Rags or Riches?

The book is designed for any person interested in reading the story of an amateur art investor and the challenges he had to face over thirty years in art auctions and art deals worldwide. The secrets of auctions and the art trade are discussed and highlighted in unique, true stories that happened to the writer so that the reader gets first hand knowledge of how the art market works and how the readers can protect their interests either when buying or selling fine art. Whether employed or semi-employed in any country of the world and regardless of background, the book attempts to assist you and guide you to invest wisely in art, avoid the loopholes and traps of the art trade and auctions and make the millions you are dreaming of.

Starting with a ten pounds note in 1983 I had no idea about auctions, art, artists and their price brackets. On a wing and a prayer, through thick and thin, with hard work and study of the subject, I managed to get on the ladder of trading decent art at small auctions, bigger auction and by 1986 I was selling contemporary art in the evening sales of Sothebys New York. Profits of 100% became a norm followed by profits of up to 1000% for artists of all major nationalities and in most styles of 19th and 20th century art.

My journey into art took me to unexpected heights very often but also to infrequent lows due to dips in the market and unavoidable mistakes due to inexperience. Trading Greek art primarily when that market was at its best allowed me constant high profits and collecting opportunities. At the same time the experience and knowledge acquired over the first nine years allowed me to go back to teaching full-time in 1992, while trading and doing very well. The best trading stories happened during the years 1995-2008, when experience and hard work led to sales of one painting for 60,000 sterling pounds and profits of over 1000% on many occasions.

The significant sums of money made were once more channeled back into hundreds of paintings and a good collection of art has been formed over the last twenty-five years. However, the most significant investment of the last thirty years has been the invaluable experience acquired over time all over the globe, which enables me to invest wisely and profitably today and at the time of writing. I feel the need to share my experiences through these writings, which hopefully will enable you the reader to apply when investing, trading and dealing in art.