For Sale: Original oil painting - Glorious America's Cup 1980 - Franco Costa

[danielhalasz]

Hi everyone,

In 1980 the artist Franco Costa was the official artist of America’s Cup. He painted an iconic artwork of the race that to this day is sold all over the world as lithographs.

I own the original acrylic oil painting. My father, who was a personal friend of Franco Costa, bought it from him in the mid-80s, and my father gave it to me a few years ago.

I am looking to part ways with the painting, and wanted to reach out to this forum first, as I think the painting should belong to a sailing enthusiast.

Asking price: $25.000

Kindest,
Daniel

[Uncle Bob]

Originally Posted by danielhalasz

Hi everyone,

In 1980 the artist Franco Costa was the official artist of America’s Cup. He painted an iconic artwork of the race that to this day is sold all over the world as lithographs.

I own the original acrylic oil painting. My father, who was a personal friend of Franco Costa, bought it from him in the mid-80s, and my father gave it to me a few years ago.

I am looking to part ways with the painting, and wanted to reach out to this forum first, as I think the painting should belong to a sailing enthusiast.

Asking price: $25.000

Kindest,
Daniel

Lets see, first post and advertising a 25 grand painting, that daddy gave you, Daniel oh Daniel, why do I smell a con???

[OldManMirage]

Doesn't need to be a con, although a quick Google shows that Mr. Costa's artwork has never commanded such prices. Best I could find was around 8K. He was apparently quite prolific as there are lots of pieces out there. Not my cup of tea, but hey, to each his own.

[carlosproa]

This is probably not the best forum to advertise this. You should contact an art broker and probably get more for the paint if indeed is worth this amount.

[StuM]

Originally Posted by Uncle Bob

Lets see, first post and advertising a 25 grand painting, that daddy gave you, Daniel oh Daniel, why do I smell a con???

This!

[danielhalasz]

Originally Posted by Uncle Bob

Lets see, first post and advertising a 25 grand painting, that daddy gave you, Daniel oh Daniel, why do I smell a con???

Ha ha, I've never been called a conman before. Well, I'm for real and so is the painting. Help me sell it and I'll give you 10%

[StuM]

Hmmm, Posted May 20, 2019 on SA

Hi everyone,

My name is Daniel and this is a long shot attempt to see if anyone has some advice for me as I'm not really part of any sailing community.

In 1980 the artist Franco Costa was the official artist of America’s Cup. He painted an iconic artwork of the race that to this day is sold all over the world as lithographs (see attached image).

My father bought the original oil painting from Franco Costa back in 1980, and now it hangs on one of the walls in my home.

I am looking to part ways with the painting, but before I contact an art dealer or auction house, I wanted to reach out to this forum first, as I think the painting should belong to a sailing enthusiast.

Does anyone have any suggestions on how I go about selling the painting to the right person? Do you know of anyone who'd be interested in having it?

I hold the painting very dear. I’d like it’s new home to be the right one. Hope you can help me out.

and later in the same thread:

Thank you all so much for your replies and advice! I've reached out to Sothebys, Bonhams and NYYC. I'm also speaking directly to Franco's family who are helping me put a value on the painting.

Then a day or so later:

Again, I'd like to thank you all for your interest and great advice. I can't remember last time I was so excited!
I'm kind of in touch with Bill Koch. I wrote to his work email and he (or someone on his staff) answered, asking how much I want for the painting. I still don't know!! Although I've contacted various art dealers and auction houses, nobody can give me a number.
I'm in contact with ITMA who said they might be able to put me in touch with potential buyers. I've emailed with Dennis Conner, Ernesto Bertarelli and NYYC who might be interested. I've emailed lots of other people in the sailing and art community whom I don't. Most of them say I have an iconic painting (at least in the sailing world) but can't put a figure on it.
To be continued...

Looks like no one wants to buy it

[MicHughV]

As a painting it leaves something to be desired, as it is, at best, some triangular shapes on a canvas. Nobody can tell what boats they are, etc, etc.

I'm pretty sure the average sailor wouldn't want it. For one thing, it won't fit on a boat, and the price is way out of line for what most sailors would pay for anything to "decorate" their boat or even house.

'jes sayin'.

[Knotical]

Originally Posted by MicHughV

As a painting it leaves something to be desired, as it is, at best, some triangular shapes on a canvas. Nobody can tell what boats they are, etc, etc.

I'm pretty sure the average sailor wouldn't want it. For one thing, it won't fit on a boat, and the price is way out of line for what most sailors would pay for anything to "decorate" their boat or even house.

'jes sayin'.

Agree, there’s no such thing as a rich sailor.

