I enjoy looking at art, visiting museums, thinking about what the artist was pondering about at the time of the painting or sculptures creation. As one who thinks I’m good at choosing art pieces that compliment a room or decor, I wonder if art can not only be viewed aesthetically, but can also be a good financial investment as well.
Obviously, some artist’s paintings are worth thousands to millions of dollars hands down; Picasso, Monet, Rembrandt, Pissaro, Van Gogh. But I’m not in the top 1% of the country, or someone who could possibly afford such works of art. I consider myself part of the middle class who might be lucky enough to score a more current work of art from a lesser known artist. One whose pieces sell more in the hundreds to few thousand dollars.
What if I decided I not only wanted to hang a painting on my wall to compliment my sofa, but wanted to use it as an investment. Hoping that years from now it was worth at least more than I paid for it. Where would I begin?
The reason I started thinking about art as an investment is because I know a woman who invested some money many years ago into art pieces. At the time, she was advised to purchase certain pieces from artists she knew with the prediction that these pieces would be worth more in the future. She’s now selling many of her pieces to pay off her credit card debt, yet is finding that most of her pieces are worth less than what she originally paid for them. But the motivation, years ago, behind purchasing the piece was to make money. In her case, this investment strategy didn’t pay off.
So, does this mean it’s a mute point; there’s no way to predict what pieces or artists will be worth money in the future? How can an artist even put a price tag on their work of art if their own future as an artist is uncertain?
A little more digging might reveal that some artists have more stamina than others. Someone who is more in tune with current art, such as a museum curator or art handler might have suggestions for someone thinking about investment opportunities. But even people “in the know” at the moment may not be able to predict what the future value of any particular piece is worth. In the end it might just be better to stick with pieces you truly love, in case they never amount to much more than what you paid.