The Art Buyers Guide #2
Philip Earnhart - Royeal Mutiny
I meet a lot of people who would like to sell their art collection and are very disappointed with the valuation…
After asking a few questions and sharing some quick search information from public auction data bases, as well as other examples of the same work, they often get very disappointed. Typically because it’s worth less than, or similar to, what they originally paid for it (which is good anyway if you ask me!).
I then ask why they bought the art in the first place… then I find out it was a nice story of a couple falling in love with an image in a nice gallery window and deciding to splurge and get it for their new home. I love ‘the story’ it’s my favorite question to ask!
My point is, that there is no mention of investment. So why the unrealistic expectations of value all these years later? Lay cultural information out in the ether tells you art from a gallery is good and valuable. Even the sales rep will probably support this viewpoint to make the sale. The older the better like wine? Not true in many cases.
That’s why, In today’s edition of the art buyers guide, we are going to discuss buying art with the idea in mind that it can be an investment and often isn't.
I’m not aiming to teach you how to buy art for an investment, but rather how to know what you are getting into when buying art you love and helping you set your expectations for the future.
‘At inconspicuous, we aim to provide art directly from emerging and established artists alike, to enable you the opportunity to speculate at both ends of the scale safely.’
Art you buy because you love it VS art you buy because the market loves it and you can make some profit in the future; We straddle the two.
We sell art which is objectively worth what we sell it for if you were to resell it now, and which is expected to increase in value in the future.
So how can you tell what you’re getting into?
Follow this simple checklist and you can’t go wrong:
Decide there and then if you care about the purchase as an investment. If you don’t care, disregard the next steps and enjoy your art!
If you’re here, you at least want your money back if you were to sell it right?
Avoid mass produced art. This is anything outside of an original work of art or a limited edition smaller than 200 unless the artist is a household name. I’ve been amazed at how inexpensive some artists work can be for the quality.
Check up on your artist, are they positively interacting with the world around them? Don’t back an artist who’s personal journey and vision doesn’t align with your intentions. This really references artists like the beloved Shepard Fairey, who is, in-and-of-himself, an activist, who expresses himself and his beliefs about the world through readily available media like prints, clothing, murals, and many more. His work is stunning but it is not hard to obtain, expensive to buy, or targeted at the type of people who will pay large sums for his work. So the investment aspect doesn’t make sense.
Limited editions: If your artist is not well known at the time of purchase, the odds are extremely low that your investment will pay off. Therefore go for an original work if possible, the artisan value is often there to get a resale in the future if not the reputation. If your artist is well known, the print just needs to be a limited edition smaller than 200 and signed by the artist. Original certificate of authenticity included. Buy something unusual where possible, something with a notable story or inspiration in time. Art is a cultural commentary of the zeitgeist!
Example 1, I bought a punk art portrait of The Queen before she died from artist Illuminati Neon (Mark Sloper). She had seen the work and given it her blessing before she died! A newspaper story came out about it the day I bought it! I paid under 1000 GBP for it and it is worth 3 times that only 3 years later.
Example 2, Mr Brainwash Long Live The King, was the only limited edition print I would invest in from this particular artist for investment purposes. Why? Because it is a time based limited edition of the new King Charles! It was available during his coronation and if you didn’t order one then you didn't get it. The supply and demand variables are present. I got 8 times my investment back at auction less than a year later! You get the idea.
Give yourself the best chance of a return by keeping the purchase price down as much as possible. Shop around typing in the same title and checking for the best price for the work. Maybe one place does free shipping, and the other doesn't?
That’s enough to digest for now! Need a hand with a purchase? Don’t hesitate to reach out.
Yours,
James