Are Contemporary Art Investments Worth It?
Contemporary art is, with very few exceptions, much cheaper than the work of past masters. This is true of generally all works of art, and especially of paintings and sculptures. Hence art investments are considered by some lucrative, since you don’t need that much money to start them. Yet as it often happens with investments, things are not as simple of that – there are some points to consider before you decide to invest in contemporary art.
Investing In Contemporary Art Is Not Necessarily Cheap
Good art, the one that has the potential to significantly increase in value in time, is never cheap. Contemporary art is no exception. Truth be told, only a limited number of current works of art are expected to become highly valuable in the decades to come. These are the best to invest in, yet of course they are for the most part already highly valuable, not to mention close to impossible to acquire, having already privileged possessors. The remaining art pieces, the affordable ones, don’t have a place in art history guaranteed, and investing in them will always be a bit of a gamble. Hence safe art investments are not at all cheap.
Invest In Contemporary Art If You’re Uncertain About the Economy
It’s generally agreed that investments in art are good for keeping your money safe during periods when there are great fluctuations in the economy. Good art is timeless, and its value almost never depreciates suddenly. Good art is no exception, yet note that safe investments are only those made in enduring pieces that are sure to be talked about in a few decades. Knowing how to spot these rare pieces is an art in itself.
Investing In Contemporary Art Will Not Make You Rich Overnight
It takes an art savvy with a lot of money to spend and extremely favorable market conditions to make a lot of money from an art investment. Most investments bring moderate gains, and this over a number of years. So, if you want to invest in contemporary art you don’t only need a nice budget, but also a lot of patience. If you’re not sure to possess the latter, then art investments may not be for you.
In conclusion, contemporary art investment are worth it, especially if they are used as a means to safe guard already acquired wealth, rather than for making a lot of money quickly.