Episode 16 | Art Deals, Hidden Treasures, and Picking Wisdom with David Kane

In this episode of House of Folk Art, Matt Ledbetter sits down with antiques expert David Kane from Greensboro, North Carolina, to explore the rich and sometimes surprising world of folk art and antiques. Together, they dive into their experiences with rare art pieces, the ups and downs of the auction world, and what it takes to succeed in picking and dealing. From folk art to fine art, Matt and David share stories of unexpected finds, memorable sales, and the thrill of discovering hidden treasures. Through anecdotes and reflections, David sheds light on the challenges and excitement of tracking down sought-after pieces and navigating the fine line between art and authenticity. This episode offers an inside look at how the art world rewards keen observation, a bit of luck, and a genuine passion for preserving cultural history.

CHAPTERS

00:00 - 00:04:10 | Intro & Early Lessons in Folk Art Matt introduces

David Kane, recounting the early lessons he learned in folk art from his friend and mentor. Reflecting on one of his earliest moments of "tough love," Matt recalls, "David woke me up to the fact that people actually came to Mebane to make money. They didn't just come to buy and store it. That was the first time I realized, 'Oh, he's making money off us!'"

00:04:10 - 00:08:30 | Auction Adventures and Rare Finds

David shares tales from the auction world, where surprising sales and memorable finds reveal the true art of the pick. One story centers on Matt’s discovery of a simple piece of wood, later sold for hundreds more than its purchase price. "My dad threw a tree in the truck, and I thought he’d lost it—until it fetched $600 at auction," Matt recalls.

00:08:30 - 00:12:45 | Changing Trends in Collecting

They discuss how platforms like eBay changed the market. “eBay junked that auction up big time,” David explains, reflecting on the transformation from high-dollar items to a flood of more accessible, yet less valuable, collectibles.

00:12:45 - 00:14:30 | Folk Art and Learning Value

David shares how pieces of folk art, once overlooked, have become treasured by collectors, especially pieces from self-taught artists like the “basket holder” that Matt’s father sold. Matt notes, “It’s that hidden story behind it that makes it valuable—what it means to the people who created it, and the collectors who find it.”

00:14:30 - 00:17:45 | The Rise of Self-Taught Art

The discussion shifts to the folk art world’s increasing appreciation for outsider artists and self-taught creators, many of whom worked during the Great Depression. “All through the mountains, from North Carolina to Seneca, these artists developed their own techniques,” David says, explaining the value collectors place on authenticity over formal training.

00:17:45 - 00:21:00 | The Mysteries of Art Appraisal

The conversation turns to fine art and appraisal, with David recounting his journey to verify a de Kooning piece. “It got to the third level, but art has to go through five before it’s considered authentic,” he notes, hinting at the long process before any artwork gains value in the market. Matt adds, “I never want to be the auction house where something bought for $11,000 resells for $897,000.”

00:21:00 - 00:23:45 | Chasing Hidden Treasures

Matt and David reflect on how hidden pieces are often the most valuable, sharing stories of pieces discovered by accident. “There’s a thrill in finding something no one else knows about,” David says. Matt agrees, adding, “When 100 people want something, it makes it a little easier for you to want it yourself. That’s how collectors are made.”

00:23:45 - 00:27:20 | The Art of Picking vs. Retail

David and Matt discuss the difference between collectors and casual buyers, with David noting, “The true collectors go to places like Mebane to make money, not just to buy and keep. They’re looking for pieces that can tell a story.” Matt adds, “That’s why we chase after those one-of-a-kind finds that haven’t been passed around.”

00:27:20 - 00:30:00 | The Story of the Basquiat and Monet

The two recount Matt’s memorable Basquiat experience and another picker’s unexpected discovery of a Monet. Matt recalls, “It was an Indian Ink on paper, and we figured it was worth $1 million…But without the right authentication, no one was going to pay that. So we started it at $250,000.”

00:30:00 - End | Reflections on the Journey and Finding Hidden Art

Matt and David close with a look at the joy and mystery of the hunt, noting that some of the best pieces are still waiting to be found. “It’s always what you don’t buy that haunts you,” David says, to which Matt adds, “The art you don’t buy is the one you’ll remember. That’s what keeps us going in this business.”