The Groove 233 - Buy When is Quiet, Brag When Is Not
Welcome to the 233rd issue of The Groove.
I am Maria Brito, an art advisor, curator, and author based in New York City.
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BUY WHEN IS QUIET, BRAG WHEN IS NOT
Henri Rousseau’s most iconic painting, The Dream, was bought by Sidney Janis in 1934 in the middle of the Great Depression. He sold it to Nelson Rockefeller in 1954 for $100,000, who then donated it to the Museum of Modern Art in New York.
Every collector wants to buy with perfect timing. But here’s the uncomfortable truth: by the time something feels “safe,” you’re already too late.
The real edge in collecting isn’t hype. It’s pattern recognition. And every pattern says the same thing: the best art collections are built during moments of fear, contraction, or total chaos.
Yes, just like right now.
Let’s look at why this moment is actually the ideal time to begin collecting seriously or take your collection to the next level:
Bets in the Rubble of Early Modernism
In the mid-1900s, Paris offered a fledgling art scene amid war and economic uncertainty. That’s where Gertrude and her brother Leo Stein made some of the most prescient acquisitions in modern art.
In 1905, they bought Matisse’s Woman with a Hat for merely 500 francs (~$100 USD) after weeks of deliberation. Around the same time, Leo scooped up Picasso’s Young Girl with a Flower Basket for 150 francs, a meager investment that, decades later, would join David Rockefeller’s collection and later be sold for $115 million in 2017 to the Nahmad family.
They even funded Picasso’s now-famous Portrait of Gertrude Stein in 1905–06, paying at a point when the artist was mostly unknown. No hype. No big auction houses. Just vision and conviction.
The Great Depression
Sidney Janis, initially a shirt magnate, began purchasing in the early 1930s while the United States was grappling with the Great Depression. In 1932, he paid $70 directly to Mondrian for a small abstract painting during a Paris studio visit.
in January 1934, he also purchased Henri Rousseau’s iconic painting The Dream via Knoedler Gallery. Twenty years later he sold it to Nelson Rockefeller for $100,000, who then donated it to the Museum of Modern Art in New York. Adjusted for inflation this would be $1.18 million today, but we know that isn’t the true value of this painting. In 2023, Les Flamants by Rousseau, which is a lot smaller in size and significance, sold at Christie’s for $43.5 Million.
By the mid 1930s, Janis already owned several Picassos, including Glass, Guitar and Bottle (1912), Head of a Man (1913), and Painter and Model (1928). In 1967, Janis donated 103 works from his private collection to the Museum of Modern Art, an extraordinary gift that included key pieces by Picasso, Mondrian, Paul Klee, and Umberto Boccioni.
At the time, the donation was valued at $2 million, which means that Janis had not even spent half of that amount buying those works. That figure today would exceed $250 million, and that’s without accounting for the exponential rise in blue-chip art values over the last 35 years. The true market value is far, far larger.
Janis made seismic purchases when others hesitated. He did it with conviction, not hype.
Why Busts Breed Opportunities and What Smart Buying Looks Like
1. Value > Hype
In downturns, pricing reflects substance. Think of owning a Joan Mitchell that nobody else noticed yet versus losing a bidding war on the latest Instagram darling.
2. Access is easier
Dealers are open to conversations, not transactions. Galleries aren’t glossing over flaws; they’re looking for partners to support the long game.
3. Curation over competition
Buying during slowdowns isn’t chasing what everyone wants; it’s backing cultural foresight.
4. Institutional visibility matters
Acquiring artists who are being re-contextualized by museums or scholars during slow periods sets you up for legacy.
This Isn’t Speculation; It’s Stewardship
I’m not advocating reckless buys. I’m talking about strategic stewardship:
• Identify artists with rising institutional interest and context
• Build relationships with gallerists before the spotlight hits
• Stay nimble, patient, and taste-first
• Find off-market opportunities with advisors and collectors
Because as history proves, collecting during the bust gives you access to the artists shaping tomorrow’s cultural narrative.
Recalibrate with Confidence