Alternative Investments in Contemporary Art
Some of the Best Alternative Investments UK that Investors Can Make in 2018
UK investors have several types of lucrative alternative investments from which to choose. These include precious metal investments in gold, silver, or platinum, fine wine investments, contemporary art investments, forestry investments, as well as luxury properties and below market value property investments.
Just as there are many different factions in the mainstream art world there are different valuations being put on today’s contemporary art. Like so many other collectables, works of art are essentially only worth as much as a collector is willing to pay to own it. How a piece of contemporary art is valued leaves a lot of room for discussion but many critics contend most of the art works are not worth the materials from which they were made.
Alternative investments may turn out to be the best investments for UK investors. There are some alternative investments that show promise, despite current economic climate in the UK. Fine wine, contemporary art and forestry are all solid assets that can bring investors considerable returns. Its important to understand, however, that investing successfully in any of these assets is not easy. Moreover, most investors will have to wait at least one or two years before reaping the fruits of their investment.
Invest in Contemporary Art If You Want Both Protection And Revenues
Alongside fine wine investments, contemporary art investments are one of the most tricky to pull of. Yet they can be highly rewarding, not only financially, but also spiritually. The thing is you have to enjoy art, and to have an eye that spots good art, the only one which is worth investing in. To invest in contemporary art you do need money, yet comparatively less than with other types of investment, say gold for example. The wonderful thing about art investments is that you can make a lot of money from a piece which you have previously purchased at a bargain. Of course this is easier said than done. Ultimately, having a knack for art is a must if you want to invest in contemporary art profitably.
The value on contemporary art is based on many factors, much the same way mainstream modern art and older works of art are valued, but due to the continued rejection of the style of art many pieces are not likely to achieve their full potential in the near future. Andy Warhol’s art is continuing to gain in popularity, especially since his death in 1987 and the 1992 death of Francis Bacon sent the value of his paintings through the proverbial roof.
Some of the contemporary artists considered top selling artists in their media include Jeff Koons and Damien Hirst, both still living and Jean-Michael Basquiat who died in 1988 at the age of 28. Their works have gained in popularity outside the traditional art world and those such as Basquiat will see their works continue to increase in value.
The more art works these artists are able to sell or have on display in public galleries increases the value of their works. Additionally, having won accolades for their work will also boost the price. The Artes Mundi Exhibition in Cardiff, Wales awards what is considered one of the top art awards every year and focuses on artists around the world whose work draws attention to humanity. Another top award, the Hugo Boss Prize is a $100,000 prize for a contemporary artist anywhere using any medium and is administered by the Guggenheim museum.
Choosing the best alternative investment can be difficult, so careful consideration is crucial. Your questions on best alternative investments will be answered by our industry experts, free of charge.
Best Alternative Investments.
- How much do you have to invest?
- How long do you want to invest for?
- When do you require a return on investment?
To help you through the multitude of choices, enter your details below and let the Compare The Financial Markets experts find the best alternative investment for you.