|
Superannuation With a View
It wasn’t that long ago you could spurt the saying “starving artist” and know you could find a piece of artwork, throw the artist a bit of cash so they could eat or pay the electricity bill, and you were the winner. But since the explosion of the 80’s excesses of corporate spending, that person standing next to you in the latest designer clothes and talking on his mobile phone to his investment broker could be in fact that artist.
The art world of high price tags and symbols of status has always had an essence of mystery and closed doors but the face of this institution is changing and has never been more accessible for the average person to invest in.
The word investment means – property or possession acquired for future financial return or benefit- A commitment as of time or support*.
Your art is an asset, but can you bank on it? We know our money is safe in superannuation funds (that is of course if they don’t go belly up from the CEO’s spending too much on their own excesses) but people are looking at alternatives for their future.
Real Estate has always been a bankable option and now art is creeping up behind. Art is now a commodity and you only need to read the art pages in The Age and The Financial Review to know that it is talked about as a blue-chip investment that goes into the millions but there are just as many loses as there are wins.
Those ones aren’t as readily written about but I think the biggest loss of have heard of recently was an American Las Vegas ‘mogul’ who had just sealed a deal for $139 million US to sell his Picasso painting, The Dream, and put his elbow through it forcing him to keep it and have it repaired severely lowering its value for the future. It sure beats the story of breaking mum’s favourite vase while playing cricket in the hallway.
So how do we get to these large prices? Who puts the price on them?
There are many factors that come together that drive the price. The quality of the work will always be a major point, the health of the economy, the scarcity of the artist work, controversy, good marketing and if the artist is still alive.
There are major artist that commanded very good prices while they were alive like Picasso, Brett Whitely, Pro Hart, Sidney Nola and Arthur Boyd but their value took a serious upward turn on their deaths.
There are also the true artists we respect today and see their work every where. Think of Munch’s The Scream and Van Gough’s Café Terrace at night and Sunflowers, but their lives were marked with poverty, controversy and some say insanity – the true starving artists.
  
How can I start a collection?
We’ve all heard those brilliant stories of people buying a piece of artwork for $20 at a garage sale or even a car-boot sale go to get it re-framed and discover they have an original that is worth thousands of dollars. All you need to do is watch The Antique Road show to find very excited and bemused English people of the value of their home collections.
Yes, its confession time- I love it! I get so much joy from the ‘stiff-upper’ English people who bring along a tattered and beaten teddy they saved from the kids toy box and now find it is a limited edition collection worth $30,000 pounds and all they do is raise their eyebrows and let out a very subdued, ”oh”. I just imagine them walking back to their car, getting inside and give themselves a little arm pump and let a loud “YES” and then look around to see if anyone saw them as they gain their composure.
The aim is to stumble on that piece or discover that artist before everyone else that people will be fighting over in the next ten twenty years.
There are no guarantees of course but here are some tips to get you started
- Register at your local art galleries and go to their opening night. Not only will it be a great night out with friends as you saunter around the gallery sipping champagne and having catered nibbles but you will see what is out there and what prices artists works are going for.
- Meet the artist and find out what their objective was to the collection and why it was created. This will give you a greater understanding at how you perceive the artwork and you may discover elements you couldn’t see before.
- Buy the dearest in the collection on the night. You can pick up some great works for around $250 starting price, but stretch yourself and seek out the biggest price tag. It is always better to have one great one than four good ones.
- Look at alternative art other than painting. There are many forms of art that art becoming very collectable and do go up in price. There is photography, sculpture, jewelry, multi- media and even fabric.
- Limited edition prints can be a great entry point. These go up in value when an artist sells the original for a great price. There are lithographs (always go for the lowest number in the series), digital prints and silk- screen prints for variety of mediums
- Look at artist run spaces as you wont be paying high gallery prices. There are many artist collectives who share studios and galleries to get themselves started and noticed and hoping a savvy art dealer will be impressed with their work and take them on so try and get in first
- Research the major auction houses such as Sotheby’s and Christies and keep an eye on who they are selling at the lower end, these places know their art and artists
- When you are ready to get serious contact and art adviser to help you build your collection, you will be gain considerably from their style and knowledge
- Most of all be passionate about your purchase as if it doesn’t go up in price you want to still delighted by it. Make a connection with the piece and look for the personal feeling it sends you.
When you are serious about investing in art for your future you need to treat it as project. You won't always get it right so make sure your pieces are bought for your pleasure as much as anything. Keep an eye on the artist’s career and see if their pieces are going up in price over the years and just hope you out live them!
Written by Shaynna Blaze-Vaughan
www.blankcanvasint.com
Sites of interest
www.jackmangallery.com.au
www.sotherbys.com
www.christies.com
Pictures sourced from
http://news.bbc.co.uk & www.vangoghgallery.com
* Meaning taken from www.yourdictionary.com
|
