Art Investment Tips
Most amateur art investors don't consider the great amount of time and effort that goes into making a good buy. Many factors must be considered, however, in order to make a good art investment. Those considerations are both material and non tangible, business decisions.
One of the first considerations into making good art investments is obviously learning about the artist. An artist's professional history, including the degrees they've received and school it was earned from can be an important factor. The higher the degree, such as a degree in Master of Fine Arts, the more skilled the artist is assumed to be. Also, being taught by a famous and/or masterful teacher can reflect highly on the artist.
Beyond the name and reputation of the artist, an art investor should know the person or business they are buying from. Stolen and fake art investments aren't simply fodder for espionage movies. Frauds and misrepresentations abound in the art dealing world. That is why it's important to ask questions. Inquiring whether an art investment is an original or a reprint is a good place to start. Also, knowing how a piece of art is authenticated is very important.
Also, becoming familiar with the market in a certain area, medium or even in the place it's sold can give an art investor a leg up. Going to an exhibit before-hand, asking the artist questions and watching the sales record of that artist over time can be quite beneficial. Getting to know industry insiders, like dealers, auctioneers, exhibit owners and other art world regulars is also helpful.
Although researching an artist, the seller's history and the market are all good ideas, simply taking these things at face value sometimes isn't. If an art investment is made in a piece that has only regional appeal, it might be difficult to resell. Taking all aspects of an artwork into consideration is key in light of this fact.
The type of work that an art investor purchases can also determine the price. For instance, most dealers would agree that trying to purchase a Monet or a piece by another notable artist isn't the best thing for first-timers. Original paintings and sculptures are much too pricey an art investment for people with little to invest. Starting with art such as prints, posters, photography and lithographs would be much smarter investments.
In recent years, the profit seen on art investments made on big named artists has decreased. Yet, some other previously ignored markets, like pre 1950 American artwork, has begun to gain in popularity. This fact makes it easier to see why name recognition alone isn't a good reason to invest in a piece of art.
There are a lot of factors that make a good art investment. Those factors include knowing the artist, auctioneer or exhibition and market that you are buying from. A few tips taken heed on the front end can save an art investor a lot of money and grief in the future.
