INVESTING IN ART
March 26, 2023
You might want to be an artist or you may be a person who supports the arts or both. Many of my artist friends also purchase art to enhance their homes and bring joy into their lives. We go to receptions, openings and open studio tours. Along with enjoying the wine, hors d’ouvres and comradery that such events offer, we enjoy purchasing each other’s work. Those purchases bring joy to the buyer, but they are also an investment. There was once a belief that only a certain type of individual had the knowledge, skill, and interest required to successfully invest in artworks.
Strange Meadowlark
Thankfully, the idea of art buying as being only for those of a certain class, educational level, or economic status has diminished. Actually, investing in art is an opportunity that is open to everyone - and the amount you earn actually has very little to do with where you start. Wondering how to get started? Read on for a crash course in investing in art.
A bouquet of Flowers
When investing, risk is always a consideration. Artwork, however, is not correlated to any stock index or market. Buying art acts as a store of value completely separate from traditional asset movements. Your art investment can actually counter the regular movements of the other investments you make. While your art is sitting on your wall and bringing joy to your life, it can also be increasing in value.
Argentinian Street
Even a beginning or small investor can gain from an art investment. I live in a state that is not a major art destination. But there are local, regional and state artists whose work increases with each passing year. There are collectors of Nevada artists who have seen their collections increase in value with time as the artists are no longer producing the beautiful work that they did and the rarity of the pieces makes them worth more that they originally were. For instance, Lorenzo Latimer was a California artist who conducted workshops in the Nevada Sierras. His work and that of his students was shown at the Nevada Museum of Art and many of the valuable artworks were from the collection of local artbuyers. If these people wanted to sell their collections, much more than they had originally invested would come to them through the sales.
Random Orchids
The art market is full of artists that have yet to gain a following or break into the blue chip world. Up-and-coming artists often produce top-tier quality works for a fraction of the price of more well-known artists because they don’t yet have the name recognition.
26 Pierce Arrow
