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Investor Canada
Investor Canada  

As of Monday February 2, 2004 02:37 ET


Thursday, August 29, 2002

Investing in Art

Interview by Donna Guzik

If the wild ride on the markets is sending you in a tizzy, why not consider investing in artwork? Not only can it turn a profit with a few simple brushstrokes, but it's a lot more fun to have on your wall says Biddington's Inc. President Sharla Bailey Kidder

| Summary | Transcript | Click to Listen |

"It's a lot like buying in the financial markets, you want to buy something that's on its way up and that hasn't peaked."

  • Biddington's Inc. is an auction marketplace where outside sellers can offer pieces for sale on their website,

  • Most of their focus on contemporary art in order to offer up-and-coming artists exposure to the market.

  • If you know what you like it is a good idea to ask an advisor what the best pieces and who the best artists of that genre are and they will help you find what fits your needs.

  • If you are looking at artwork as an investment it is important that you buy something that is art, that has an edge to it and isn't simply decorative.

  • If you buy properly, over time you could make roughly a 5% per-year return on your investment.

  • Investing in art can be very similar to investing in the stock market.

  • Buy work by an artist who has a good gallery track record and a decent resume.

  • Pay attention to artists that are trendsetters and are growing as artists and in the context of the genre they are in.

  • Much like investing in financials, you don't want to buy a piece of work at the peak.

  • There are a few simple rules to keep in mind when investing in a piece of art.

  • Buy items with paper trails and proper authenticity documentation.

  • Buy items that you love, because if the work ends up depreciating in value, you'll have a piece on your wall that you enjoy.

  • You don't have to have a lot of knowledge about art in order to invest in it, what you need is exposure and to have your homework done before you make a purchase.

  • The longer you hold onto a piece of artwork, typically the bigger the return on your investment.

  • However, if an artist is receiving a lot of attention but the work isn't very good, the piece could disintegrate in value substantially.

  • So it is at times better to sell into hype and publicity, even on high-quality art in order to turn a profit.

  • Invest sensibly, don't be a creature of fashion and try to anticipate the forward momentum.

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