I love original art but, is it a good investment, especially in today's economy? Historically, collecting original art has proven to be a good investment, both monetarily and aesthetically.
If you are considering an original painting purchase, you do need to know that the value of the art will not appreciate 'overnight'.
It may take years for your painting to increase significantly enough in value, to make it a good investment.
But, if the painting is something you really enjoy and it brings you pleasure, you might not want to sell it right away anyway.
Many companies are beginning to discover that the placement of original fine art, in the workplace, actually improves the productivity of their employees, by providing them with an aesthetically pleasing working environment.
Over the years, fine art has out performed the S&P 500 as a long term investment, considering the record sales at many fine art auction houses.
So what are the risks involved? Original art is a long term investment and there are no guarantees that the market will be just right when you are ready to cash in on your investment.
You'll need to insure your art, not only against fire and water damage, but also against theft.
You'll need to be sure that you have photograph documents of your collection, as well as any appraisals, original sales receipts and other documentation that verifies the value of your art.
Like anything else in life, your best gauge of whether or not you think art might be a good investment would be to go with your instinct.
If it is something that gives you anxiety, you might want to rethink the venture.
On the other hand, if you look at a piece of original art and find that it makes you happy, calms you, brings you joy and it's something you would appreciate over the years, go for it.
Original art is a good investment as long as you understand the usual timespan that goes with it's appreciation.