The Guide To Procuring Artwork As An Investment
Years ago, a cutting edge satire periodical solicited the works of children and displayed it in a gallery — under the pretense that the art was created by adult artists. Then they noted the opinions of the hipsters who came into the gallery and talked about how innovative the artwork was. To me, that little exercise proved that creative art is fully subjective. And often, much like The Emperor’s New Clothes, it’s a matter of crowd opinion.
In the general scheme of things, it doesn’t matter what the art look like; it’s only important that it speaks to you personally — unless the art is being purchased for investment purposes. That’s an entirely different story! The art world can be intimidating, so if you’re a new collector and you are planning to find some that will be valuable at some point, these recommendations may assist you:
Become proficient
Although artwork is subjective, there are a few guidelines about what causes it to become valuable. Some types of art, for example seasons paintings and other similar types of images, tend to be more in demand than the others, actually leading them to be worth more. And it’s important to determine the difference between giclee prints and original oils, because the valuation of each may vary widely. To understand these complex aspects, you can become a member of your nearby art museum, read art magazines and instruction books, attend art festivals, speak to artists and collectors, or devote some time to touring galleries. Also, newspapers in larger urban centers generally offer art critique, so they can also be great educational resources.
Buy art you really enjoy
Pay attention to your intuition when it comes to investing in art and only purchase pieces you truly love. If you have a strong positive reaction to a piece of art work, most likely a number of other people may too. That can have an effect on the future value. But no matter how much you really like the art, you might want to learn about what you’re acquiring before you invest. So you should determine if the piece is an genuine original, a limited edition or a reproduction. If it’s a reproduction, find out as much as you can about the type of paper or canvas and the processes used to produce the reproduction, as these elements can impact the price.
Obtain the right documents
The future valuation of any art you purchase can only be boosted if you have appropriate documents. When you buy from an art gallery, retail store or from the artist directly, make certain to get a bill of sale. If the item is a limited edition, get a letter of authenticity that indicates the number of the piece, if applicable. This documentation should be fastened to the back of the art in an envelope, along with the artist’s biography (if this is available).
Guard your art
Along with taking the precaution of safeguarding the artwork in transit to its final destination, you also need to make provisions for protecting it in the future. Make sure that sunshine or air from your heating and air conditioning system are not going to hit it directly, that it is not installed over a functional fireplace and that you exhibit it high enough so that kids cannot access it. If you will be framing the piece, use UV-blocking glass or Plexiglass that will keep out sunlight that can diminish the colors. And if the item is very precious, you should insure it. Art insurance is reasonable, so you should be able to get plenty of coverage for a small fee.
The points above are just several of the issues to be aware of when acquiring fine art as an investment. The suggestion to buy only artwork you love is probably the most crucial though. Valuations will probably change with time but beauty is everlasting. And you can not put a price on how having beauty surrounding you can improve your everyday life.
December 13, 2011
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Posted by Jam Man
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