A BEGINNER'S GUIDE TO INVESTING IN ART
There's no denying that artwork can really make a space. But how do we know what we should buy, especially when we're on a budget? Here are a few tips to steer you in the right direction.
1. BE CONFIDENT IN YOUR TASTE
One of the most important things to remember when choosing art is to be confident when picking a piece you absolutely love. You really need to LOVE it! Keep in mind that you're investing in a piece of art which you will be looking at for years to come, so it's crucial that you have no doubts whatsoever.
2. WORK TOGETHER WITH A GALLERY
Gallery owners are there to assist you - and will work with you when you're ready to purchase a new piece. The common misconception is that purchasing through a gallery will cost you more, but it's actually the opposite. Gallery owners have close relationships with artists so they will be able to negotiate a good price. They can also keep you in the loop with pieces that come into their stock room, which are generally at a lower price.
3. INVESTIGATE THE ARTIST'S CAREER
It's important to look into the artist's career, reputation and sales history. Researching their popularity and growth is important, as is the demand for their work and if prices of their work are increasing. Remember, while many art lovers have struck it lucky by investing in an emerging artist who goes onto becoming famous, many others have not, so be certain to research as much as you can.
4. CONSIDER YOUR TASTE AND AESTHETICS IN YOUR HOME
Interior styles and tastes are always changing so you need to select a piece that will not only stand the test of time but also work in your existing decor and palette in your home. Neutral and subdued colours will always age best. Remember to think about how a particular piece will look in your home - and is it versatile enough to work when in different hanging locations and positions in years to come?
5. ACCEPT THAT THERE WILL BE RISKS
No matter how much research we do and advice we take, there are times when we can get it wrong. Accepting that this is possible and that all markets, including the art market, rises and fall over time is important. The most important thing is that you enjoy the piece while you have it and if one day you decide to part with it and it's possible to make a profit, well that's just a bonus.
WORDS | Hande Renshaw
IMAGE | Sam Michelle's artwork by Suzi Appel