It has been a long time since the last issue of the
mam/fa newsletter and we have been happy to learn that some of you
actually look forward to receiving it. In this age of postal overkill this is
nice to hear. We will continue to publish on an occasional basis when
we've accumulated enough news to make it worthwhile for all concerned. As
an added treat, we are doing our first four-color issue; some of the
illustrations are so important, we didn't think black and white could
possibly do them justice.
This column will deal with questions and concerns
most frequently communicated to us by collectors and investors seeking our
advice. The biggest issue at the moment is the crisis in Mexico and how that
will affect the market for Mexican art. It is not possible to have all the
answers, of course, but judging from the past twelve years it appears that
the market has risen steadily and that prices will hold and rise in the long
run. In the short term, some prices will probably drop, especially for artists
whose market is unilaterally Mexican, e.g., Dr. Atl or Claussel. For artists
with worldwide markets like Tamayo, Rivera and Kahlo, the situation
is rosier. Still, Mexico provides the backbone for some of the highest
prices achieved by these artists (consider the record prices for Mexican art
set at auction in the last year) and bidding against foreign collectors will be
doubly expensive for Mexican collectors in the next set of sales. Also, many
Mexican collectors are considering selling artworks to raise cash for
investment in the low stock market in Mexico right now, so increased supply
may provide some bargains for alert collectors of Mexican art. The best advice
continues to be to buy what you like and to be aware of prices and quality.
Certainly there will be some opportunities to buy well in the next year or so
but it is always unwise to buy any work of art simply because it's a bargain.
This advice is sound no matter what the market is doing.
