Corralling the Western Art Market
January 2007
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.AMERICAN INDIAN ART
“Overall, there is growth in this market. There definitely are opportunities for collectors to acquire nice pieces at competitive prices.” —Terry Schurmeier, Cowboys and Indians Antiques, Albuquerque
Pottery: This category is currently undervalued. Look for early 20th-century pieces in perfect condition that can be attributed to makers such as María Martinez (San Ildefonso Pueblo), Reyes Galván Aguilar (Zia Pueblo) or Felipita Aguilar García (Santo Domingo Pueblo). A medium (11-inch) García vase will realize about $8,000 at auction, while a large, high-quality Martinez olla (jar) can command $75,000 or more because Martinez’s work sets the artistic standard for Pueblo pottery and therefore is the most desirable.
Baskets: The new investment collectible, baskets often aren’t attributed to a maker the way pots are, so look instead at size, shape, decoration, quality of weaving and condition. Pictorial baskets, decorated with figures and animals, are more valuable than those with geometrical decorations. Large 19th-century Apache ollas will fetch $15,000 to $30,000 at auction, depending on the elaborateness of decoration. A small Pima horsehair basket may run only $100.
Navajo weavings: Pre-1910 Navajo textiles are blankets, not rugs. Distinctive “Germantown” blankets woven from wool sent west from Germantown, Pennsylvania, feature tight, canvas-like weaving. Small, high-quality Germantown examples go for $1,000, while larger examples retail for $15,000 or more. Blankets woven from locally produced wool during the Late Classic period, circa 1880, are rare. Top-quality examples sell for $200,000 and up.
Artifacts: Be very careful. Federal and state laws restrict the types of American Indian artifacts that can be bought and sold. If an antique object is described as “funerary,” “ritual” or “ceremonial,” just walk away. For everything else, insist on obtaining detailed documentation of the item’s provenance.
PHOTOGRAPHY
“Look very carefully at the condition of photographs, not only soiling or tears but also the tonality of albumen prints. Look for richer, purplish-brown tones rather than light brown.” —Daile Kaplan, director of Photographic Auctions, Swann Galleries, New York
William Henry Jackson: At the high end of the price scale, an 1880s orotone locomotive image on glass with rich tonality will realize more than $20,000 at auction. Jackson’s mammoth-plate Colorado landscapes can be found for $5,000 to $10,000 in galleries. If you’re not conversant with terms like orotone, albumen and platinum print, enlist the help of an expert. Use caution when buying photos at online auctions, because it’s difficult to judge the quality of the lot.
Timothy O’Sullivan: The work of this master photographer of the 19th century is becoming increasingly rare. Examples of his survey photos occasionally come to market and range in price from $2,000 to $10,000, depending on quality, size and subject matter. To find one of these prints, keep an eye not only on photographic auctions but also sales of Americana.
Edward S. Curtis: Best known for his romantic yet ethnographically precise portraits of American Indians. Vintage platinum prints by Curtis have escalated in price from $30,000 to $160,000 in just one year, according to Curtis specialist Christopher Cardozo of Cardozo Fine Art, Minneapolis. Individual large-format photogravures from the portfolios of The North American Indian book set range in price from $1,000 to $30,000 for a picture of Chief Joseph or another historically important American Indian. Be aware that prints are still being made from Curtis negatives. If you are buying a vintage print or photogravure, be sure it’s really vintage.
Elizabeth Hanes is a New Mexico freelance writer who frequently covers antiques.