In a lot of scenarios, the question of where you buy art is as important as how to purchase it. Art investors have a number of options as to where they can buy pieces that will provide sizeable returns.
Places Art Investors Should Look to Buy
Consider questions such as whether or not you prefer paying for a fixed price or bidding for art at an auction. Should you go visit and look at galleries or would you go to a small dealer who offers better choices for each individual?
Whatever your objectives are can make a difference in price tags. There are several ways you can invest in the art world and here are just some of them.
- Invest through art fairs. This is a good place to start for a newbie investor to develop an interest or an eye for art. There is something for everyone, whether you’re just a beginner who wants to start diversifying your portfolio, or an expert. When you go to art fairs, you can mingle with other enthusiasts, browse pieces of work, ask questions, evaluate pieces and compare prices. There are some opportunities at fairs that can be on par with the artworks at the most prestigious auctions or galleries. You can check out the date and time of your local fair in the art section of your local newspaper or browse online.
- Peruse art auctions. Going to auctions can be quite exciting, especially if there are bidders who are interested in the same piece. If you choose to buy art at an auction, be sure not to get caught up in the moment and the adrenaline rush that auctions bring. Bid on pieces based on their value. Investors and collectors need to weigh in several factors such as pricing, condition, and value of the art to make educated, reasonable bids. There are a lot of small auction houses that may be near your area. You can search with keywords “local art auctions near me” and see what it pulls up. If this is the way you prefer investing in art, you will need to be aware that when you bid for an artwork, the final price you’ve bid for is not the full price yet you will pay. There is typically a buyer’s premium which can range from 10 to 30 percent on top of your final bid.
- You can buy art online. The internet gives you access to a wide variety of information, including places you can buy pieces of art. Aside from doing research, check out your nearest gallery house and consider networking with other art investors. They may even be able to direct you to where you can buy online. If this is the avenue you wish to venture in, Masterworks is a great and reputable online platform for you to invest in art. Whether you’re just starting out or already a seasoned investor, you can invest in blue-chip art pieces with just a small amount. There is no high top-up in purchasing online, unlike in auctions or galleries.
These are just some of the few places you can consider if you wish to pursue art investments. If you are considering becoming an art investor, be sure you do all of your homework and get to know your options before making any large investments.