How To Invest In Art

How To Invest In Art

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I've got to confess before we begin. The only "art" I know is the guy who cuts my hair. But that doesn't mean that I don't have art hanging on my walls. I own art because I know what I like and the pieces give my apartment life.

But art can be much more than decoration. It can be an investment. In fact, some investors rank art second only to property as the best place to put your money. But as always, the question remains: How can you find a piece that will appreciate in value?

Here are some tips to keep in mind if you're interested in making art part of your portfolio.

what to ask yourself

Am I interested in art?

This may seem like a basic question, but too often novices enter the art market without a passion for the medium. The result is that they make poor choices and end up with pieces they don't even like.

Am I knowledgeable about art?

If you took an art history course in college, then good for you. But don't think that your knowledge begins and ends there. The art world is like any other market, it lives on what's happening today and it hunts for what will happen tomorrow.

One way to find out what kind of art lover you are is by visiting galleries and art museums. Museums will give you an indication of the field; galleries will tell you what's going on in the world of art right now.

Think of galleries and shows as the marketplace; you must attend them to know what's going on. As a bonus, gallery staff can usually answer a lot of your questions — but keep in mind, they are salespeople.

Am I a first-time buyer?

When it comes to art, or any money investment for that matter, it's easy to think that you know what you're doing. After all, you see the success of some and you think, why not me? Art, like property, has a lot to do with business, but even more to do with the buyer's taste.

Experience plays an important role in this investment process. While a first time buyer isn't likely to understand how and why the market swings on taste, he isn't necessarily at a disadvantage.

Perhaps the best way to insure your investment is by purchasing something you like. Art prices rise and fall, so if you buy something that you like, you'll be able to live with it through the lean years.

Here's how you can stay informed...


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