The art market is exploding and attracting an increasing number of enthusiasts and investors in search of future stars - especially in the Modern and Contemporary art market. If you are thinking about investing in Contemporary fine art but are overwhelmed by the choice of artists on the market, the following article will provide our expert tips and well-kept secrets on investing in art for beginners. Who knows, maybe you will soon own a painting by the future David Hockney!
How to make a smart investment in the fine art market
Keep an eye on emerging artists
Investing in an emerging artist who is just beginning their career is one of our key tips for several reasons. Firstly, because their artwork is more often than not reasonably priced, allowing the buyer to feel a sense of financial security while enjoying the thrill of purchasing a piece that may accrue value. Secondly, because buying a signed painting, sculpture or photograph means investing in a piece of art that will adorn your home or office. It is worth every penny if something brings you joy everyday. That is why it is crucial to select a piece that you love and that blends harmoniously with your taste. It is important to keep in mind that some now-prolific artists like Andy Warhol were ridiculed and mocked by art critics when they released their first pieces. Taking a chance on a piece that catches your eye can be a game changing decision.
Know how to think outside the box
Don't focus on one particular style or medium. Many people often miss out on promising artists simply because their field of research is too narrow. Curiosity is not a bad thing in the art world, quite the contrary!
We learn every day
It is becoming increasingly easy to research and purchase art online thanks to the internet. Investing in art is a growing trend and prices are becoming more affordable. For example, the average price for a piece by Orlanda Broom increased from $500 to $6,000 in less than five years. It is possible to Invest in contemporary fine art without breaking the bank.
Gain experience and learn to have a keen eye before investing in an artist
Don't panic if you're new to the art world. You don't need a degree in art history or to specialize in Abstract, Pop or Street art in order to make a smart investment. However, it can be helpful to expand your knowledge.
Look at as many pieces as possible. This will help you to form your own opinion about a piece and to be knowledgable about what is present and trending in the art market.
Artalistic's top tips on investing in fine art for beginners
Key recommendations for beginner art investors
In today's global art market, it is not always easy to make the right investment at the right time. Here are a few tips that we hope will help you along the way:
- Keep abreast with the latest news and which artists are gaining recognition. There are countless online platforms and other sources that can help you keep track of what is going on in the art world and help you find emerging artists with strong potential. Artalistic has a staff of passionate individuals that are ready to give you expert advice. Other websites like Artprice also offer extensive information about the art market.
- If you keep track of an artist whose work is becoming popular and who is gaining accolades it can be a good idea to invest in another artist with a similar style. Keeping an eye on artists that are gaining good reputations will also help you learn how to identify trends and future best sellers.
- Research all different types of art and see how the work evolves - paintings are not the only type of art on the market. For example, at the moment, disciplines such as drawing and photography are increasing in popularity and are worth checking out.
Beginner's tips for investing in fine art
Don't forget to check on the transparency and reliability of the platform or art dealer you decide to make an investment with.
The person in charge of the gallery or website that represents the artist should be able to provide you with provenance papers. Beware of overly tempting offers and exchanges or transactions that appear suspicious.