ARTnews: BEST BETS: ART-WORLD INSIDERS IDENTIFY GREAT VALUES IN TODAY'S MARKET

Finding a good value in today’s art market can be tricky. How do you know when the price is right?

Some seasoned collectors believe that if an artwork is indeed extraordinary, then it is worth acquiring, no matter the expense. At least this had been the observation of David Norman, cochairman of Impressionist and modern art at Sotheby’s in New York. “No one ever shows me
a great work and says “I paid too much for it,’” Norman comments. “Many times, I have heard longtime collectors say that they only regret the ones they didn’t go for, out of fear that they would be too costly.”

First-rate pieces can also be found for moderate sums, but collectors should be wary of the ostensible bargain. “Something can be bought at a low price, but if an art-work isn’t a great piece, the fact that it is cheap doesn’t make it a good buy,” Says Susan Cahan, who, as senior curator of the Norton Collection in Santa Monica, has acquired more than a thousand works by emerging artists.

Still, collectors willing to take chances with untested art can make smart choices. “Ten years ago I was standing in the back of Christie’s, bidding on a vintage Lewis Hine print, and I stopped myself,” recalls Peter Hay Halpert. “The bidding was at $40,000. I thought, for this money, I could buy pieces by ten contemporary photographers
and keep these artists in supplies for a long time.” Halpert still buys the occasional daguerreotype, but now he focuses on new photography. “I’ve gotten ahead of the curve on a lot of contemporary photography and now know some amazing artists.”

“In contemporary photography, some of the most valued works are pieces that artist made early in their careers,” says collector and dealer Peter Hay Halpert. “If you trust your eye, photography is one area you can get ahead.” The talents on Halpert’s list include David Hilliard, whose narrative, multiple-panel pieces chronicle his relationship with his father and are priced between $1,500 and $3,000, and Marianne Courville, whose autobiographical
photographs include stills from her own childhood home movies and go for between $750 and $3,500. Halpert notes that “several other young women are doing interesting photography, and their pieces are just starting to pick up.” Among these artists, he mentions Justine Kurland, selling for $1,200 to $4,000; Collier Schorr, whose works range in price from $3,500 to $8,000; Katy Grannan, whose
pictures fetch $3,000; and Malerie Marder, whose photos sell for $1,500 to $3,800.

Summer 2001