In addition to aesthetic appeal, art can serve as a solid investment, bringing in financial returns over an extended period of time. Our art experts share top tips if you are looking at purchasing art for long-term reward.
Visit galleries
“Buy from reputable galleries or art fairs and establish relationships with them. Also, look at online auctions to establish prices and get familiar with the huge variety of artwork on offer. The Turbine Art Fair Membership programme or TAF Triangle is an opportunity for art fair lovers to experience the magic of TAF for longer than the art fair weekend – we are offering three membership tiers: TAF Enthusiasts, TAF Insiders and Artist. More info can be found on our website.” – Glynis Hyslop, founder and director of the Turbine Art Fair
Do your research
“Art is rarely a bad investment, but it could take years to go up in value, so avoid buying trends that may not suit your personal style or preferences. As a new investor, it is important to do research. Develop some basic understanding of art movements, mediums and styles to make an informed decision.
“Look for originals and verify these directly with the artist, galleries or art agents and ideally have it signed by the artist. There are up-and-coming artists you could consider. Whatever platform they use to build their brand, see what reviews and interest there is in their work. As that artist grows, so does the value of their work.” – Brigétte Baskerville, artist
Consider your motivation
“Decide whether you are buying art for the sake of art, or because you want to become a collector of a certain artist’s work. Remember not everyone has the means to buy a Van Gogh or a Jackson Pollock, and as artists, they too started somewhere. Ask questions – having a better understanding of the artist’s practice and works helps inform the decision you are making. Remember that art is also subjective, so go with your instinct and what inspires you.” – Brigétte Baskerville, artist
Decide at your budget
“Prior to purchasing any artworks, you will need to determine the type of budget you are willing to set aside. As a first-time investor, a budget will assist you in researching which artists and works are within your price range and which you will have to invest in at a future stage.” – Agata Jarosz, owner and art consultant at Jarosz Collection
Take your time
“Rome wasn’t built in a day – building an art collection takes time! Be patient with yourself and do not rush it. Enjoy immersing yourself in the art scene and as you become more knowledgeable, your collection will grow, and you will be a lot happier through it.” – Agata Jarosz, owner and art consultant at Jarosz Collection
In the November issue of SA Home Owner, we explore more about art in the home. Subscribe to SA Home Owner here.
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