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Tim in Appraisals
Tim in Appraisals, Fine Art Appraiser
Category: Appraisals
Satisfied Customers: 1155
Experience:  Certified Fine Art Appraiser, MA, President of ANA, CFAA,
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I'm considering purchasing a piece of art by David Freud (Lucien

Customer Question

I'm considering purchasing a piece of art by David Freud (Lucien Freud’s son) called Shroud.
It’s part of the collection he painted of his father on his deathbed titled Loosing Lucien / Dead Dad - this was his first major solo show in 2011 at Meller Merceux Gallary in Oxford
It's water colour on canvas about 6ft by 2.5ft
Submitted: 1 year ago.
Category: Appraisals
Expert:  Tim in Appraisals replied 1 year ago.
Good evening my name is ***** ***** may I help you in this matter?
Customer: replied 1 year ago.
Hi Tim,I'm looking to have a rough valution of the piece. I would be buying direct from David. As I can't just the price for pleasure alone I want to make sure it's an investment as well. Thanks for your help!
Customer: replied 1 year ago.
photos attached
Expert:  Tim in Appraisals replied 1 year ago.
We usually base valuations on sales records, gallery sale if they are listed and auction sales. of an artists work. At this point in time David Freud's has not entered the secondary auction market. so there is currently no sales history to base an opinion on his work as an investment. His art is currently offered at Saatchi Art an online gallery site. http://www.saatchiart.com/. The work they are offering has price tags of $10,000.00 to $30.000.00. If you go there you can see for your self. At this point it is a bit of a gamble.
Customer: replied 1 year ago.
Thanks Tim, I did a lot of research and found all the prices he has allocated to his art on Saatchi, though I feel this is his own valuation rather than what people actually think he's worth. He's offered me the piece for £3000 plus producing a video documentary for him. Which means paying equivalent to approx £6k. A gamble indeed - I guess I wanted your opinion on whether this piece would sell on for at least this price due to his pedigree. Thoughts?
Expert:  Tim in Appraisals replied 1 year ago.
Your assessment is correct the Saatchi prices are a created value. Plus a pedigree goes only so far. The current art market goes with proven winners. £6k is a lot to speculate with.