Personally, I would buy a fixer-upper painting and put in the work to make it look-worthy. 😜

[Manateeman]

This very much appears to be an original painting. The provenance would need to be examined but let’s just say the statements of the original poster are true.
It is relatively easy to find the range of values for prints and serigraphs done by this artist. Some of these were signed and or numbered. It’s time consuming to do a thorough search of sales and sold prices are sometimes protected. In a quick look, $2000 was the highest sold price I found.
But this is an original, and it’s far more difficult because the number of original works sold is very small...so small, I could not find a definitive example.
In general, original works Not reproduced, are worth far more than prints.
Auction results are only one way to estimate the value but I cannot find past auction results for his original works.
Art is worth what someone is willing to pay and the owner can set any value they wish upon any piece irregardless of the opinion of experts or others.
I only collect original art.
I only purchase through major auction houses.
I’m fairly certain of the authenticity.
If anyone is seriously considering a substantial investment in any antique or art work, I strongly suggest you consult someone with expertise in the field.
Otherwise invest in the initial public offering of the pizza bazooka technology by my manatee crew who accept pizza or beer gift cards.
Happy trails
Captain Mark

[carlosproa]

Originally Posted by StuM

Hmmm, Posted May 20, 2019 on SA
and later in the same thread:
Then a day or so later:



Looks like no one wants to buy it

Maybe go to Vegas and talk to Rick from Pawn Stars they will probably buy it

[MicHughV]

Interesting point of view.

I have dabbled with art work for the past 15 years or so.
On occasion, I have had some of my pieces in local art auctions, which don't amount to much, so mostly display in area galleries.

It's a tough business to break into. Galleries typical have only a few "favorite" artist, usually friends of friends, etc and trying to break into that mix requires a serious investment of time and patience.

Even if your piece is selected for a local art gallery, they charge an arm and a leg for "commission", usually somewhere around 50%.

The way I figure my art $$ is to add up the hard costs...paints, canvas, frame, etc, and then try to estimate the time I spent on it. This gives me a " target' price, which I will compare to what other similar art work is selling for, then I also have to allow for gallery commission. Galleries aren't interested in making a handful of commission dollars..they want the big coin...so pricing a piece is a mixed bag.

It's a fine line, if you ask too much, it won't sell....if you ask too little....you make nothing.
Galleries are usually quite good at letting you know what a piece of art would sell for.

Bottom line, there is little $$ in it. I think I worked out, I make about $5/hr....

On the other hand, if you are a known entity...movie star, etc, you could scratch a line over a piece of paper, sign it, and somebody will pay $1,000's for it.

My old girlfriend used to keep the conch feet from conch I harvested, paint some tropical scene on them, drill a small hole and fit cheap earring fittings on the end.
They would sell like hotcakes, and she couldn't make enuff of them.

Which goes to show, you need to know your market.

To hit the big time, you've got to show in big cities...New York, Miami, etc...showing in some bubba town simply won't cut it.

[danielhalasz]

Originally Posted by Manateeman

This very much appears to be an original painting. The provenance would need to be examined but let’s just say the statements of the original poster are true.
It is relatively easy to find the range of values for prints and serigraphs done by this artist. Some of these were signed and or numbered. It’s time consuming to do a thorough search of sales and sold prices are sometimes protected. In a quick look, $2000 was the highest sold price I found.
But this is an original, and it’s far more difficult because the number of original works sold is very small...so small, I could not find a definitive example.
In general, original works Not reproduced, are worth far more than prints.
Auction results are only one way to estimate the value but I cannot find past auction results for his original works.
Art is worth what someone is willing to pay and the owner can set any value they wish upon any piece irregardless of the opinion of experts or others.
I only collect original art.
I only purchase through major auction houses.
I’m fairly certain of the authenticity.
If anyone is seriously considering a substantial investment in any antique or art work, I strongly suggest you consult someone with expertise in the field.
Otherwise invest in the initial public offering of the pizza bazooka technology by my manatee crew who accept pizza or beer gift cards.
Happy trails
Captain Mark

Dear Captain Mark,
Thanks for your reply. Appreciate it!
I tried to sell the painting a few years ago without success. I was in touch with Dennis Connor whose boat is featured in the painting, as well as Bill Koch who collects a lot of maritime art. However, they thought I asked too much for it at the time and declined. The pricetag now, I got from Franco Costa's son, who said 25k is a realistic asking price. But it's tricky, because no one really deals with Franco Costa's art anymore so the auction houses and art dealers don't know how to help me. That's why I'm trying to sell it privately.
Anywho, thanks again for sharing your experiences.
Daniel

[Manateeman]

I have some good contacts in Europe in the art world and they were gracious with their time and have found three examples of auction values for oil on canvas works. Two are houses but one is a sail boat.
The first , a house, is a fine example of his style and an attractive painting.
The sale was by Nykopings Auktionsverk
Oil on canvas. Signed and dated. No details.
It sold for 668 euros.
The second, a house, was sold by Lysekils auctions.
No further information but it was oil on canvas.
It sold for 208 euros
The third is of a sailboat. Not in the more modern style of his America Cup works.
Signed but no information on date. Looks like an earlier work.
Interestingly signed on the verso...back of the painting.
Sold by Bukowskis.
Sold for 4,000 SEK or about $ 377.
The life of this artist is well documented. Painting was not his only skill. He was very influenced by Matisse and Picasso who he knew personally. He sold a great number of works on paper usually signed, numbered and dated. They are available at very reasonable costs. His art is accessible. I doubt forgeries exist as its easy to establish authenticity.
Again, value is subjective. Just because something is rare, this alone does not mean it has a high value. Being common does not mean it has low value.
I don’t collect this style nor time period, so you might want to contact collectors and auction house experts. Any College of Art can also assist you.
The first oil painting sold by Nykopings is a very nice work and sold within the price range I would expect for similar works. Good luck with your research.
Mark and the manatee crew.

[carlosproa]

You could contact one of the many maritime museums, donate it and take a tax write off