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Articles> Investing in Art
Art as a
financial investment – a money-making proposition, in other words –
is a sensitive subject. Often it conjures up the worst case scenario: a beautiful
work of art which never leaves its packaging and is passed between owners
purely for profit. This scenario is anathema to most art lovers and yet few
of us can deny that there is an inherent pleasure in knowing that a work of
art we bought for a small sum is now worth more; not necessarily because we
want to sell it, but because it confirms that our judgment was right: the
artist was talented, the piece was meritorious. Who, other than the most hardened
cynic, would not enjoy the warm glow this engenders?
For most buyers, however, the art itself is what draws them into a gallery
or exhibition. They purchase a painting, print, sculpture or item of craft
art purely because they fall in love with it.
‘The number one tip that I will probably keep repeating, is not to be
afraid and to simply buy what you enjoy,’ says Clare Hatfield, of Hatfield
Hines Gallery in Holt, Norfolk. ‘People get hung up on thinking they
should be buying certain things. Unless you’re a serious investor, which
most people really are not, that is the wrong way to look at it. Buy something
you enjoy – preferably original and of good quality – and you
will likely find that over the long term it is a worthwhile investment as
well as giving lots of pleasure.’
Remember that the art will be going into your home, says Janet Clarke of the
Totteridge Gallery in Earls Colne, Essex. ‘You really have to love the
art as you will be living with it for many years.’
However, if a work of art is to have any chance of appreciating in value,
the art specialists cannot stress too strongly the need for it to be either
an original, a limited edition ‘artist print’, or a crafted limited
edition print by a respected artist (for instance, woodcuts, etchings, engravings,
screenprints and traditional lithographs).
If you are planning to invest in artist prints, Laura Williams of Art 18/21
in Norwich, Norfolk, believes they offer an excellent, cost-effective entry
into buying art. ‘There is a huge difference between the mass produced
prints that flood the market and are of poor quality, and limited edition
artist prints,’ she says. ‘These are not reproductions but original
works of art, made by the artist. Having produced a work which may, for example,
be oil or acrylic on canvas, the artist will oversee a limited number of prints
of the image. The prints will be on a quality paper and the colours will be
carefully worked. The printer will produce an Artist Proof (AP or derivative
eg Eprouve D’Artiste EP) which the artist will sign if happy with the
quality of the work. The Artist Proof therefore comes before the edition and
some collectors actively seek Artist Proofs. The smaller the edition the more
valuable each work becomes. Lower numbers in the edition can be more desirable
as the impression will be closer to the proof. In the past not all limited
editions were signed. A print will have a higher value if it is signed by
the artist and carries the edition number in the artist’s hand.’
Janet Clarke advises buyers to consider the following points when purchasing
a work of art: the condition of the piece; its authenticity; and where the
work stands in an artist’s oeuvre (body of work), for example, is it
a good example of their work, or a less impressive example? Next, how well
framed or presented is the work – has a work on paper been conservation-framed,
for example? And finally, is the price fair and reasonable?
Collectors who observe the market will already have some knowledge of these
factors, but for those buyers new to investing, the most sensible route is
to consult a professional whose opinion they trust.
Who then? A gallery or a dealer?
This is only a small part of the article.
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