Just like with any investment, value increases when demand does also – and if a gorgeous piece of art is what you’re looking for, then perhaps consider what could make your art purchase a smart one.
There are several tips to think about when buying pricey art that’s a beauty to the eye.
1. Buy art that you truly love
Since art is an investment that is long-term, your best bet is to buy work that really catches your eye. Afterall, if it’s not on your wall for years to come, then it’s probably not the wisest purchase.
Originals will always be a heftier price to pay but will potentially have higher resale value than a print by the same artist. If an artist releases a print that is in demand but does not have many for sale, then your resale value is likely to increase.
3. First editions
If you are thinking of purchasing a limited-edition print, try to get your hands on the first in the edition, or the artist’s or printer’s proof. The first runs are much more sought after.
More attention is likely to be given to artwork that has a strong message, has historical significance or is deemed controversial.
It is a safe investment to purchase work from an artist with a more well-known reputation. However, you will most likely be paying top dollar for their work if they are renowned.
6. Emerging talent
Talk to galleries and find out what is really selling and who is getting the attention at art fairs. Keep an eye out for emerging talent and pick up work early in their career so you get the best return in the long run.
What are some of your tips to earn an investment in the long run on your art purchases?
This article was published in conjunction with Over60.