Investing in Original Art
Why invest in original art as opposed to mass produced, less expensive reproductions? Not only is original art completely unique (even if the artist attempts to paint the same picture, it will be different from the original), it can be an important investment in addition to bringing years of joy and satisfaction.
What should one look for when choosing art? Decide on the purpose. Will this art hang in your home or office? Is it for you or a gift for someone special? Is the investment potential important to you?
When choosing art for your home, be aware of the surroundings where it will exist. Traditional art works well in homes with fine furnishings and antiques, but there has been a movement over the years to combine contemporary art with fine antiques. The tension created can enhance both the furniture and the art. Modern interiors usually fare well with modern art. Choose minimalist pieces with little colour variation for calm, quiet rooms or pieces bursting with colour to make a vibrant impact. A large attention-grabbing artwork commands its own space. Smaller paintings can be grouped together with care given to the overall aesthetic.
Bold, minimalist art often works well in an office setting. Consider your clientele. Your art should not be at odds with the image want to present.
No spare wall space...no problem! Serious collectors routinely rotate their artwork to keep their spaces fresh. You will be surprised how your pieces look new when they are hung differently. Make sure your precious collection is properly stored when not hanging on you wall.
Art also has the potential to increase in value over time. Although the chances of lucking in to the next Picasso before the rest of the world notices is akin to winning the lottery. Think of buying art like you would think about stocks. Level One listed artists are like blue chip stocks, you'll likely get slow steady growth. Most Level One artists are represented by established galleries who take a cut. It may be many years before your investment bridges the gap from wholesale to retail price.
Level Two and Three listed artists' works are less expensive and have more return potential, but also more risk.
Buying art from unlisted artists is like buying a penny stock. You may do very well if the artist becomes widely followed in the future. Keep in mind though, as it is with writing, and acting, there are thousands and thousands of artists and only a few will be remembered. Think of all the books in your local library or bookstore and then the proportionate share of all book sales by author J.K. Rowling with her series!
The best advice, though, is to buy quality art that you love. There is always a subjective element to art. My favourite author, points out that the most popular (or most valuable) works are not necessarily the best. Popularity itself can feed more popularity. Humans like to have their decisions validated. When you buy popular art or literature there is comfort in knowing that you are part of a group, that your decision to like this particular thing is okay.
So, buy what you love, move it, store it, bring it out again. Quality art will enhance your surroundings and positvely affect your life. Hey, some say that listening to classical music can actually make you smarter. Enjoying fine art is sure to have a similar effect!
