add share buttons

Home » Business and Management » Buying Art: Practical Tips to Turn an Indulgence into an Investment

Buying Art: Practical Tips to Turn an Indulgence into an Investment

Buying Artwork is often considered to be the exclusive privilege of the rich and there is plenty of evidence to prove this with record sales making headlines over the world. Van Gogh's sunflowers famously selling for $39.7million back in 1987 is just one example.

With the current economic crisis casting a long shadow of financial insecurity for the foreseeable future, more people are looking for tangible alternatives in which to invest their hard-earned money. You can also visit londontradeart if you are looking for art investments online.

Image Source: Google

Chose a discipline

Art doesn't have to be just fine art: i.e. paint on a canvas. These items may have a broader range of prices too enabling investors to start small and grow their collection over time. One collector bought for his daughter, on the occasion of her birthday each year, an antique silver spoon.

Research your subject matter

Knowing your subject matter is vital and there is a wealth of information available ranging from the local library for more academic research to the internet for information on recent sales.

Study the market

Knowing the current market for your particular discipline is as important as knowing the provenance of a piece itself. The internet, again, is key and regular attendance at auction sales will help you to gauge who shares your interest in a particular style or genre as well as give you a guide to what pieces are selling for.