Who doesn't dream of incredible works of art on the walls of their homes or offices to wow their friends while adding a splash of colour? That is definitely one reason to buy art, but according to the Financial Times, art is right up there next to prime property in its list of relatively safe investments for global spending. Contemporary and modernist art sales are on the rise and have realised some of the highest profits, but South African art is also making its presence known in world-famous art auctions. In recent years, South African artists have been commanding record prices, even through times of recession, as they find their own unique niche in the international art world.
Unlike other investment assets, pieces of artwork are 100% unique. If you buy an original, you can go to sleep knowing that you are the only one in the world with that particular painting, sculpture, drawing or etching. In this way, the world of art cannot be compared to any other type of investment asset, whether it be real estate, stocks, precious metals or gold.
That being said, when buying or selling artwork on the open market, it is highly advisable to go through an informed broker because the value of artwork, like any other investment, seems to rise and fall according to whims or unpredictable changes in fashion. What is “in” today may be “out” tomorrow, making the insights of a professional a must to see an investment safely through any volatility in the market. An informed decision, made through expert advice and thorough research, can protect your investment and raise your purchase from the level of sentimental decoration for your home to an investment grade piece of art that you can enjoy every day while it gradually increases in value.