Ensuring Authentic Art Investing
Art investing can by a difficult game, even for the most experienced buyer. Before you invest your life savings in a piece you think might go up in value, why not do a little leg work? For every success story that comes from art investing, there are a mass of failures. If you have the means for daredevil investing and get a rush out of potentially losing thousands or millions of dollars, then dive right in with both feet. For the rest of us, art investing will be much safer if you take a few steps to ensure quality and authenticity of your investments.
Many find that art investing is much safer if business is done with one or two dealers the investor knows a great deal about. As with any business, a simple background check with the better business bureau can tell you if the business has had any complaints against it. Next, you should get recommendations from others in the art investing business. Museums and art auction houses may be able to tell you those dealers that have been in the business for a while and have built a good reputation. When you're associated with good art dealers, they can make recommendations and help you find the art investing avenues that are right for your portfolio.
Once you've decided with whom you will conduct your art investing, it is also a good idea to research the artists whose work you may buy. While it may sound morbid, it is often true that many artists are more appreciated after they are deceased. This is the case with classics such as Monet, Van Gough, and Picasso, none of whom were as famous in their own lifetime as they are now. That is not to say that your art investing should exclude all currently living artists! Simply be wary of those you choose. An artist that is cutting-edge or a real "up-and-comer" today may be mass produced on every coffee mug and credit card tomorrow.
Once you have pinpointed your dealer and those artists you wish to include in your art investing portfolio, research the piece. You would never buy a house that wasn't inspected, or a car that you have not test driven. Why would you do any art investing without knowing a little about the work you're obtaining? Finding out about where the piece came from, how old it is, and the history behind it can benefit you in the long run. It is also a good idea to have it appraised by an impartial third party to make sure you're getting what you pay for.
Art investing usually requires a large amount of upfront capital. As with any large purchase, it will pay off to make sure that it has a paper trail behind it. Certificates of authenticity, written appraisals from known art experts and original sales receipts from previous owners will help ensure the legitimacy of the piece. These can also be a key selling point to help ensure a return on your investment. If someone is trying to sell you a painting whose original owner and all documentation were both mysteriously "lost in a fire", chances are you'll be skeptical. You should be, because your potential buyer will feel the same way.
Spotting a copy or a fake piece may often be difficult to the untrained eye, and can be imperative to your art investing portfolio. There are experts available that will help to make sure you are not getting cheated or scammed. These people have gone to school and studied artwork for years so that you don't have to. These experts will almost always come at a price, but for truly safe art investing, it will prove to be worth your while.
We would all like to think that anyone into art investing does so for a love of great art, but there are dishonest people that will do anything for money. By conducting a little of your own research and getting outside input, you can protect yourself from being cheated. Art investing is not something that should be taken lightly, so make sure that your money isn't going to waste by ensuring authenticity and accuracy any piece you buy into. You owe it to yourself and the art community to help eliminate fakes and those who market them.
