One of the main reasons for investing in art is aesthetic pleasure, as art enthusiasts tend to collect a variety of works according to their style, author, historical value or symbolism. This also represents a good way to earn money in the long term.
According to Artprice data, by 2021, half of all artworks will be passed on to new owners for a value of less than $1,000. However, experts say that, over time, these works will appreciate in value and become a windfall for their owners. To get your hands on a worthwhile piece, it is recommended to visit galleries such as Lanzarote Art Gallery International Fine Art.
Why invest in art for financial gain?
Globally, buying the work of emerging artists can be compared to investing in shares. Within the art market it is possible to talk about profitability, asset valuation and even risk profiles. Unlike other assets, art does not lose value as it passes from hand to hand. On the contrary, over time it can acquire much more prestige and value. For these reasons, acquiring a work of art does not only mean having a new decorative element, but also owning an asset that can be resold at any time at a good price.
Moreover, by buying these products it is possible to collaborate with the art and artists of each locality, making their works, and in general the local art movement, more important.
How to determine the value of a work of art?
Experts recommend that the first aspect to take into account when buying a work of art is the artist himself. The buyer should identify who the artist is, what his or her history or trajectory is, the range over which his or her works have been valued and his or her presence in the market, among other similar elements. This can be achieved by calculating an average of all the works he has sold.
Other factors that can be considered are the date or the general context in which the work was created. It is also important to consider its provenance, state of conservation and authenticity. One thing that can make a big difference is whether it is a unique work or whether there are others similar to it. The fact of having received good or bad reviews, more or less attention in the academic or commercial world, can also influence the final price of a piece.
Therefore, it is recommended to do some research before buying art. Visiting different galleries and exhibitions is a good way to familiarise yourself with the market and get to know the current trends. At Lanzarote Art Gallery International Fine Art, a visual artists’ agency based in the Canary Islands, it is possible to access a wide range of works by talented international artists. It is an interesting place where you can find artistic gems that will add to your buyer’s wealth.
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