Scottsdale League of the Arts
Invest in your future
If you are thinking about investing in art for your business here are my top tips:
1. Contemporary art is what makes most of the headlines these days and is the most popular and for that reason can offer the highest rewards. However, it is a volatile market. Buy carefully, slowly, wisely, and make sure you do your due diligence regarding proper authentication.
2. Diversification is key! Art is not stagnant and is ever changing. What is popular (and sells well now) may change! Diversify!
3. Art crosses into all mediums. Diversification is more than just different styles of fine art, it can also be decorative art. This Forbes article said, “Philip Hoffman has made investments into Chinese porcelain, for instance, that have served his clients well.”
4. Always buy the best you can afford.
5. Watch out for seeming bargains. You get what you pay for! When it comes to art–play it safe. If a work fails to sell at an auction (or at fairs) there’s a good chance there is no market for it. You may have to hold onto it for quite a while.
6. Buy low, sell high. Many works are down about 30 percent from where they were just five years ago.
7. New young artists (primary markets) can be worth the risk but you have to expect that the vast majority will never make it and be worth much. We covered this quite a bit in my last post but it is worth saying again. The example I gave is of Mr. Abello, the great artist (now owns his own Search Engine Optimization Company ). Read the last post to learn more.
8. If you love it, buy it. If you choose well, one day you will be able to sell it for a profit. And if you choose very well, perhaps you won’t want to! And that, indeed, a good thing too!
9. Join an Art club. There are many art clubs out there just Google your city + art club, or art organization. There are numerous organizations around. Here in Scottsdale AZ is the Scottsdale League of the Arts which is mainly focused on the Culinary Arts.
10. Network: I know it sounds a little weird but some of the best advertising is word of mouth. And if your friends and acquaintances have great taste, then you should be able to get some of their best recommendations of art.
11. Classic can be timeless. Depending on the theme of your interior design. You may want to consider a more modern type of art; however, if your building is pretty generic in theme, classic art is always a fine touch.
12. Don’t forget estate auctions! Yes if you have a retirement community in your area, you may be able to find some absolute gems in artwork, for very cheap.
13. Then there is also simply going through your family artwork. Sometimes you can find heirlooms that will be passed down from generation to generation. These are also incredible pieces of art if placed in the right setting and theme.
On this post we wanted to give a beginner art investor a set of guidelines for when they first start choosing art and what they should look for. Whether it is for your home or your business, the concept is pretty much the same. So here are some great tips that will guide you in your first investment. all about making life easier.
The Emotion of Art
The first thing you must consider is the look, or the feel, that the space is intending to convey. It is a modern office space? Then classical inspired pieces may not fit the best. Instead go for more of a modern vibe. And when in doubt–consult the owner! Ask them what kind of art they would like to see. Art conveys emotions and generates feeling. The last thing you want to do is pick art that they will not enjoy seeing.
“Art has energy, it has an elegance to it. If you look at really sophisticated, decorated spaces in top interior design magazines, they all have original art on the walls,” says Andrea Carson, a blogger at View on Canadian Art and curator of Artbombdaily.com — a new website devoted to making the process of buying, selling and curating art easier (the company’s catch-phrase is “Buy What You Love”).
As an art consultant — she can help you curate a collection of pieces that’s right for you — Carson says one of the keys to finding original works is starting locally.
“Finding original art by local young artists is not expensive, and you can supplement it by getting creative yourself. Frame your nephew’s drawings, or display seashells, vintage postcards or interestingly-shaped glass bottles. Your interior is an expression of your self — it should be personal, filled with quality objects and artworks that you absolutely love.” (From The Huffington Post)
Buying from Young Artists
Now let’s talk about buying. When you are considering any investment it is always wise to buy low. Buying from a young artist has many advantages. Of course you could be discovering the next Picasso (or not!) But either way you will have bought art a fraction of a price, found some pieces you really love, and a huge advantage–it will be totally unique. Even Andy Warhol at one time sold for just $300-$500!
A great example of this is the renowned comic book artist, D. R. Abello. (Comic art is really a specialty market amongst art enthusiasts, but when you find the right piece, enlarged, it can look fabulous on the wall of a business. It conveys a modern sense of fun, adventure, and enthusiasm for life.) There was a time when Derek’s award winning art sold for less than $100 a piece and a family in Minnesota who bought at least 300 of his original works. When D. R. retired from art and went to work for mega web design company, www.derekabello.com the value of those pieces skyrocketed. But the family in MN refuses to sell a single one! I guess they need a little adventure in their life! (Remember art conveys emotion!)
So you may end up with a Warhol, Picasso, or Abello on your hands and win big–but it is wise to know that a massive amount of art purchased in what we call the “primary market” from theses budding young artists will never be sold again. But some will. And this more than anything else, can turn into a great hobby. The more you learn the more you will be able to pick out pieces you not only love, but will be a great investment for your home or company.
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