Collecting Art for Pleasure and Profit

In this fun, engaging, and personal account by one of New York's most accomplished art collectors, budding collectors will learn how to build their art collection invest in art, learn who's hot who's not, while avoiding frauds and fakes, of which there are many in the $60 billion dollar a year art market. When you enter an art fair or gallery and don't know what to buy, ask yourself "Which piece would I like to steal?" Once you've circled the room and spent time looking at your object of lust, try to understand why you chose it. The great thing about art fairs is that you, as the collector, are in the driver's seat. Art is as viable as other financial investments—and more beautiful and historic. When you buy the right pieces, they appreciate in value. Over the past 40 years, beginning when he was a pre-med and art history student at Harpur College, the author acquired works by contemporary artists Picasso, Warhol, Basquait and Koons as well as Old Masters such as El Greco and Rembrandt. He explains why he collects certain artists, why certain artists are popular and which works are a must-have for every art collector. Drawing on his personal experience, he takes the reader on a journey through art history and styles. He guides the reader through buying art at Christie's and Sotheby's—the two biggest players in high-end art sales—as well as other art markets: art fairs, auctions and other opportunities off-the-beaten path in the U.S. and international art markets. More importantly, he explains how to find a great deal and what strategies to use to win the piece you want at auction. Should you bid in person at the auction house or hire an agent to bid for you? Timing is also important--buying certain pieces in a depressed market can be a great strategy. Whether it's for personal enjoyment or as a financial investment, collecting art can be an exciting and enriching activity. Dr. Manes discusses how you can do it to maximize your investments and get the most out of your pieces for as long as you have them.

Dr. Manes is a graduate of SUNY Downstate College of Medicine in 1972 and earned a Law Degree from Hofstra Law School in 2005. He currently practices orthopedic surgery in the New York area and specializes in sports medicine, pain management, arthritis and arthroscopic surgery. He has been a passionate collector of art for the past 40 years and is presently on the Board of the NCMA. He has lent numerous works of art from his collection to museums including the Museum of Contemporary Art (Chicago), Heckscher Museum, NCMA, Jewish Museum-NYC, and others. He is the founder of the Manes Peace Prize Foundation, which has donated more than a million dollars to numerous charities, individuals and organizations that promote peace through art and education. He recently published a book entitled "The Nobel Peace Prize and How it has Failed Us". As a result of a large donation, a former Frick building on the grounds of the NCMA has been renamed the Manes Art and Education Center. He has four grown children and lives in Old Westbury, N.Y.