Investing in Art – The Perfect Mixture of Business and Leisure
As a professional from the world of investment, I can’t help but be drawn in my potential opportunities for investment and although many of them are only of any interest from a business perspective, there is the odd occasion when the chance to invest in a passion could also be a great idea from a business point of view.
I’m Yomi Rodrig and for many years I have had a keen interest in contemporary art, whether that has been researching artists and their work or visiting exhibition and galleries around the world, but over the last 10 years I have also looked at where it is possible for me to turn my attention towards investing in art instead of just enjoying it.
I have a few key artists I like to keep my eye on, but as a whole, I tend to invest in what I like, whether it be from an infamous artist or not, and over the last 2 years in particular I have extended my art collection, partly to furnish and brighten my home but also to have something to show for my investments.
As with many art lovers, many of my favourite artists are the very well-renowned ones, I have a real interest in Asian contemporary artists as I believe they have a style that is very well-received by people of all ages, making their pieces both great for displaying in my home but also reliable investments as you can pretty much guarantee they’ll have a good resale value when the time comes. Yayoi Kusama and Takashi Murakami are both Japanese contemporary artists, Kusama was born in the late 1920s and Murakami in the early 1960s; both artists have spread their work across multiple different genres, including paints, sculptures and fashion designs, but the theme of their works are quite similar, always incorporating a sense of excitement and vibrancy.
The other artist I would consider to be in my top three is of a very different style, Rudolf Stingel was born in Merano in Ital but relocated to New York to continue his work. His theme is completely different to what I mentioned above. In complete contrast, his work is usually monochrome and understated, leaving the viewer actually wondering what it is the piece is trying to represent. Although his work may be a little more subdued than that from the Asian art world, Stingel’s unique concept of using unusual materials such as cork and carpet in his work makes them highly worthwhile investing in as he is one of the best artists in the industry for this technique and it helps his work stand out.
Investing in art for any enthusiast is the ideal situation and the perfect mixture of business and leisure; not only do you get to put your money into something you really love, unlike many investments you’ll actually get something to show for it while you have the pleasure of displaying it. From a business perspective and thinking of using your money wisely, art is a great safety net for your money as it is massively profitable, it is rare that artwork won’t appreciate in value when kept in good condition.
No matter how much you like a piece, buying a copy is never a good investment but merely a purchase as you’ll never make money back on a copy as the value is far lower. If you’re going to invest in art, you need to be buying original or one-of-a-kinds because that is where you know your money will be safe and slowly growing over time.
Make sure you also know about the artists you’re buying from. When it comes to reselling, having a good knowledge of the piece and the article can increase the appeal of the piece to a potential buyer and seal and deal.
Whether you invest to keep or invest to sell, putting your money into artwork is an ideal situation for any art lover and one that could be a clever move.