Wet paint

What is wet paint?

Wet paint means fresh works only a year or two old, usually by young artists under forty-five. What is characteristic is that they disappear from under the artist's hands straight into auctions, without having gone through the market's usual route. The name captures beautifully the fact that the paint on the canvas has barely dried.

How does it work on the market?

A fresh work appears at auction immediately after being made, enthusiasm flares up around a young name and can drive the price up at rocket speed. But it can fall just as fast once attention fades. This is a floor, then, where prices move sharply and unpredictably.

Why does it matter to a collector or investor?

Because wet paint is treacherous precisely in its allure: the promise of quick appreciation tempts, but the risk here is higher than anywhere else on the market. Anyone entering it should know they are backing an artist whose place in the history of art is still being born. For someone who wants to collect calmly, this is a floor to approach with caution.

Can you give an example?

Imagine a young painter people suddenly begin talking about; their paintings, barely a year old, appear at auction and climb to multiples of the original price. Within a few seasons, though, interest cools and prices fall as sharply as they rose. That bitter scenario is exactly what is typical of wet paint.

What should you watch out for?

The main pitfall is that the fastest rise and the fastest fall go hand in hand here. Today's star may be forgotten in two years. What is missing is the testing by time that established names offer. A cautious collector therefore enters this floor with deliberation, and only with the portion of their money they can afford to gamble.

— Anna Pulkertová, founder of Art Part Club