Art Investment for Beginners
How to know what art to invest your hard-earned money in.
When it comes to buying art, people often say that you should buy what you like. But underlying that are all sorts of questions. How do you know if a work’s price will appreciate? How will you determine that a work is in a condition that will last? Will you be able to pass this on to future generations?
People buy art for all sorts of reasons: as an investment, for display, and to support the artist. If you feel like starting a collection, or desire to get more serious about acquiring artworks, here are five tips for you.
1. Know the intrinsic value of art.
Art is as good as gold, if not better. While a work has a value intrinsic to itself based on its size, quality, artist name, and provenance, the influence of the market can also drive up its pricing. It helps to keep track of market trends, trending artists, and new movements to know which art is put into the spotlight. You never know, a piece of work that you buy for P25,000 today might sell for P2.5M ten years from now.
2. Demand proper documentation of the provenance of your work.
You want to spend your hard-earned money on authentic works. Before buying a work, demand a Certificate of Authenticity. If the artist has passed away, you may want to consult an expert who can determine if a work is legitimate. A work can also hold more value if it has been exhibited at prestigious museums, or comes from esteemed collectors. Make sure to have proof an evidence of this as it will make the art more attractive should you decide to sell to.
3. Trust where you consign your investment.
When selling art, there are a number of options: private sales, auctions, gallery consignments, and more. It pays to do research about the seller’s background and reading the fine terms of the contract regarding sales estimates, reserves, and transaction costs. Make sure that the appraisal is fair to you.
4. Ask assistance from an art consultant.
Art consultants can be your guide into the world of art collecting. Not only will they introduce you to fascinating and compelling worlds of beauty, they can also guide your purchases and reduce your transactional risk. These consultants can also assist in the process of buying art, so that you can rest secure that you don’t miss out on the little details. Gallery Genesis offers Art Consultancy Training monthly, free of charge. To inquire, message us on Facebook or Instagram.
5. Be brave to venture out into the unknown.
Even the masters today once started out as unknowns. Seek out artists shining with talent, and support their practice. If you see a promising work on an online exhibition and your hunch says it’s promising, inquire about it and make the effort. Sometimes, great art doesn’t come to you. You have to come to it. You might even find the next Da Vinci.
This is only the tip of the iceberg about the exciting world of art collecting. There’s more to explore: the best mediums to invest in, how to store and care for your prized pieces, how to sell your collection, and more. Hear straight from the experts of Gallery Genesis about what are the best mediums to invest in, how to store and care for your prized pieces, how to sell your collection, and more
Gallery Genesis is holding an in-depth workshop for aspiring collectors this May 21, 2021 via Zoom entitled Art Investment for Beginners: How to Buy the Right Art for You. Sign up, bring a friend, and get ready for an enriching afternoon that might be the key to your future as a collector, dealer, or enthusiast.
To register, sign up in the Google Form Link below:
4/F One Magnificent Mile,
Citra Building, San Miguel Avenue,
Ortigas Center, Pasig City, Philippines
(02) 8633 - 8138
(0945) 612 - 9995
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