I often ask myself - is contemporary art a good investment?
In 2006, Christies sold $4.33 billion worth of art at auction (a 36% increase over the previous year) while Sothebys 2006 sales total stood at $3.66 billion. While Christies attributes its success to forgeing long term relationships with sellers, both Christies and Sothebys are benefiting from the growth in wealth creation globally. This is an article taken from the website Fine Art management
Collecting art - for pleasure and investment::
Collecting art as a Rand-hedged investment and for pleasure makes good economic sense. Contemporary South. African Art. Wildlife art. Porcelain and Glass
http://www.lifewithart.com/collecting_art.htmlHOME |
The Artful Investor::
New research calls art a smart investment, but skeptics point to high costs and high risk sold a combined $1 billion worth of contemporary art last fall.
http://www.businessweek.com/magazine/content/07_11/b4025099.htm?campaign_id=rss_magznHOME |
Owning an original artwork can give one status. No-one can deny the thrill of investing in your first original artwork and receiving admiring praise from friends and family alike as you sit around your dining room table and gaze at the wonderful portrait glimmering in the romantic candlelight.
Apart from the aesthetic beauty it adds, who knows what that painting you bought from a little -known artist in the 80s is worth today? Equally, there is also increasing interest in art as an investment class including how it behaves compared with financial assets, and what qualities in a work of art are likely to make an emerging artist stand the test of time. Of course, taste in art is personal - one mans meat is anothers poison, and how is one to know that the work you have purchased will stand that test.
As a test I have conducted a little research of my own on an artist who was extremely popular in the 70s - Sara Moon. Every second person ( certainly the students I knew) had a Sara Moon poster hanging in their digs. I was not a fan - I thought it was kitsch art with little value or appeal but I cannot deny that she was hugely popular. Though I was young then my instincts told me this was not Art.Some thirty years later, it seems my instincts were correct.
My search today revealed surprising results. First off, Sarah Moon turned out not be a female artist, but a publishing house under the name of Red Baron and then later, Verkerk/Scandecor, a poster and print house. When this house went up in flames most of the posters were destroyed. It seems that no -one has ever come up with an original work because of this and the general opinion is that any prints are only as valuable if they are framed and with the original reference number and date on the back. The opinion seems to be that you may get the value of the frame and not much more!
Design, Innovation & Licensing - Promising picture of Chinas art ::
Art collecting is a profitable investment in China: galleries, auction houses This zone mainly promotes art works reflecting contemporary realism
http://design.tdctrade.com/content.aspx?data=design_content_en&co00-01-01&w_oid=207&w_jid=HOME |
Aboriginal Art Investment - Aboriginal Art Online::
It is of course essential to have some good general background knowledge of Contemporary Aboriginal Art by Susan McCulloch (Allen and Unwin) and
http://www.aboriginalartonline.com/gallery/investment.phpHOME |
That said, if you are thinking of investing, you would be wise to invest in an oil painting, acrylic or maybe even a water-color or pastel. There is no doubt as to its originality in this case and it is bound to increase in value over time if it is well- looked after and behind glass if it a water-color.
As always, the question to ask yourself is not Is this painting a good investment but Do I like this painting or Do I want to look at this painting more than watch TV -or- Do I get a good feeling when I look at this painting? Like a piece of music, a painting can touch your soul, make your heart sing, your eyes water, take you back to a place you once loved, or forward to one where you would like to be. For these reasons, or any other good ones you can think of - that portrait reminds me of my beloved friend - whatever. These are the real reasons for buying art, not some silly popular reasons. Just because everybody else likes that artist and has him/her on their walls is no reason to rush out and buy a poster yourself.
Art is meant to be looked at, not locked away in some bank vault. Buy what you like - there is no better reason than that.
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Is Contemporary Art a Good Investment?