Some of the most famous paintings in the world are considered “priceless”. But then there are those that sell for millions or even billions of dollars and hang beautifully in a home or office for eternity. There are even those that are bought in the early years of an artist for just a few dollars. The point is, art is money – but is it worth the investment. Here is a breakdown of how art can enrich your life and what to consider when investing.
The Work & Artist
When you invest in a piece of art you are investing in the artist. He takes pride in having sold a piece even if it’s only for a few dollars. One day that artist could become famous which would make your early work worth substantially more. Even if the artist never becomes a household name, you can take comfort in knowing that you invested in someone’s future.
Now, if you invest in a great artist or a piece of art that is already well-known then you are making an investment that will pay dividends long after you are gone. Great art work has no limit on its value. A piece can be appraised for one price and sold for double or triple the value as enthusiasts fight in a bidding war to be the collector of that piece. This means that if you were to sell a high profile piece, you could make a pretty penny.
What to Consider When Investing
Most people who invest in artwork take time to learn about their options. You see, you do not just purchase a painting and hang it on the wall indefinitely. You may want to loan your piece to museums at a fee and you will definitely need to take proper care in maintaining the work through proper cleaning and storage. There are many factors that attribute to the age of a painting. It is best to speak with a restorative artist on how to properly store and care for you artwork before investing.
Investing in artwork is just like investing in anything else. You have to be prepared for what could happen and know that you may never get a return on your investment. Having a background in investing is the best place to start before you make the decision to purchase a true piece of art. MoneyedUp.com is a site designed to educate individuals on what to consider when investing and to learn how to navigate the volatile market. Before you sink your life’s earnings into a beautiful canvas, be sure to learn what you can expect for the future.
Other Types of Art Investments
Typically when you think about investing in art you are thinking about canvas paintings. However, there are many different forms of art. Music is considered an art that we all invest in on a daily basis by downloading songs or listening to the radio. Sculptures are another popular form of art that, when chosen well, yield large returns on the initial investment. Artifacts are also a form of art. We usually think about these items in museums but the truth is that there are hundreds of private collectors in the world who spend the time finding these wonderful pieces of history that are truly priceless. When you invest in art you invest in a culture, a belief, a person and the future of a niche.