By STEPHANIE BARTON Reviewed by THOMAS BROCK
June 3, 2022
Source: Investopedia
Photo / Image Source: Unsplash
Gallery owners will tell you that buying art is an emotional decision, but don't fall for that line if you are thinking of it as an investment. Research any living artists who catch your eye. Learn about their education, their commissions, and their exhibits.
Visit museums, galleries, and art institutions in your area regularly so you can recognize potential movers and shakers in your region. If you're considering a piece by a renowned artist, get an appraisal. Look for quality, and don't buy anything in bad condition. With a little effort, you may befriend the next Rothko or unearth a lost masterpiece that's worth a million.
Is Investing in Fine Art a Good Investment? Investing in fine art can be a good investment for some but is a risky endeavor. It is not guaranteed that all art will appreciate in value, so an investor can never be sure what the future value of the art they are buying will be. Art that is rare is more valuable and particularly if it is an original piece as opposed to a reproduction. Art and artists come in and out of vogue, so timing is also always a factor. Furthermore, purchasing art comes with additional costs, such as storage, insurance, and commissions.
How Do You Invest in Fine Art? The mostsim-ple way of investing in fine art is at an auction or through a gallery that sells an artist's work. One can directly approach an artist as well or commission their own art from the artist.
How Do I Start Investing in Fine Art? To start investing in fine art, one can attend online auctions, make visits to art fairs, and invest in shares of art through various online platforms, like Otis.
The Bottom Line
If you have the money, investing in art can not only add beautiful aesthetics to your home but can be a good investment if done right. Focusing on original pieces and items that are rare can boost up the value, and making sure you don't sell in times of recession can ensure you're getting the most for your investment.
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