There are essentially two reasons that one would buy works of art. Reason one is out of love and passion – you see a piece, like it, appreciate it and want to have it out of love and admiration for the art work or the creator. Reason two is that you see the purchasing of art work as a potentially lucrative investment. This is not necessarily a cynical thing – of course there are those of us that fall into both categories.
For those that don’t know much about the art world and are looking for a creative way in which to spend some potential investment capital, art is a great way of doing that. Not only does the work enhance your home or office surroundings, it can also reward you with potentially massive returns.
Contemporary art is the movement that we recommend you look at investing in. Getting the right pieces is not easy though and will require much time and networking. A good starting point would be to tour some of the UK’s brilliant galleries. This is where many of the superstars of the art world are to be found, and they will have been heavily invested in already. Investments like £500 million annually from the Arts Council helps to give these new artists a boost, and in turn creates a buzz for collectors to buy their pieces.
If you have any friends that are curators, they are the ones to seek out as they will have insider knowledge about potential artists on the rise. If you don’t fear not as we can still give you some general advice. We recommend buying early in an artist’s career and for those that are just getting shown in public spaces. If possible, get to know the artists directly (this is not as difficult as it sounds as many galleries have nights in which the artist attends).
Whilst it may seem like a bit of a chore to put in such work at the early stage it could be fun as you stumble across the next big thing and of course the investment potential could be huge. It’s also a great way of educating yourself on art, culture and investment. As well as the traditional gallery space it is definitely worth checking out online resources, art dealers, auctions and graduate shows.