I know what you think, that investing in art is only for rich people. Well, there are plenty of wealthy art investors, but what came first the chicken or the egg? When considering investing in art: risks, profits & losses a thorough investigation of the market is recommended. Art catches peoples’ eye and especially headlines involving record sales of artworks by famous figures. Artists like Leonard Da Vinci and his painting entitled Salvator Mundi, which recently sold at auction for $450.3 million at Christie’s New York. Don’t you love the way posh English people say ‘oorktion’?
The Risks Involved in Investing
Of course, you may have to start off your art investing career with your sights set somewhat lower on the masterpiece scale. There are risks involved in all forms of investing, whether they be stocks, shares, bonds, or art. You need solid information about the market in all types of investing across the board. The Crown Prince of Saudi Arabia, Mohammed bin Salman, won the bidding war for Salvator Mundi. Yes, the chap who ordered the assassination of the journalist Jamal Khashoggi in the Saudi embassy in Turkey. What a lovely world we live in, where fine art rubs shoulders with the despicable and nefarious. Remember that the art world is full of colourful characters, some of whom will gladly cut your throat for a handsome profit.
Inside Information into The Next Big Thing
Seek out investment advice and options from reputable sources. Those in the know, generally, do better than those who don’t. If you are new to this field do your due diligence before committing any funds. You may be enchanted by outlandish stories of fortunes being made by first time investors, but that is exactly what they are. Unlikely and outlandish stories designed to draw you and other gullible fish in. The art market thrives on what is hot and what is fashionable. Inside information as to the next big thing will see you in the fast lane for returns on your investment in a particular artist. However, very few artists hold their investment value for long unless they are considered masters.
Heed this advice my friend, always do background checks prior to handing over cash or transferring funds. Investing in art may seem colourful and poetic but there are plenty of crooks hanging around the art world like sharks at a whaling station. I remember the smell of the Albany whaling station and that steam powered saw hacking through the blubber of some poor butchered whale. Thank goodness them days are over. Art investing and whaling may seem strange bedfellows but there are bad smells around both professions, so be wary.
