Unlocking the Value of Art: Insights from Rob Cowley on His St. Andrews, NB Art Valuation Event

In a recent episode of Southwest Magazine on CHCO-TV, host Vicki Hogarth sat down with Rob Cowley, President of Cowley Abbott, to delve into the often mysterious world of art valuation and explore trends in the Canadian art market. Cowley, who was recently on a five-stop East Coast Art Valuation Tour including a stop in St. Andrews, offered valuable insights into what determines the worth of artworks, making the subject more accessible to both seasoned collectors and those new to the art scene.

Cowley shared his "Ten Commandments of Art Valuation," including key factors such as the artist’s reputation, subject matter, period, and condition. He emphasized the importance of the artist’s renown, illustrating the stark difference between the two brothers in the art world. "An artwork by Tom Thompson, one of Canada’s most celebrated painters, recently sold for about $2.4 million. In contrast, a painting by his brother, George Thompson, would probably sell for about $1,000," Cowley explained. This comparison underscores the influence of an artist's legacy on a piece's market value.

The subject matter and period of a work also play significant roles. "A landscape by Emily Carr is going to fetch more at auction than a floral still life," Cowley noted, pointing out that different phases in an artist’s career also affect pricing. "A work from the early '50s by Jean-Paul Riopelle can sell for millions, whereas one from 20 years later might go for $30,000 or $40,000." A piece’s historical context and provenance can further increase its value, as demonstrated by an Emily Carr painting that once belonged to a member of the Group of Seven, which sold for hundreds of thousands of dollars.

Throughout the interview, Cowley shared fascinating anecdotes from his valuation tours. A notable highlight was a painting by A.Y. Jackson, depicting a Newfoundland scene, valued between $30,000 and $50,000. Another striking story involved a David Bowie painting discovered in a Northern Ontario landfill, which sold for approximately $110,000, showcasing the potential for hidden treasures to emerge in the art world.

Cowley also discussed how cultural trends and media can impact the value of artworks. He used the example of Maud Lewis, whose work has seen a substantial rise in price following the 2016 release of a film about her life called Maudie starring Ethan Hawke. "Paintings that used to sell for $3,000 to $10,000 now regularly exceed $40,000 or $50,000. We’ve sold works by her for $90,000 since the movie was released," Cowley remarked, showing how renewed interest can drive demand and increase the value of an artist’s work.

For those unable to attend Cowley's in-person valuation events, he highlighted that his services are available remotely and free of charge, allowing individuals to submit images of their artworks for professional assessment. "There's no cost or obligation attached to it. It’s fully confidential," he assured.

As the interview concluded, Cowley offered advice to aspiring art collectors, emphasizing the importance of staying informed about the auction market. He encouraged new collectors to attend auction previews, gallery openings, and exhibitions to develop their tastes and knowledge. Above all, he stressed the importance of collecting what resonates personally, ensuring both emotional satisfaction and potential long-term value.