How not to buy art
May 23 2017
There's a curious article in The Guardian about buying contemporary art for investment. It reads like a PR pitch from an online art gallery (they feature in the piece) and gave the following advice on how to search for 'works that could triple in value':
When visiting a degree show Ryan [of online art gallery New Blood Art] recommends talking to art tutors (make an appointment in advance) and suggests having a coffee with the artists themselves to try and gauge their long-term commitment.
[...]
Investment experts say modern art is an effective hedge against inflation – returns tend to be better at times when prices in the economy are rising, which is the case now.
Remember, AHN says never buy art as an investment (it's very rarely a good one, in the short term), and only buy something if you actually like it. And if you want to determine an 'artist's commitment, buy them more than a coffee.
