Benefits of Investing in Art

By | June 30, 2022
CC0/Free-Photos/Pixabay

Whether you consider it an investment, a hobby or just a cool way to decorate the walls in your home, acquiring new art can be a fun and exhilarating experience. Although many people assume collecting art is only for millionaires, the truth is you can start your own art collection on any budget. You may not have the funds to fill it with famous pieces, but all that matters is that you fill it with pieces you love.

Know What You Like

First, only collect what you like, even if it’s something obscure that others may not appreciate or understand. Unless you’re just trying to make a quick buck — and that’s often hard to do — putting together a collection won’t be fun if you force yourself to choose items just because they’re trendy. If you aren’t sure what you love, go to the library and check out some art history books. Go to art galleries in your community, and check out the artisan booths at local fairs and festivals. Do a simple internet search, visit an antique store or flip through the art at your local craft store or big box store. Figure out what appeals to you, and use that as a starting point.

The next step is knowing where to find the art you like. Some of the places you visit to discover your taste may also sell the types of pieces you like. Craft fairs, festivals, antique shops and galleries are good examples, but you can shop for art at many other places, including estate sales, where you may find rare and unique pieces, and art websites like Etsy, ArtStar, Uprise Art and Editioned Art. Some artists allow you to visit their studios, and auction houses typically have art in their inventories. If you go to auctions outside of major cities, you may even find a rare piece at an excellent price.

Read:   Can I Invest in Ftx

Do Your Homework

Before you make a purchase, especially an expensive purchase, you want to do your homework on the artist, the item and its background before signing on the dotted line. In some cases, the seller may not realize the value of an item and sell it for a bargain price, but you don’t want to pay too much for a piece, even if you love it. You also want to avoid buying something advertised as an authentic piece that is actually just a reproduction. Be on the lookout for fraudulent items, and learn how to read the documentation that verifies the authenticity and provenance of a piece of art.

Take It Slow

If you know your budget for starting an art collection, don’t rush out and spend it all in one day. Don’t expect to put together a huge, envious collection overnight. It takes time to curate the perfect collection for your interests, tastes and passions. For many art collectors, the hobby becomes a lifelong journey. You never know when a new artist you discover turns into a huge success, making that $100 painting you bought worth a small fortune — and bragging rights — one day. Starting slow also allows you to save up for the more expensive pieces you may want to buy one day.

Treat Your Art Well

Finally, after you purchase your first pieces, make sure you take care of them. Learn how to display and preserve everything you buy, and make sure you have plenty of space to keep your art. Sure, you could rent a storage building if you don’t have enough room in your home for all your treasures, but what’s the point in having an awesome collection if you can’t show it off? If you acquire expensive pieces, insure them against theft and disasters. You may also want to make a plan for what happens to your art after you pass away. If you don’t have family, you may want to donate art to a museum or charity, for example.

Read:   Artist to Invest in 2020

Benefits of Investing in Art

Source: https://www.questionsanswered.net/article/how-to-start-an-art-collection?utm_content=params%3Ao%3D740012%26ad%3DdirN%26qo%3DserpIndex

Posted by: finance.companiamedica.com

Leave a Reply

Your email address will not be published.