Buying Art Can Make You Money
Some people prefer to invest in gold. Others prefer to invest in real estate. Some folks choose to just keep their money in a bank account. Then there are those that choose to invest in art. Although these investing decisions may differ from one option to the next, all of these options have at least two things in common:
- They all require one to take just a tiny bit of action.
- They can result in significant gains.
Now, with that being said, each of these options can result in different outcomes on a case by case basis. However, investing in art can be one of the best investments of your life from bpth a financial and personal perspective. To prove just that, keep reading to find out what investing in art did for these folks.
Disclaimer: Investing in anything may yield different results for each individual. That being said, you may or may not have better results.
Art Investment, Incredible Gains and World Records
Last week, the world witnessed what became know as the largest art sale to ever take place. The NYTimes reported that the sale took place at a Christie’s auction and it was for an original piece created by the world renowned Picasso.
Picasso’s painting, created in 1955, and titled, “Les Femmes d’Alger (Version ”O”),” sold at auction for $179.4 million a few days ago. This became the highest price to have ever been paid for artwork at an auction and set a new world record!
The painting previously sold for $31.9 million in 1997. The seller recognized 10% year over year growth in his art investment. I’m not sure what this means for the industry itself, but what I do know is that serious collectors are acquiring more and more pieces everyday and the art investment world is not going anywhere anytime soon.
What Does This Mean For The Smaller Art Investor?
I wish I had all the definitive answers hear, but unfortunately I do not. What I can say is that more and more families as well as professionals seem to be investing in art and for more than just the monetary value. Having had many individuals approach me with typical art buyer questions, I’ve heard them all and I can safely one thing. If you’re looking to build up or simply start an art collection, my suggestion is to do it first for the love of the piece and the personal feeling of joy that it may bring you and your family. However, knowing that you’re confidently going to increase you’re asset value over the long term is never a bad thing either!
I specialize in painting and creating artwork. I also am a consultant of other artists and artworks. Feel free to reach out to me at firstname.lastname@example.org should you need any additional art investment advice. I’d be happy to take a look at your collection as well. I enjoy speaking with all collectors!