HOW TO BUY ART AS AN IN­VEST­MENT BE­FORE YOU RAISE YOUR PADDLE AT SOTHEBY’S, HERE ARE A FEW THINGS YOU SHOULD KNOW.

ELLE (Canada) - - Lifestyle -

1. You don’t need an art-his­tory de­gree, but be sure to have some con­text of the work (how rel­e­vant it is to the prac­tice of the artist, what move­ment it’s part of, whether or not the artist has ex­hib­ited be­fore and where — e.g., the Guggen­heim ver­sus a neigh­bour­hood art fair). 2. You might not al­ways make a ton of money. The con­tem­po­rary-art mar­ket (con­tem­po­rary art = art from the past 20 to 30 years) can be quite volatile, says Verna. Auc­tion sales are like bid­ding wars in the hous­ing mar­ket—they can in­flate the price of a work. 3. You don’t have to do it on your own: Art con­sul­tants can guide you on which pur­chases are likely to have the big­gest gains.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.