When many people hear the word investing, they often think of the stock market or, more recently, cryptocurrency. While these are both available methods, they often come with significant risks, especially crypto, which is fairly new and has seen some recent drops that caused some to lose a lot of money. Instead, if you're looking for a more secure option, you can't go wrong with valuable collectibles. One of the most lucrative markets to invest in is art. But before you dive in, make sure you do your research first.
Know Your Artists
It's very easy to get ripped off in the art industry, especially if you're green and don't know what you're looking at. Some artists are good at faking famous prints --- so good, there are stories about forgers
who got away with selling fake pictures for ages and lived the life of luxury while doing so. Even the best forgers weren't able to exactly duplicate paintings or artworks though, there are always little tells. But, to avoid falling into one of these traps, make sure you familiarize yourself with not only the artists you like but also their painting or sculpting styles. The more you know, the easier you can spot fakes, even if most others can't.
One of the easiest ways to dip your toes in the market, so to speak, is to attend an auction
. It's a good means of getting the lay of the land, and you can see what artwork is going for and who the major buyers are. While some people professionally source art for others, many go to add to their existing collections.
Another way to score original paintings
is through fine art dealers. They have access to some of the most rare and collectible art pieces currently available for sale. They also have a wealth of experience and knowledge on the subject.
Some auctions and art sales are so elite that the only way to gain entry is to make the right connections. If you know someone who already collects art, this is a good place to start. Talk to them about your interests, what it is you have your eye on and ask for any tips that could start you on your way to investing in your choice of artwork. If you don't know anyone who shares an interest, then the best way to make connections is to visit galleries and auctions and initiate conversations.
Another way to get involved in collecting is to commission a piece directly from an artist. It may be a while before a popular artist can actually take on a personal project, but many do work directly with collectors for one-of-a-kind pieces that are truly the buyer's own. One way to reach out is to contact them through a gallery where their work is on display or through their agent. This information may be available through the gallery or perhaps through an artist's web page.
Investing in timeless art pieces is a great way to put your money to use. Plus, they make excellent statements for your home or office and are sure to spark conversations among other art lovers. Make sure you do all your research before buying your first piece. This involves getting to know the artists and their mediums and attending the local auction houses, dealers or galleries. Collecting artwork is a favorite pastime for many, and most find that when they start, they simply can't stop --- the next addition to their collection is always on their mind.