profiles

Investors have always turned to art as a safer bet during economic downturns. Now, it’s the turn of Northern School artists to reap the benefits.

The Meeting by John Thompson (c) Clark Art Ltd

"There’s a lot of interest in the market and there’s really no knowing where it’s going to stop,” said William Gregory of Manchester’s Capes Dunn auction house, which has been selling regional art since 1826.

"People are looking for safe havens for their money. There are no guarantees, but the Northern School artists have really taken off in the past five years, and investors get the joy of ownership.

"There are also people out there, who do buy for status and the power of owning pictures. We get enquiries from all over the world," he said.

Lowry effect

It was the sale of Lowry’s 'Going To The Match' for £1.9 million in 1999 that first aroused the interest of serious investors, who realised that, despite the critics’ ambivalence, there was money to be made in industrial landscapes and flat-capped portraiture.

LS Lowry's Industrial Landscape

The challenge was on to find the next great master who could capture the spirit of mills, factories and working class life from the 1920s to 1960s - the essence of Northern Art.

"Artists like Helen Bradley, Harold Riley and Will Turner are now very sought after by collectors. Helen Bradley can go for more than £30,000.

"But less well-known ones like Theodore Major and Roger Hampson have also moved on up the value ratings in the wake of Lowry, as has Liam Spencer, who although only in his 40s can still be classed as Northern School," explained Gregory.

Investment

Oldham-born John Thompson, an 84-year-old former furniture store manager is in a similar league and has sold almost 900 pictures in the past two years, seeing his average sale price jump from £2,000 to £12,000.

His exhibitions are sell-outs. His work’s been auctioned at Christie’s and Sotheby’s and together with Damien Hirst he’s just donated a sketch to the Five Stars Scanner Appeal at The New Manchester Children’s Hospital.

Oldham artist John Thompson

“I’m fantastically lucky because, aside from the money, I enjoy drawing and I think I capture things that other people can see too, but can never quite put their finger on what it is,” said Thompson, whose financial success has allowed him to move from a terraced house to his dream bungalow with Shirley, his wife of 57 years.

Thompson’s ‘Group’ series of pictures depicting huddles or lines of working-class men has struck a chord and people travel from all over the UK to meet him at his agent's gallery in Hale.

“I’ve had people come up to me, who’ve taken all their ISAs out so they can buy a picture. They must think it’s a good investment. I don’t think of my drawings like that, otherwise I’d hang onto them all.

"The pleasure is in knowing people want them and what it is about them that makes them like my pictures so much.”

Heritage

Thompson's agent Bill Clark set up Clark Art ten years ago, turning a hobby into a business.

Albert Square by Liam Spencer

"I’d always invested in art. I’ve never trusted pensions or bothered with property portfolios. Art’s a far more pleasurable way of enjoying your savings and it’s exciting to come across somebody with John Thompson’s talent,” said Clark.

"We are seriously busy. The stock market is rubbish, house prices are falling and people with money are struggling to find something safe.

"I’ve got over 20 serious clients who just want me to invest in Northern art for them as an alternative to investment portfolios. There’s a strong following up here for nostalgic reasons and then there are plenty of displaced northerners down south and abroad who want a piece of their heritage on their wall and the warm feeling that it’s very likely to go up in value.

"If I was to offer a tip for the future, it would be buy Roger Hampson. He’s definitely one to watch," added Clark.