Buy Art for Aesthetics
Not because you think it's a good way to make money fast
Many people feel that art can be a great monetary investment. But the reality is that it is very difficult to buy and trade art and make a lot of money.
Many people feel that purchasing art can be a great monetary investment, especially in light of the recent big-ticket Klimt painting that fetched $150 million dollars. But the reality is that it is very difficult to buy and trade art and make a lot of money.
A recent article on Bloomberg.com says that art is among the worst-performing investments, and that it's better for art collectors to hang onto art for the long term.
Back in the 1980s, art was a hotter and faster-shifting commodity. Nowadays, fueled by watching the Antiques Road Show and seeing ads for all kinds of "collectible" art, it seems many people think any art can be valuable or a good investment. And the idea of being an art collector has such cache attached to it. Being an art collector implies you are cultured, refined, have good taste and know how to pronounce all those French names.
There are many places you go on the internet to find advice on how to become an art collector. Some art collectors have started from modest means and spent all of their spare pennies buying art directly from the artists. These kinds of collectors are passionate aesthetes who have trained their eye to know quality by spending all their time in art museums and galleries.
The repeated act of looking at and evaluating art gives you the ability to discern quality, which will, in turn, make you a better collector. If you still want to collect art, start going to local art galleries and openings. Maybe you will meet some artists from whom you can purchase art directly. (Many artists enjoy selling directly since it saves a hefty gallery commission.) You can also start doing your research-what kind of art do you like? What kind of art would you like to surround yourself with and look at every day?
Knowledge is power. Go out, do your research and invest wisely in art if you still choose to do so. If you are looking for a way to make a lot of money fast, buying and selling art is not the way.
