Tuesday, 18 November 2008

Buying and Investing in Art

Any time is really a good time to consider buying and even investing in good quality original fine art, and you don’t need to be an Oil Tycoon to do so!

Imagine a loved painting hanging in your office where you can enjoy the pleasure of ownership throughout your working day, or a wonderful artwork that greets you when you come home. These are good reasons to buy fine art, but the reasons to buy do not have to be limited to just this.

Investing in quality fine art has consistently kept pace with the stock market over the last few decades now and recently, due to the rise in the international art market and the much-coveted decline of stock market shares, begun to out pace it considerably. That not only includes works by the blue chip artists both living and deceased, but also works by lesser-known artists. Paintings by artists who are selling in the best galleries, emerging artists with new art theories and even those by well known artists of the past can be very affordable.

Investing in fine art does not need to cost the thousands to millions of pounds that we read about in the news. These are usually only over inflated prices anyway specially targeted for Russian and Arab businessmen with over inflated bank accounts!

Anyone can purchase a good quality piece of art at an affordable price if they know what they want and where to find it. The Internet is a great place to do research on the styles you like and on the artists themselves and is certainly less time consuming and more feasible than visiting the numerous art galleries. If you can visit your local and national galleries to help get inspired, this all helps, and it has to be said that seeing art exhibited in an actual gallery does help you connect with the work.

The common outlook and probably best advice is to just ‘buy what you like’ first and buy as an investment second, but it is very possible to do both, to have a painting you love and also something that you know you will not lose anything on. A painting wont break down or need upgrading, and if it is a piece you love, it will never get old and tired. So unlike pretty much anything else you spend money on, it wont mean you will be out of pocket on it. This means it can certainly be seen as an investment, especially if you have done that little bit of research and obtained an artwork by an artist that does establish him or herself. Or you may even just get lucky and have a billionaire bidding war on works by the same artist, and this sort of profile boosting is something money cant buy!

For business owners, Investing in art can be an affordable way for any size of business to increase and maintain customers and client bases.

Many small business owners, especially professionals such as doctors, lawyers, dentists and financial advisors, have experienced the benefits of displaying good investment quality art in their offices and reception areas.

Recent studies have shown that products benefit with increased sales when marketed with fine art. Professionals who display good fine art in their places of business experience that their clients and customers view them as having more authenticity, authority and professionalism. Restaurant owners have also come to find that art helps bring in customers, not just prints for decoration but good quality fine art.

A business purchasing original art can also reap the benefit of an investment that increases in value over time. There can even be a tax advantage as the art, or part of the purchase price can be deducted, just like any other office furnishing. Depending on the work and its value there are other possible tax advantages to be had from loaning work to shows or even local museums.

The overall important factor remains however, that investment in art is the visual pleasure received and if it has the potential to increase in value, even better.

A good place to start looking for original, contemporary art is at Artery Gallery of course!

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