Invest in art and build a portfolio
If you are looking to invest in artwork and want to enjoy this over a period of time, then it is a good idea to spread your investment (as we will call it) over a number of artists that you enjoy and will want to see their works hanging on your wall.
Art is not for everyone. You have got to be able to enjoy it. You do not necessarily have to be good at it (and I am certainly not good at it) but I do appreciate other people’s perspectives and outlooks on life and how they create and interpret their own lives onto canvas.
Some artists are quite traditional in the way that they produce their artwork, such as Timmy Mallett, who shows a flair and interpretation of the old masters that he enjoys. A lot of his work mirrors that of Monet. Other artists however go a completely different way and offer pop art, such as Lhouette, who is currently flavour of the month in the art world.
There is only one thing to remember to avoid with artwork and that is not to get carried away with it. If you do enjoy and love it then that is fantastic but, like going into a sweet shop, you have got to put your hands in your pocket sometimes and not do things that are rash. You should keep within any set budgets that you want to work within. These budgets can of course increase over time as you enjoy the art and as you want to improve your own collection, but it is important to stay within your confines.
By way of example, only the other day I was offered a fantastic opportunity to buy a unique piece of art from a brilliant artist. Sadly, it was just too much for me to spend. The piece itself had a value of £15,000, which is an awful lot of money and far more personally than I would put on as a ceiling for purchases. However, despite my reluctance it did have huge potential. The particular artist and piece involved would probably mean that in the next 5 to 10 years the value would have escalated from £15,000 to closer to a six-figure sum! However, despite knowing this (and of course whilst it is not guaranteed) I had set my own perimeters on how much to spend and I will always suggest that other people also do this, regardless of whether they love the artists and whether they believe it is going to be a fantastic investment because, ultimately, nothing is a certainty and it is all about having some control.
Having art that you enjoy and are passionate a
bout is important and you should keep this in mind when investing and collecting your artwork. There is no point in buying artwork from artists where they produce artwork which, quite frankly, is awful and despite any potential for huge growth or value, ultimately it will be personally awful!
Artwork should be something of a personal enjoyment and, as long as that box is ticked, everything else should fall into place. Do not buy artwork just because somebody down the road says it’s going to be a cracking investment, even though you think it looks like a child’s first art drawing stuck on your wall.
Having a few artists in your collection is always very important as it spreads the risk if you are looking to invest in an art collection over a period of time. Some artists will grow in value as they become more popular depending upon their style, whilst other artists will keep a fairly level playing field, namely you will see growth over a period of time but it will not be rapid.
In relation to both forms of art, whether its art that will make you huge amounts of money, or whether its art where it will stay fairly consistent in value, you will achieve the same enjoyment from them if they are artists that you, yourself, enjoy.