“Two of them will be magic, six of them will be OK, and two of them should be put in the bin.”
But art is a precarious livelihood. If an artist is going through a period when money is tight and receives an offer for one of their not-so-good works, they’re often tempted to take it.
It’s very hard, and sometimes unwise, to turn down a cash offer. These paintings often fail to settle in their new homes because there’s something fundamentally unsatisfactory about them. Eventually, the owners sell them on.
“That’s why bad paintings by good artists end up on the auction circuit,” Gormley says.
The paintings may sell at auction, but are unlikely to do well on the second-hand market and this can push down the perceived value of an artist’s work. Gormley can see both sides of the coin.
“When people want to invest in a living artist, they often look at their auction record, but this isn’t always representative of the quality or value of their work,” he says.
While he encourages potential investors to check the sales history of any artist they’re intending on buying, he always points out that this is only one indicator of potential financial return.
Like all those who sell art, he encourages people to buy what they love.
“It’s important not to push people down the investment route to start with. Once you buy your first piece, then the bug sets in.” A buyer who is happy with their purchase is liable to come back for more.
“If you buy a painting and change your mind, I’ll give you 80pc of the money back,” he says, giving us some come back if we put a foot wrong.
The selling exhibition, Gormleys at Charlemont Square, Dublin 2, continues until October 29.
It’s a massive space in the Celtic Tiger Revival style, arrayed with extremely expensive artworks, including a collection of 25 original Andy Warhol screen prints.
“If someone comes in with €150,000 to invest, I’d tell them to buy a Warhol. It’s a very safe bet. But if they come in with €15,000, I’d point them towards a good painting by Gordon Harris.
“In five years, it will be worth double what they’ve paid for it. And that’s a big statement coming from me.”
Harris (b.1977) is a figurative artist based in Galway. His works in the current show include some from his War Child series — poignant portraits of his daughters wearing war helmets — and Metallic Skulls, which depict human skulls wrapped in metallic foil. Gormley has just sold Camouflage Girl — a digital print on aluminium panel with silver leaf or €16,500.
“There are some that are going to sell as soon as they’re in the door,” he says. “I could have put double the price on this one and it would still have sold, but the market has to build slowly.”
And there’s the Hulk. This is a painting, also by Harris, titled Strength Within (€12,500), and shows the familiar green superhero, beaded with sweat, emerging with clenched fists from a background of gold foil. “A very specific customer will buy that,” Gormley says.
Strength Within is a fine painting, otherwise he wouldn’t have displayed it, but Gormley feels that it lacks the universal appeal of some of Harris’s other work.
The most dangerous time in an artist’s career, he explains, is when they’ve just had a sell-out exhibition. In that moment, they’re working from a blank canvas, in every sense of the word.
Strength Within by Gordon Harris
“They’re starting all over again. It’s nearly a spiritual thing. I know what sells and I know what people like, but the artist has to produce the work and they like to try new things. I’d never tell them what to do.”
Harris, in Gormley’s opinion, is at the correct stage of his career to start producing prints. When he does, someone who wants a Gordon Harris, but can’t afford an original, can buy a print for around €1,500.
Emerging and early-mid career artists are less expensive to buy, but riskier as an investment.
Sunset Dips by Maser
There are several paintings in the sale by Maser (from €6,500 to €9,000). They’re large abstract works in spray paint and acrylic that reference his origins as a street artist.
“A lot of street artists want to cross over to the fine arts world, but Maser’s work has international potential,” says James Gormley, Oliver’s son.
In November 2022, Strike Twice by Maser sold at Sotheby’s for €8,000.
“His work is selling at auction for more than the gallery price. We’d expect it to go up by 5pc every year.”
See gormleys.ie.