Over the last decade, art works have become more valuable than any other conservative assets. Photography, video, sculpture, watercolors, ceramics are among the things that evoke investing interest. Are you wondering how to start investing in art? Here are the top 7 tips from an art investment consultant.
Top 7 tips from an art investment consultant
Being well informed is the main key
Good orientation in art trends, history of arts, and the current market situation is a must.
Learn to anticipate
The process of determining the price depends on various factors and can be pretty complicated and tricky. A smart art investor must learn to anticipate price fluctuations, considering all the factors and their combinations.
Pick the right time to buy art
Certainly, it is much more beneficial to buy works when prices are going down. Any art investment consultant will tell you that economic and political crises are the best time to make investments.
Any art collector should understand that investing in artwork takes time, usually up to 5 years. Do not fool yourself into thinking that you are going to make a profit overnight.
Seek advice from an art investment consultant
It is always a good idea to work with a professional. Art consultants are well aware of all underwater stones in this industry. If you want to avoid failure, they are the people who will help you make the right choice.
Know how to haggle
In this industry, you need to know how to haggle. Sometimes, the process of bargaining may take up to a few months or even years. Do not be afraid to hold the price. But the price should correspond to the current situation on the market. Just keep that in mind.
Invest in young artists
Most investors tend not to do this, but if a young artist’s work turns out to be a ‘bomb,’ you will make a profit within one or two years.
Finally, if you want to be successful in making investments in art, take your time to establish good professional relations and attend exhibitions and auctions as much as possible. If it does not make you happy, then maybe you just need to find another source of investing.