Art is a popular but slightly intimidating investment opportunity. Some think it is reserved for people with astronomical budgets and an army of art consultants behind them - but this is not the case. Art is becoming a much more accessible market, and many people are looking for a way in.
Investing in art is not difficult, but there are some key tips to keep in mind when looking for your next piece!
Before taking the plunge and purchasing any piece of art, sit down and do some research first. Find out what you like and what you are drawn to so you can make an informed decision before starting your investment journey.
Once you have outlined a few artists you particularly like, research deeper into them. Look into:
There is no such thing as being too informed when it comes to art. Consult galleries and social media, and open yourself up to some new art styles you might not have previously considered.
If you are new to the world of art investing, you do not have to spend millions on your first piece. Setting a budget for yourself will help you make the most of your investment and focus on the artists and works within your price range.
When deciding on a budget, you may want to consider the type of art that you are looking for. You may be considering:
Investing in art does not require a giant budget, but do not fall into the trap of buying prints or reproductions because they are cheaper. Original paintings are expensive, but for good reason - they are investments after all!
Your budget also has to account for some hidden costs that you may not be anticipating, so keep reading to find out what to be on the lookout for!
Art is a good investment, but like any other investment, there are risks associated with it. What is on trend today may not be on-trend tomorrow or in ten years when you plan to sell.
However, one of the benefits of art is that it is not tied to the performance of the stock market. If stocks are underperforming, the art market may not fall, and high-value collectables can continue to accrue value.
It is still important to be aware that art may sell for more when the stock market is high, as investors have more disposable income. For this reason, there is still an indirect tie to be conscious of.
When browsing for art investment pieces, the price listed on the website is probably not the price that you will end up paying. This is because there are several hidden costs to be aware of when buying art, such as:
The last tip for investing in art is consulting a professional advisor. It can be a great start for those looking to begin their art investment journey. Conducting your own research is advised, but consultants can provide an extra layer of understanding and offer invaluable advice that will help you get your money’s worth out of your investments.
Breaking into the art investing world can be intimidating, but an art consultant can break down any barriers. They often have contacts at reputable auction houses and can source unique art pieces that you may not have been able to find alone.
Advisors will also be able to provide more information about the world of fakes. Unfortunately, the art world is saturated with fake pieces of work, and many people have spent millions on supposed originals that have later been revealed to be elaborate forgeries. Although this is fairly rare, an advisor will lend an extra layer of protection and expertise to your investing journey.
Art is a great investment opportunity that provides lucrative returns. As a beginner, these five essential tips can help you get the most from your budget and help you find the best pieces for your taste.
For support on your art investing journey, contact Florence Bell Gallery. Our expert art consultants have over thirty years of combined experience, and we have investment opportunities for every budget.
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