Dear Lee,

Technology is changing the world. I just went to a meeting, a conversation between William M. Griswold, the new director of the Cleveland Museum of Art, and Philippe de Montebello, the retired director of the Metropolitan Museum of Art. They discussed how collectors started museums about 300 years ago. Some became “aggregating” museums with examples of great pieces from every country. Others focused on one specialty, like a glass museum or the Baseball Hall of Fame. It’s important to see how a piece of art connects to both the past and present.

Today copies of great art, past and present, are for sale for low prices in gift stores. And many millennials are so used to seeing pictures of works of art on cell phones or as part of home decorating displays, they don’t bother to visit the real thing. It is important to see the original art. Museums are working towards enticing new visitors by incorporating touch screens and apps on phones that take you through the exhibitions. Somehow history and society must be translated from a modern point of view and considered in context, facts about the artists and their techniques must be taught, and understanding of human desires and fears as well as hidden meanings, why tastes change, and other subtleties must be discussed. You must learn to “see” to understand a painting. I think we are ahead of them. In our newsletter, we already give a bit of history, explain the design, and, of course, value.

There is another big change in buying by both museums and average collectors. The best of the best in every type of collectible sells quickly for high prices. Directors agree that the masterpieces of any type of art are now selling for astoundingly high prices. A Basquiat (1960–1988) painting sold recently for $110.5 million, a record for any U.S. artist. The highest priced bank was a c.1884 “Coasting” bank by J. & E. Stevens Co. that sold for $266,500 in 2013.

Our readers, average collectors, know these problems. Most start early and look for bargains, the good stuff missed by other less knowledgeable collectors. Knowledge is key. With more money later in life, they spend more, get better items, and brag about the early pieces that now would cost more. Museums can’t afford many expensive “stars,” so they must hope the buyer will eventually donate the painting to the museum. And we hope the lucky bank collector will eventually have a downsizing sale so another collector will enjoy the prize or maybe, someday, give it to a specialized museum.

P.S. Our FREE annual index to Kovels on Antiques and Collectibles Vol. 43, September 2016–August 2017, is on our website. Download it at Kovels.com. Go to “Kovels Premium” tab on the menu bar of the homepage, then on “Newsletter Annual Index” then Volume 43. Trouble? Email Index@KovelsOnline.com and we’ll email a link to you. Any subscriber can mail a long self-addressed stamped envelope to Kovels Index, P.O. Box 22192, Beachwood, OH 44122 and we will mail you the index.