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Finance

How to Become an Art Investor

There’s a strong supply and demand in the art world for the most sought-after pieces be they paintings or sculptures, glass blown works or framed photography. The types of art in this world is literally limitless. If you want to get into art investing and pursue a specific goal, whether it be to buy and sell to produce an income or to save those pieces to pass down to future generations as they increase in value, it is important to know the world you are getting into and how to navigate it. Do you want to know how to become an art investor? Let’s look at the basics, shall we?

What type of art do you want to invest in?

art gallery image

Do you want to specialize in a specific type of art, such as photography or glass blown pieces, or do you want to collect anything that happens to strike you no matter the medium? This is perhaps the biggest decision you have to make when first deciding to become an art investor. 

Caring for the Pieces of Art

person drawing

Every piece of art that you purchase must be stored properly to keep it from getting damaged. If you plan on having it on display, it must be displayed in a way where it won’t be damaged by the sun, dust, or even passersby who can bump into it and drop it. You must know how to clean the piece properly so that damage isn’t done to it in the process. Caring for the piece of art is extremely important so you don’t lose money on your expensive investment. 

Do Your Research

image gallery frames

Before you even attend your first art or estate auction, you will know what is there. Research each piece you are thinking about so you know its history, what it is worth and what its expected value is now and in the future. Research as an art investor is extremely important and will be the cause or your success or the cause of your failure. 

What’s your budget?

images on wall framed

When you go to an auction it is always important to know your budget. It’s very easy to overspend or lose out on a piece because you are afraid of going over the budget you don’t know you have. If you have a firm number in mind and don’t go over it, then you will know the limit you can reach before wiping your hands clean of the bidding process on the piece you are going after and deciding to try your hand at the next one instead. 

Find Your First Pieces

bicycle image gallery art

Research art or estate auctions in your local area and what pieces they have listed. Some will be closed and won’t list what pieces are there but with some digging you may be able to find out what pieces might be listed. This is when research is your friend, remember? 

If you have a low budget at first, you can always find great deals at an auction on pieces that you can later sell at higher prices that are more like what they are worth. Auctions are great places to get pieces for less than what they would normally go for if no one is bidding, so be on the lookout for deals. This is how to work up to the pieces you really want. 

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