Uncommon Art Investing
Everyone is aware of the standard mediums associated with art investing. Paintings and sketches are common categories and command the majority of the market. However, there are other realms of possibilities and options to consider when art investing. Suppose you were to rule out the ordinary criteria and seek out other possibilities for art investing. What you discovered may surprise you.
One particular medium that is common, but often discounted for art investing is photography. Though photography is not often included in the same fine art categories as Picasso or Monet, there is more than enough evidence that photographs are of value to a vast group of people. To date, Andreas Gursky is the photographer of the most expensive photograph on record. "99 Cent II Diptychon", a photograph that is just six years old, was sold for just over $3.3 million in February of this year.
Photography is often underrated by those in the art investing world because it is easy to assume that anyone can take a picture. With the right camera, lighting, and subject, it seems like anyone could have created a $3 million painting. However, few seem to understand that a great photographer will take a mediocre camera, decent light and seemingly average subjects and create a Pulitzer-worthy shot. Your art investing portfolio could benefit from a few well chosen photographs.
Another medium often underappreciated with regard to art investing is the sculpture. This is a very broad category that could prove beneficial to your portfolio. If you are truly interested in diversity in your art investing, a sculpture could be a wise choice. Like photography, sculpture is not the first think to come to mind when contemplating art investing. However, there is evidence of its value.
An early twentieth century creation by Constantin Brancusi's called Bird in Space recently commanded an astonishing $24 million dollars. The sale awarded Brancusi's Bird the title of the most expensive sculpture on record to date. It is clear that this sculpture was taken seriously by someone in the art investing community. It is currently on display at the Guggenheim. Before Bird in Space received the honor, the most expensive sculpture was Antonio Canova's The Three Graces which was sold in 1990 for $11.5 million.
Antiques are category that is often excluded from the umbrella of art investing. However, a once household item such as a teapot that is now worth its weight in gold can only be described as art. If you consider it logically, art is something that is displayed and revered for its uniqueness and beauty. That is the very reason people collect antiques. These items may have common at one time, but throughout the years, their counterparts have been destroyed by time and people, until few remain. These rare antiques are often the focus of art investing just as a priceless painting may be.
It is difficult to pinpoint the approximate price range of most antique items because there is such a broad range of them. Any ordinary item can be antique with enough time, which is precisely what makes it extraordinary. To date, however, the most expensive piece of American furniture sold was a Chippendale antique secretary that was built around 1760, and with only about 6 others. This piece sold for $12.1 million. A figure like that may make you reconsider adding a few antiques to your art investing portfolio.
Whatever you may choose for your art investing portfolio, remind yourself as often as possible to think "outside the box". You hear from every expert in the business that diversity is the key to a healthy portfolio, so why not listen to them. The next time you're thinking about adding a painting to your art investing portfolio, stop by an auction house and browse the sculptures and antiques. You may be pleasantly surprised.
