How Millennials Can Invest In Art with Good Value

Do you have a taste in art? Perhaps you’re just looking for a solid way to invest your money. Art is an exceptional investment that can keep your money safe and give you tremendous returns. However, this requires making smart decisions when choosing the kind of quality art that will give good value for money. So, it pays to have some smart ideas to help you sail through the mucky waters hassle free. Read on to discover the best way to invest in good quality art.

Understand how to determine good value art

Check material

Art comes in various materials including ivory, bronze, particular hardwoods, jade, and era-specific ceramics. However, there’re international import laws and regulations regarding some of the materials used for the antiquities. A good example is ivory art that has been used for centuries. However, the use of ivory in the art industry is strongly regulated to lessen elephant poaching. Therefore, before investing in ivory art, it’s highly recommended to ensure that it complies with legal requirements.

A good consideration to put in mind is the ivory type and age. Investing in mammoth ivory carving from countries such as China and Japan is a good idea. This type of ivory dates way back in the ice age and is a good idea to protect elephants. Similar restrictions are available on art from rare materials such as particular kinds of endangered hardwoods like mahogany. This is to protect such material from extinction and to promote the use of alternative materials to protect those on the verge of extinction.

Condition and display of quality matter

Valuable artwork needs to be in good condition. This varies according to the material of the piece in question. Condition issues that might devalue a piece of art arise from flaws related to the material. This includes loss of paint and craqueleur for paintings. Ensure to check a piece thoroughly to look for such flaws to ensure you don’t end up with a worthless piece.

Other considerations to check for result from the environment where the piece is stored. These include UV damage from exposure to fire, water, or smoke. Be wary of conservators who might conceal this damage to avoid visibility of the actual condition. It’s always a smarter idea to invest in art in its original condition. Art with invisible restorative repairs also has compromised value.

Check art piece provenance

This is the written record of the history of a particular piece. It might include previous owners, origin, and time when first sold. Provence significantly enhances object value and gives concrete and valid proof of a piece’s authenticity. Therefore, a good art collector should maintain detailed record keeping and documentation regarding the various pieces. Details about previous owners give peace of mind that you’re investing in genuine art pieces. It also gives assurance that the piece is worth to invest in with higher prospects of making more in the future.

Dating and authenticity

It’s not easy to correctly tell the authenticity of antique art dating back thousands of years. There’s a chance for the piece not to have a complete record of provenance. The trick is to check for the artist’s signature, mark, or period engraving on the piece. The engraving usually has the creation date for the piece. The more insignia and engravings the art has, the more valuable it becomes. Presence of these engravings also gives any potential investor proof of its legitimacy.

Other handy tips when buying art

• Buy from an online store with a favorable return and refund policy

• Purchase items you like to ensure they retain inherent value in your home

• Read item description explaining preexisting item condition stating current value

• Get familiar with the art of choice and study market trends to avoid getting overcharged

• Ask for a condition report of a piece before purchase to get art that will increase value over time

Bottom line

Apart from enhancing the look of your space where you place them, art pieces make a valuable investment. Investing in genuine and quality art comes with a prospect of earning more in the future. People are likely to begin looking for particular pieces in the future. If you own any of those popular pieces, there’s a possibility of earning more than double from what you invested in those pieces.  

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Created on Feb 22nd 2019 01:10. Viewed 429 times.

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