So, you have some money to invest and you’re not sure what to do with it. You haven’t got enough for a property, and you’re wary of buying stocks. Have you thought about investing in art?
Most people’s reaction to that question is ‘I hadn’t thought of that’. And, unless you are an artist or already a collector, why would you? There’s a myth that you need to be an expert to collect art but that’s just not true. You can either buy what you like and would enjoy seeing in your home, or you can get professional advice.
Lloyds Auctioneers suggest there are plenty of good reasons to invest in art in Australia. As well as the monetary value, there is also the enjoyment, the history and, best of all, it’s a simple investment. On the whole, just like classic cars and fine wine, you can pretty much guarantee that your investment will increase in value.
There’s something else that might also appeal; the government is not involved in any way! When you invest in real estate, for example, there’s plenty of red tape and rules to deal with. With a painting, it’s all yours and if you wish to sell it, that’s completely up to you.
Here are some tips to help you start investing in art:
If you’re unsure what to invest in there are professionals who can help you. This really only applies if you are buying art purely as an economic investment. An art expert can guide you through the process, offer suggestions on what to buy and advise you on important issues like provenance and insurance.
PROTECT YOUR INVESTMENT
Insuring your investment is not something you should skimp on. Arrange insurance as soon as you buy the piece and ensure you have all the documentation you need, including proof of ownership, receipts, provenance and more. The period between purchase and delivery can be a grey area; if you arrange insurance cover yourself you know you’re covered.
Remember, what you paid for the piece isn’t necessarily the value. This means you will probably insure the piece for more than you paid for it. It’s also true that the value is often what someone will pay for it. Another collector may offer you well above the documented value if they want it badly enough.
CARING FOR YOUR INVESTMENT
Some of the most famous art pieces in the world never see the light of day; they are locked away in vaults. It seems a shame not to enjoy your investment, however, so you’ll probably be keen to display it in your home.
There are a few things to consider here including security, location and picture hanging solutions. With an investment piece you don’t just hammer a nail into the wall and hope for the best! Fortunately, professional art hanging systems in Australia are now more affordable and accessible. These are picture hanging solutions that use custom-made track, hangers and adjustable hooks, making it easy to position and secure artworks.
Remember, you don’t want to hang your investment where the sun can damage it, so choose an art hanging system Australia that can incorporate a specialised lighting system. Then just sit back and enjoy!