Eugene Garin painting
Posted By whatsitworth on January 26, 2010
Dear What’s It Worth,
I would like an appraisal on a painting by Eugene Garin.
Description:
Title: Tranquillity Bay
Size: 24″ X 30″ without frame
Painting is framed
Oil on Canvas
Commissioned by Artist in 1987
Purchased through Simic Galleries in Carmel.
Dear Joe,
“Appraisal” is an often misused or misunderstood word. In general, an appraisal is a written report giving an opinion of value of a piece of property in a certain point in time. An appraiser must adhere to a strict code of ethics, comply with standard practices and must inspect, research and compare items.
Appraisals can have different values depending on the purpose of the appraisal. For instance, you might need a Fair Market Appraisal for determining estate taxes; you might need a Non-cash Charitable Contribution Appraisal if you’re donating property to a museum or school; you might need an Equitable Distribution Appraisal to divide an estate fairly between heirs; you might need a Liquidation Appraisal for a bankruptcy; you might need a Replacement Value Appraisal to determine insurance coverage.
All of these are appraisals and the dollar value determined in each case would not necessarily be the same. What I can do in this column is give you an informed approximation of the value of your item were it to come up on the auction market. I rely on information provided by readers to make these evaluations.
Eugene Garin was born in Odessa in what is now the Ukraine in 1922. He trained as a painter, served in WWII and was captured by Germans. After the war he emigrated to Argentina and then moved to California sometime around 1960.
Garin is well known for his seascapes and for the translucent quality he brings to waves. His work can be found in the Russian Consulate in San Francisco as well as in the corporate headquarters of a number of successful shipping companies. Paintings by him are retailed in galleries from Carmel to Hollywood with asking prices in the $10,000 to $30,000 range.
I don’t know how much clients are willing to pay for work in a gallery. In addition to the cost of the painting, a client is buying the expertise and experience of the gallery as well as the assurance of authenticity.
Less than a dozen of his paintings have come up for sale on the secondary (auction) market. Prices for these paintings have ranged from $1200 to $5500 with higher prices being paid for images with boats being tossed at sea.
Were your beach scape of Tranquility Bay come up at auction I’d give it a pre-sale estimate of $1000-1400.
Regards,
Jane Alexiadis, ISA
Michaan’s Auctions
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