Veritas, Vol. 26, No. 05, February 1986

              VOL. 26 NO 5
FOR THE FACULTY AND STAFF OF THE UNIVERSITY OF IMAM
FEBRUARY 1986
A lesson in collecting art: Buy for pleasure and profit
BY SANFORD SCHNIER
IF, WHEN VIEWING A PAINTING FOR THE FIRST time, you get the feeling that it is entrancing, totally consuming, provocative, pleasing and satisfy ing as if you were a gourmand seeing what a gourmet prepared, then step back, open your wallet or pocketbook. and purchase it.
Abu'll probably be making the right move.
That's the opinion of art expert and educator Vito Cag-giano, who teaches the course. “Acquiring Art for Pleasure and Profit" on Wednesday* nights for the School of Continuing Studies. Professor Caggiano has been highly successful in stimulating, dual careers of art and commerce.
In his class are 19 men and women ranging from their earty 20s to the late 60s. Who are they and why do they* take his class?
“One is a corporate art consultant who feels the extra knowledge will help her in her profession." said Caggiano. “We also hav e a wealthy stockbroker who can af-
ford art, and a major bank president. They* want to learn how to collect discriminated how not to be impulse buyers, and not to buy names just for names’ sake especially* if they* are not wise inv estments. One must evaluate the information and inv estigate tide and providence (who owned it before).”
At the moment, he pointed out. “the art world is providing a good platform for investment — more so than real estate. Art has almost alway s climbed in value, especially* in the last decade."
Indeed, each day* in the new*spapers. one is fascinated by the prices paid for top art: A landscape by Van Gogh sold for $9.9 million. Mantegna's Magi sold in London for $10.4 million. A Russian Faberge egg brought $1.76 million. and a photograph. Wall Street by* Paul Strand was sold by Pace/McGill Gallery* for $170,000. Of course, it is the Getty’s. Rockefellers. Forbes. Simons or museums w*ho can afford to buy the best. Just last spring J. Paul Getty* II gav e the British National Gallery* a gift of «£50 million ( $64 million ).
But ordinarv people can start a collection, too. “For a
Art expert and educator Vito Caggiano teaches the course, “Acquiring Art for Pleasure and Profit”for the School of Continuing Studies. His advice is buy for your ou*n gratification.
few hundred dollars." said Caggiano. “you can buy* good original art in South Florida at galleries, art shows, and from serious art students at the University* of Miami. Art schools are producing excellent w orks that show* promise. Ev en at the Coconut Grove Art Festival a small percentage of good w ork can be found.
“Look for w*hat pleases you and buy it if you like it. It’s ev en better if you seek expert advice. Buy it for vour own gratification Don’t try* to speculate in short-term gains. It may* take years for art to grow* in value, as the artist becomes famous.
“Abu should buy* righe hold it the right amount of time, and sell it at the right price. You need at least two of these three elements to make a profit. Start out by buying orig-
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