Art is not only for art’s sake anymore. Art pieces as an investment have been around for ages but are no longer just an elitist subscription or a fanciful desire. There are a couple of things you need to look at before you buy a piece of art when you are considering it for the purpose of investment. As a beginner or having just been introduced to the “serious art” world, you might feel a little overwhelmed. But there’s no need for that. There are many simple ways to incorporate art as an investment. Moreover, they need not be just extravagant paintings from the 18th century times. They could be posters, wall hanging and more! Since we find art all over, in this post, we have detailed critical insights to help you make a decision and let you know where you start off. Happy art investing to you!
The best thing about investing in art is that it is a non-liquid form. We are looking at small pieces that you can sell in a couple of years or even in a few months at an increased charge. The first and most important factor that you need to consider is doing your homework. If you know you’re attending an art show, do some research on the artist. It helps always to see the art in the same reference from the artist’s perspective. Having such insight would enable you to know where to find your potential buyer (when you do, so that is).
Do remember that when you’re investing in art, there needs to be a certain degree of profitability. That is the primary distinguishing factor between being an art investor and an art collector. There is also what is called an art speculator. These are people who pick up pieces from an artist at the beginning of their career. The supposition is that the artist is going to go places and will be extremely recognized. More so, pieces initially bought will sell like hot cakes in 10 to 15 years into the artist’s career.
There is more to art investment than just a logical alternative to investing. It also has a heart. You can use instruments like the Mei Moses Fine Art Index to help evaluate what is the current trend in art. You can also use online journals and websites that compile information on the art world scene.
There’s divided opinion on whether to buy a painting, an installation or sculpture. While most art investors suggest that paintings are more likely to fetch you a great price over a sculpture, this need not be the case. It is up to you to decide, based on your research work is likely to add to your basket of investments.
When talking to people from art auction houses and dealers, keep in mind that they do tend to oversell at times. These people are great to gather a deeper understanding from, but it bodes you well to talk to many such people before taking your first big step. At times, dealers and auctioneers are going to overwhelm you by their suggestions. Take the time for yourself and be utterly confident about your purchase. Ask yourself how you feel about the painting, if the timing is good and if the price is right. These are variables that you need to be sure of before taking the plunge. After all, it is your resources and your effort. Make sure it counts for something worthwhile.
Once you have decided what pieces are worth it and are going ahead, ensure the papers of ownership are in order. You also need to add this piece to being part of your estate. Art pieces are insured; it’s important that you follow suit. Read up about how to protect your art piece well before hand. Also, ask about how it is going to be packaged and shipped/moved to your place.
From here, you need to do a good job of choosing the right place for its storage. If you plan to keep it out on display, the place should neither be too humid nor too sunny. Any harsh environment tends to age the coloring in a painting.
These are just a few suggestions when starting off. But buying art can be a daunting commitment. Our suggestion is that you start with a constrained budget and purchase a couple of theme-based posters or contemporary painting. You get an idea of how you might feel about making art an investment. Target.com have awesome pieces of art for even better pieces. You can use coupons for Target from ChameleonJohn.com to bring down prices and get free shipping too. Here is a chance for a great trial run before you take on the real deal.