PAINTINGS
“Significant works of very high quality are extremely hard to find. This factor has helped make American paintings a very strong market right now.” —Dara Mitchell, director of American paintings, Sotheby’s New York

Albert Bierstadt: Always desirable, but his best works rarely come on the market, so be opportunistic—grab them when you can. Top works go for $5 million up. At the other end of the spectrum, you can still pick up small oil studies and canvases of idealized American landscapes for less than $15,000.
Frederic Remington: Prepare to spend in the seven figures for a top-quality painting of 1800s range life and $100,000 or more for an original sculpture. Beware the bronzes of broncs and cowboys: They’ve been prolifically faked. (See “Tainted Bronze,” Art & Antiques, Oct. 2006.)
Charles M. Russell: A large oil on canvas depicting a band of Indians sold for
a record $5.6 million in 2005 at Coeur
d’Alene Art Auction. And there’s no such thing as a “low-end” Russell—even a 4-inch by 4-inch watercolor will fetch upwards of $50,000 at auction, and prices will only continue to climb.
Joseph Henry Sharp: Subject matters here. Expect to spend in the $40,000 range for a small (but more desirable) study of an American Indian or a larger (16-inch by 20-inch) landscape. As the most-collected of the so-called Taos School, his works should hold their values.
Oscar Berninghaus: This Taos artist may be undervalued. A 16-inch by 20-inch gouache on panel of an Apache encampment sold at the Santa Fe Art Auction in November for just $51,000, well below its $80,000 to $120,000 estimate.
 
FURNITURE
“Especially as there is less and less Molesworth on the market, other rustic furniture will become more collectible.” —Terry Winchell, author, Molesworth: The Pioneer of Western Design

Shoshone Furniture Company: This most desirable of ranch furniture is commonly referred to simply as “Molesworth,” after the craftsman who designed it. Only about 7,000 pieces of Thomas Molesworth’s “Cody Style” furniture (incorporating elements such as burled wood, leather, hide, antlers and Chimayo weavings) were produced between 1935 and 1975. Early pieces are scarce. You can find them at major houses like Sotheby’s and also at smaller places, such as the Cody Old West Auction and specialty dealers in Wyoming and Montana. Expect to pay about $30,000 for a leather club chair with matching ottoman. A small table lamp of burled wood with stretched hide shade usually sells for about $5,000.
Wyoming Furniture Company: Started by Paul Hindman, a craftsman who worked for Molesworth, this furniture also reflects “Cody style.” Currently considered less desirable than authentic Molesworth, this furniture is more affordable when it can be found. Figure to spend half what you would for Molesworth. Again, work with a specialty dealer to find these pieces.
Historic ranch furniture: Molesworth and other makers furnished the lavish ranches and guest lodges of the 1930s, including Moses Annenberg’s “Ranch A” and “Gros Ventre Ranch,” which belonged to the Abercrombies of Abercrombie & Fitch. These pieces recently have become more desirable strictly because of these associations. However, make sure to get a clear provenance before paying an “association” premium.