How do you know whether the art you are buying is a worthless fake or an overlooked masterpiece? Bruce Munro asks the question as he goes from art novice to shrewd investor, and back again.
The thought that this $70 painting might actually be rather valuable is not my first.
No, what first catches the attention in the Mosgiel charity shop is mere mundane detail; the realisation that these yellows and browns would sit well with the furniture in the corner of the lounge that has nothing on the wall.
Borrowing a stepladder to peer at the framed image more closely, high above rows of second-hand dresses and retro jackets, three more facts register in quick succession.
It is not a print but an original oil painting. It is a beautiful and skilfully executed sunset seascape in which the light veritably glows within the liquid wall of the crashing wave. And, it has been signed by the artist.
It is not until the painting is hanging, secure and pleasing in its ordained spot on the living room wall, that the pulse of avarice is quickened.
Who is the artist? Are they someone well known? Could the painting be valuable?
It is difficult to read the signature, painted in the wave trough in the lower right corner.
Is the first letter a "D''? Is that a surname beginning with "G''?
A local art gallery director says he is unaware of an artist called "Dan Gibbon''.
Perhaps it is just one word.
A few variations are offered for Mr Google's consideration.
On "Manessien'', the results include a "Manessier, Alfred''.
Alfred Manessier, born December 5, 1911, died August 1, 1993, was a non-figurative French painter, stained-glass artist, and tapestry designer, part of the new Paris School and the Salon de Mai, states Wikipedia.
Finding inspiration in natural surroundings, Manessier began to paint landscapes at an early age, adds the website of the Guggenheim Museum, which holds one of his paintings in its New York collection.
He studied in Paris but disliked the strictures of formal education, preferring to visit the Louvre and copy paintings by old masters such as Rembrandt, Rubens and Tintoretto.
During the later 1930s, Manessier's work showed the influence of cubist and surrealist painters. During World War 2, he helped establish the non-figurative painting movement in France.
Christie's has sold his paintings for thousands of dollars.
In 2010, the fine art auction house sold Manessier's Enfant perdu dans la forêt for $NZ90,624. The excitement is growing.
The clincher is finding two similar seascapes up for auction online.
One, described as "a terrific original painting by the great 20th century French artist Alfred Manessier'', has an estimated value of $23,000 to $29,000.
Thoughts of capital gain are growing almost as quickly as my self-regard on becoming a canny and esteemed art buyer.
It is some time later, speaking by phone from Auckland, that Hamish Coney explains how it should be done.
Mr Coney and his partners, including former Dunedin man Ben Plumbly, run Auckland auction house Art+Object.
"How do you know if you've got a fake?'' Mr Coney says.
"Well, it's all about knowledge.''
But the short answer is, you don't know.
"Unless you were standing there next to the artist when they were making the work, you don't know,'' he says.
So the bona fides, the credentials, of the sale process become important.
"Is the gallery that is offering you the work the artist's representative gallery? Can they provide you with information on the history of the work in terms of its provenance?''
Buyers need to beware if they see fine art for sale through broad-category online auction sites.
But the internet can also help people begin to assess whether a piece of art is a worthless fake or an overlooked masterpiece.
Whether the art is representative of the purported artist's style, whether or not it is signed, and whether the signature matches that of verified works, all come in to play.
But some work by an artist can be atypical, and not all artists always sign their work, Mr Coney says.
"So, you have to look at it on a case-by-case basis, having some knowledge as to what is typical for that artist and start from that point.''
Some artists' estates might also be able to help verify the work.
Forgeries do occur. In the United States, court cases are still pending over 40 fake paintings, claimed to be by the likes of Pollock, de Kooning and Rothko, which were bought and sold for more than $65million by the now defunct 165-year-old New York art gallery Knoedler & Company.
New Zealand, however, is not awash with fine art fakes, Mr Coney says. During the past decade, he has seen about five known forgeries of works by renowned artists.
An estimated $20 million in art has been sold at auction in New Zealand during each of the past three years.
In the case of the Manessier seascape, a bit more delving proves deflating.
The "terrific'' seascape up for auction is passed in without a bid.
Online opinion about the other is heavily weighted against it being genuine.
The signature on the seascapes is different from those on Manessier's verified works. And all of his celebrated works are decidedly abstract.
Quelle dommage, exclaims the inner art investor as his balloon pops and bank account evaporates.
But as the grandiose mist lifts, the eyes see gulls swooping and hovering in a glorious sunset sky as a frothing wave breaks on a powerful, churning sea.
The beauty of the art, the reason for its purchase, is wholly intact.
It is a common trait among virtually all art buyers, Mr Coney says.
"All of the collectors I deal with are looking to buy things they like.
"People don't buy art in the way they might make other investments; coldly, rationally, in effect saying ‘I'm not really interested in what it is, I just want to know it's a good investment'.
"First and foremost, good collectors are looking to build a collection that is coherent and has some meaning to them, and speaks to the culture. If over a period of time, the work turns out to be a great investment, then that's a happy bonus.
"The reason people buy art is because they want to fall in love with it.''
