The value of the modern art market has experimented an upward trend in recent years, as both paintings and sculptures of artists living and dead have become a focus of interest for collectors and investors. So if you’re an art enthusiast and value art profitability, read carefully the following tips to learn how to successfully invest in the modern art market.
Learn about the market
If this is your first time, information is the key: you must investigate and understand the art market. Although it is not an easily predictable market, the more you know about it, the more chances you have of making good purchases and investments.
The inner workings of the modern art market is complex, and we understand that the task of understanding it can be daunting. Therefore, we suggest that you focus on a specific niche to become a specialist on it. Thus, this process will feel more manageable for you.
But where can you get the information? There are several sources: specialized books (we recommend The Labyrinth Of Art, by Carmen Reviriego, a must for the uninitiated), art magazines, Internet, and of course, visiting exhibitions, fairs and art galleries.
Follow your personal interests
Before choosing the niche that you’re going to specialize in, we suggest that you ask yourself the following question: Do I feel passionate about this subject or niche? In other words, do not choose an area of expertise only because of its future prospects, don’t look at it only from the point of view of the investment (at least, not only), but allow yourself to be guided by your personal interests. Because if you feel passionate for the niche in question, it will be easier for you to spend the time necessary to understand it.
What are factors that determine the price of an artwork?
Before choosing an artist, you should know the factors that influence the present and future value of his or her artworks, which are typically the popularity and reputation of the artist, the opinions of art critics, the quality of his artworks, and the subject, as well as his previous buyers, which are particularly relevant if they were established collectors.
Buy the best you can afford
The best strategy in the world of modern art is certainly to buy pieces by renowned authors. Traditionally, the best pieces by already established artists are the ones that, over time, obtain a better value increase. Although it is tempting to invest in young unknown artists, if you are a novice buyer, we recommend that you buy the best you can afford in terms of quality.
We hope you found these tips helpful. In our next post we will address more keys so you can successfully invest in the world of modern art.
SOROLLA ONLINE ART GALLERY – ORIGINAL SPANISH ART