How To Successfully Invest In Art

May 21, 2019 3:49 pm

If you want to secure your finances for the future and retire in a good position, investing your money is key. If you just let it sit in a savings account, it will grow a little over time but you need to actively invest if you’re going to see any meaningful returns. There are all sorts of different ways that you can invest your money, some more common than others. You’ve probably already considered investing in stocks or foreign currency (Forex trading), maybe you’ve thought about buying a property to rent out or flip. But there are some other less common forms of investing that can be equally as lucrative, if not more so. Investing in art is a great way to combine an investment strategy with a hobby because you can display your collection in your home. If you choose pieces wisely, they can appreciate in value by a significant amount and you could stand to make a lot of money. However, like any other investment, there are risks involved and it’s important that you know what you’re doing before you get started, otherwise, you could end up making poor decisions and losing a lot of money. If you’re interested in investing in an art collection, this is everything you need to know to get started.

Image Source

Always Seek Expert Advice

Even if you have a keen interest in art and you know quite a bit about it, that doesn’t necessarily mean that you know how to invest your money wisely. Like any other investment, you need to seek professional help. If you were investing in stocks, you’d go to a stockbroker to get expert advice on where to put your money. If you’re investing in art, you need to go to an art consultancy to get their advice on what you should buy. They will be able to give you advice on what the market is like at the moment, which pieces are likely to appreciate in value over time, and where to get the best deals. They can also help you through the buying process and give you good advice on storing, moving, and displaying the art that you buy.

Look For Pieces That Fit An Artists Style

All artists have their own distinct style but sometimes, they will create work that is different from anything else that they might have done. A lot of these pieces tend to sell for a fairly low price and you might think you’re getting a bargain on a piece by a prominent artist, however, they will be difficult to sell. In the future, it will be the pieces that fit with the artists overall style that sell for the most. The more obscure pieces might be cheaper to buy but they’re also harder to sell and don’t go for anywhere near as much, so they’re not a sensible investment.

Do Your Research

You can never be entirely certain whether a piece of art is going to appreciate in value or not but you can get a good idea if you do your research. Before you buy a piece, you should always check an art sales index to see how much other pieces by the same artist are selling for. This will give you a better idea of whether you’re getting a good deal or not.    

Follow this basic advice and you should be able to get started with art investments without too many mistakes.

%d bloggers like this: