Art imagery can be used to buy and then resell at a profit. If done correctly and with good judgement, art imagery can be just as profitable as other types of investment. How do you select art while making art investment profits? These are 12 things to consider before you buy:
#1: Differentiate the 3 Types of Art Work:Decoration is art that coordinates with a room’s colors and furniture as decor. It is not an investment-worthy piece of art. Collectible art is: It’s being collected and there is a very small market for it. The work is generally of “student” quality, not better. It’s okay if you like it and wish to keep it. It can be sold at some point to get your money back, or make a little profit, but it will not become investment art. It is best to have investment art done by well-known, high-calibre artists. Both nationally and internationally, it is bought by investors, collectors, and dealers. It is recognized by experts, connoisseurs, and art historians as such. It can be easily sold to make art investment profits. When looking for investment returns, this is the category to focus on.
#2: Be mindful of general preferences in art work: Horizontals instead of verticals, for girls rather that boys, landscapes than seascapes. Horizontals are brighter than dark tones. They can be 24″x36″ or medium or small. They are cheerful and not somber.
#3: Only Buy Art You Love and Can Afford. It is important to only purchase art as an investment that you feel strongly about. You will only gain if the value of your art increases. You can still enjoy looking at it even if its value does not increase. Be realistic about your means and budget. Keep in mind the old saying, “Much is more than it costs”!
#4 – Only art prints made by the artist: This is very important! Do not buy prints that are commercially made. Each edition of 10-20 prints, made by a well-respected artist, is sold at a higher price.
#5: Buy the Best Art Work of an Artist:The most valuable work by an artist, regardless of whether they are great or not, is worth more than the ‘average work’ by the same artist.
#6- Purchase Art Work with a Paper Trail: When accompanied by documentation, the work of a great artist is more valuable and has greater resaleability. This is because the documentation proves that the work is authentic, and tells a story about the work, which intrigues people.
#7: Buy Art Work Signed and Dated by the Artist: Although it may not be obvious, the artist’s signature or date of original production must be visible on the work.
#8 – Purchase Artwork in Fine Condition and Take Care of It! There can be a wide price range when it comes to selling investment art. One might choose something that is in perfect condition while another may need to be repaired or touched up. A piece of investment artwork will appreciate in value if it is well cared for.
#9: Buy Moderately Large Art Work, This is due to displayability. It is less attractive if the work requires a lot of space to display it.
#10: Buy the Most Common Art Work of an Artist: You can either buy an example that is a representation of the work an artist is most famous for or specializes in or you can purchase a piece that isn’t. The former is better for investment purposes than the latter.
#11: Buy Art Work Before the Peak of Demand: If the artist’s work is popular, it means that it’s not the best time to buy. The price will be too high. It is important to purchase before the time comes. You should probably sell before that time comes.
#12: Buy Art Work With A Look To Incoming Art Trends Watch for global economic and political shifts to spot emerging art trends. You will see a change in the type of artwork coming into or going out of demand if oil prices rise dramatically or new political developments occur. It is important to be aware of world shifts and how they impact art sales. Look back at the past to determine which shifts have affected which art types and how. Then, use that information to predict future trends. This knowledge will help you make informed decisions about investment art.