Wednesday, February 10, 2010

Artist Rebrands Paintings to Sell on Craig’s List

by Harri Who For Outragous Art Auction Newletter

With a plunging art market, an enterprising artist is taking the art world by storm by offering to re-brand paintings with his signature. With the panache of the Art Trip name, these artworks are now selling for more than they were currently worth by the original artists. With so much art in the world that is not worth the canvas it is painted on, this move promises to revive a faltering art market.

With the value of paintings bought at Sotheby, Christy’s and yard sales dropping in value daily, the idea of rebranding the painting is timely. Coupled with the fact that 95% of art bought loses all its value once it leaves the gallery, the idea of rebranding and repackaging art is a natural.

Craig’s list reports a upsurge of traffic in its Art category; as everyone stuck with art they bought during the art bubble of the last few years (thinking they would going to make a killing by flipping the art but found that the art is now worthless )is listing the rebranded art hoping for a few cents on the dollar.

As is well known know to ‘players’ in the art community, but seldom discussed publicly is the fact that collectors of art hate 99.999% of the contemporary art they buy. This group has been rebranding their collections to unload the art bought though traditional auctions who now vow to “get that crap off my walls because it makes me want to throw up now that it’s not worth anything”. This seems to be a common sentiment among collectors.

Some example of art that has been rebranding with the Art Trip name.