4 tips on making an art investment
4 Tips on Making an Art Investment
If you’re thinking about making an art investment. Not only did the art market performed better than the equity markeT, but it has also gone more mainstream, becoming thus more accessible for investors not familiar with art investments.
An art investment though possibly rewarding, is not going to be easy. Here’s some advice on how to go about it.
· It takes time to resell art. As an illiquid investment, an art investment requires your long-term commitment. While sometimes you can manage to sell an artwork or a painting that’s in demand in a matter of weeks, it usually takes at least a few months to resell art.
· The art market is, ultimately, fickle. While good art from good artists tends to endure the passing of time, it’s usually the art that’s in vogue that brings the highest returns on investments. And what’s in vogue changes suddenly, and often, unexpectedly.
· Auction houses are expensive. Buying and selling art through action houses in the UK is a costly business. There are always some fees that you have to pay. Sometimes these fees are as high as 10-15% of the total price of a purchase or a resale.
· Buy what you admire and enjoy. Investing in a painting that you would not hang on your living room wall for all your guests to see may not be a good idea. That’s because the best art investors are motivated. Owning art that doesn’t inspire you means most likely that you won’t be willing to devote much of your time buying and selling it.
IContemporary art investment with Compare The Financial Markets
Compare The Financial Markets has a direct relationship with many artists and galleries. Let our experts help you choose the best contemporary art to buy. Choosing the best investment can be difficult, so careful consideration is crucial. Your questions on the best investments will be answered by our industry experts, free of charge.
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