So, you might have had started buying art quite recently or would have been buying it for a long time already. Now, if you belong to the category of those who buy art because they love it or because they love to decorate their homes, here is a news. The painting hanging right there on the wall in front of you has the power to get you in the headlines of a reputed daily. No, there is nothing to feel intimidated, the only point we are trying to make here is that the art you own, if sold at the right time, can actually fetch you a good amount in the long run. In fact, not just a good amount but sometimes a great amount of money.
Yes, the gains are not guaranteed as, unlike asset classes they don’t have a highly reliant price index. But investing in them is still a great option to go for. Just study the art market a bit and start splurging your money in the art market. Let’s see how art investment is the best kind of investment.
• Adorns the walls and fetches you money later:
Investing in art is great as it beautifies your home till the time it is in your home and you don’t want to take it off from the walls. It requires little care and continues to astound every guest that comes over. It is like a tree that keeps giving and doesn’t ask for anything more than a bit of care in return. Even when you want to replace the contemporary art piece you own, it turns out to be a great investment. It has the potential to be quite profitable for you.
• Possibility for capital growth:
History has it, there are paintings that have turned an art collector into a millionaire overnight. Hence, with the knowledge of the art market and knowing when to invest and when to sell can prove to be beneficial in the long run.
•Constructing a portfolio:
While it great to invest in the stock market, diversifying your portfolio by investing in the art will go a long way. Also, work on diversifying the investment you make in the art as well. Don’t just stick to buying terrific contemporary art but other styles too.
By saying art the best investment, we in no way are promoting the culture of buying art for the sake of monetary gains. All we are saying is that every art lover whether he buys occasionally or collects fervently develops his taste in art over time. So, even if an artwork, if taken good care of, can last with a person for a lifetime, he may feel like changing it. Clearly, you will revamp your home décor, the wall color, and furnishing and if the painting will not match the decor and color scheme, it will be vain. What will you do with the painting then? The best option is to sell it. While it was adorning the walls of your space till the time you wanted it to, don’t leave it for perishing in some corner of your house, sell it to someone else and give the painting a chance to spruce someone else’s house. You enjoy the profit made, use it to buy another piece of art or save it for future use.
Also, when you buy your next piece of art from some store or online with the purpose of investment keep your mind and eyes open wide. Look at the abstract, modern, traditional or contemporary art paintings, segregate the ones you like in your mind or make a list. After this instead of hurrying to buy the work, you like the most, research. I have said it once and I will say it again out loud- RESEARCH. This is the real difference in buying art and investing in art. By researching about the piece you will get to know some inner facts that add value to the work you are planning to buy. So, look for quality, buy what you love but not at the cost of its value. Never overlook that. Who knows the effort and time that you are putting now, might make you cross paths with a painting that is worth millions. Everything will depend on your sensibilities, sense the worth of a painting in the forthcoming years and buy it.
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