"Fair market value" is a necessary legal appraisal such as to satisfy IRS guidelines for a tax deductible charitable donation or for state wills and trusts. "Market value" is the sale price for liquidation purposes within a specific time frame.

Guarantees should also be scrutinized, Alexander says. They should be in written form, stipulating a full refund with no time restriction if the art turns out to be a forgery. They should also be signed and dated by the guarantor and contain the phone number and address of the guarantor.

"Run it by an attorney or an accountant, whatever is proper, so you can get your money back," Alexander says. "There are a lot of forgeries out there, especially in prints sold in online auctions."
Distinguishing Great Art from Average Art
Jon and Rebecca Zoler of Naples have been collecting art for more than three decades. They started with American Folk Art in northern New Jersey, where Jon, a marketing research executive, commuted into Manhattan. On weekends, the couple scoured art and antique shows, auctions, art festivals, private collections and museums in search of 18th and 19th century furniture, watercolors, stoneware, portraits, cast iron and wood sculptures, and weather vanes.

Tall and mustachioed, Jon picks up a precious 1860 Henry Leach Miss Liberty weather vane.

"She’s an American symbol with a graceful form," he says. From the waist up, she’s made of zinc. From the waist down, her swirling skirt is copper, a distinction that Zoler has not seen before on this type of weather vane.

Zoler carefully studies whatever artwork he is interested in. Like most astute collectors, he has a personal art library. He describes his research as "due diligence," which leads to the knowledge necessary to distinguish great art from good and below-average art.

Before moving to Naples, the couple auctioned off most of their collection at Sotheby’s in New York. The January 2005 event was featured in Art & Antiques magazine. The top seller was a carved and painted eagle by Wilhelm Schimmel, Cumberland Valley, Pa., circa 1865-75.

In Naples, the Zolers built a magnificent, modern, one-story home within walking distance of the Gulf. The walls are off-white, a fresh palette for the couple’s developing collection of contemporary modern art. The Zolers have put a $10,000 limit on each work of art they purchase.
Much of the art is commissioned to emerging artists such as painters Joel Masewich of Ontario, Canada, and Steven Burkart of Brooklyn, N.Y. Sculptor Robbie Robbins of San Francisco shaped a series of stainless steel, free-style statues that surround the couple’s backyard pool.

Commissioning original artwork from artists allows Zoler to participate in the creative process, he says. He’ll measure a space for a painting overlooking the dining table or ask the artist to see the space. Before the final version, the artist paints a small version, called a "maquette," which becomes the larger work of art after the Zolers are satisfied with the motif and colors. Buying directly from artists can also save additional fees from dealers and auctioneers.

"Art should fit in with your house and architecture," Zoler says.