Didn't he say he wanted something to hang in his flat?
Buk, buying art as an investment is, luckily, much easier than buying stocks. It requires the same sort of research, but if you pick a dud, you'll at least still have something to brighten your flat.
The key to buying art for both enjoyment and financial gain is to buy only things you personally like. As noted above, this takes the sting out of it a bit when the rest of the world fails to recognize the genius in that painting of dogs playing poker.
This doesn't mean that a simple sort of pleasure in something should be the only consideration. You need to educate yourself, and aside from doing basic library research on sales volume and pricing to get a sense for the market, it is very helpful to get out into galleries and see a lot of what's out there. One of the ways you can buy art is similar to the way I buy wine: you develop a reputation with a knowledgable seller who comes to know your taste and can look out for pieces that you might like which will also be promising investments. Alas, in the art world, "promising" is the best anybody can offer you. Nobody can ever guarantee any investment in an emerging artist.
A word on new media: It used to be that a simple sort of limitation could be put on things. Paintings are by their nature one-offs, and lithographers will generally pull a print of a destroyed plate to record the end of a limited series. Digital media don't work quite the same way, and I suspect that part of the problem collectors have with this kind of work has to do not only with the materials (will this printer ink fade? will this coated paper degrade?) but also with the artist. There is a sort of suspicion that these artists aren't really old-style craftsmen with huge investments of time and money in acquiring their skills and equipment, and thus that they're somehow not trustworthy. If all it takes is a few clicks for hundreds more copies to be printed, each one indistinguishable from mine, what assurance can I have that this kid in hornrimmed glasses is going to keep the edition limited to ten?
However, I personally am a big fan of new media and think they're a great way to bring more affordably-priced work into your home. As the art-buying public becomes better educated and these artists find their way into the existing and trusted gallery and art school infrastructure, these works as a class will go up in value.
This has already happened to a large extent, so if this sort of work appeals to you, I urge you to try a few things out. |
