Over the centuries, art has been hailed as a great creative reflection of past times, a record focusing on certain aspects of society in that particular time.
More and more in recent years,these records by highly regarded artists throughout the past have become seen as invaluable and almost priceless items. I say, ‘almost’ priceless, because as we often see in some of the world’s great auction houses, works of art selling for incredibly high sums.
How difficult it is to place a value on an original unique piece of art that is the only representation of a certain scene during that period.
Fashion does have a part to play in the increase or decrease of a painting. The most susceptible type of work to ‘fall from favour’ overnight is modern, or contemporary work. From the investor’s point of view timing is absolutely critical when buying or selling a piece of this art. As we have seen, a contemporary painting valued at over one million pounds can sometimes be sold for a mere fraction of that figure when the fashion changes and the work is regarded as ‘old hat’.
The safest, and probably the most sensible approach to investing in art is to consider artists that have a proven track record for many years. Not simply a local or national artist that has been heavily promoted by the publishers for a short period of time, who then drops into obscurity within a matter of years. But an artist whose work is seen in many public galleries throughout the world and has had an extremely successful career, an artist who’s work is collected by knowledgeable members of the community, and is held in high esteem throughout the art world.. The work by these artists are definitely the most collectable, as they will stand the test of time and have something of real value to say to their observers. » Read more: The Value of Real Art