Gary Kremens Landscape Painting

Jul 30, 2022. 16:40 UTC
Gary Kremens Landscape Painting
Goodwill Ecommerce
United States of America

Category
Paintings

Acquired from
Other

For sale
Maybe
Description

Unframed large oil on canvas. Sold on 1st dibs (see receipt) then donated.

Dimensions

5 foot high x 4 foot wide

Provenance

We have owners name who bought it from 1st dibs (receipt copy shown, redacted here) was donated to us recently. Here is link to original listing: https://www.1stdibs.com/en-gb/art/paintings/landscape-paintings/gary-kremen-large-5-foot-landscape-oil-painting-on-canvas-gary-kremen-frameless-display/id-a_7415302/

Answered within about 21 hours
Jul 31, 13:33 UTC
By Delia

Fair Market Value

$3,000 - $4,000 USD

Suggested Asking Price

$5,000 USD
What does this mean?

Good morning,

Thank you for contacting Mearto with your appraisal inquiry.
Items appraised by Mearto are appraised at a fair-market level, for auction purposes; Fair-Market Values are usually significantly lower than Retail Values, which is what things on 1stDibs are listed at. Also, an asking price does not necessarily mean the value that something was sold at.
Only one work (a 30 by 40 inch painting of a whale) by the artist has been offered at public auction - once in 2014, then again, at another auction house, in 2015. Neither auction house was able to find a buyer for it, with an estimate at $700-1,000 and then $600-900, respectively. (https://www.askart.com/auction_records/Gary_Kremen/11218855/Gary_Kremen.aspx)
When there are a dearth of auction comparables, Mearto will look to retail prices and calculate down, based on the industry multiplier for fair-market vs retail prices. Going by the value quoted on1stDibs, and based on the standard industry multiplier, that would put a fair-market value for this work at $3,000-4,000.
Based on the photos and information provided, and subject to examination, this is:

Gary Kremen (American, 1949-2001)
Untitled landscape
oil on canvas, unframed
signed lower right
5 foot high x 4 foot wide
CONDITION: appears to be in good condition; value assumes no splits, inpainting, repairs or relining
PROVENANCE: acquired on 1stDibs, then donated
$3,000-4,000*
*represents a fair-market value for auction purposes; retail or asking price may vary.

Please let us know if you have additional items to appraise, and thank you again for using Mearto

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