art investment

Investing in art is a great way to save money for a rainy day or pass down something substantial to future generations! Once purchased and affixed to a wall, an art investment painting will require little maintenance in order to appreciate in value. It’s hard to predict trends, but one thing is for certain, no matter what the country’s economic situation may be, people’s love and appreciation of art and attendance at art auctions have not diminished. However, one should understand a few rules of the game, such as bidding practices and categories.

One category is the estate sale. You can often find great bargains here since purchases are made directly and most of the items from a deceased person’s estate must go. Recently, a woman in Canada found out that the painting she had selected from her grandmother’s estate sale, when she was ten years old, was actually a $300,000 original painting! Now you see why they sometimes refer to art as “treasure.”

At consignment art auctions, artists showcase fine art for sale in a gallery atmosphere without the pressure and high stakes of a bidding war type auction. Many people enjoy this because it reminds them of a Sunday stroll through a local museum. Only, in this case, if you find it, you like it, then you can buy it too! Sometimes the consignment fees may be high or the commission isn’t fair, although generally it’s not a bad place to dig.

A third category is the art auction house. These established buyers and sellers at fine art auctions wheel and deal pieces for a living. They’re the middle man connecting art lovers and artists. Patrons attend these swanky events in big cities around the world, dressing up, sipping wine and schmoozing with fellow art lovers. In addition to perhaps finding a famous oil painting for sale, some rare works and getting a great selection, you’ll love the social aspect.

Lastly, you can participate in an art auction online. At iCollect.com, you will see a list of all the upcoming eBay auctions. If you’re fortunate enough to live in a big city, like New York or Paris, you’ll have no trouble finding a local auction to partake in! For everyone else, the online auction is a cost efficient solution with a wide selection. On your home computer, you’ll be entering bids on your keyboard, while the auctioneer reads them aloud in real time off a computer screen.

Art auctions can be a blast! To get the most of your experience, bring a spouse along or go with a group of good friends. It can be a riot to share your interests and play “show and tell” at the end of the night. Who paid $1 million for the Matisse? Who got the deal on the watercolor art? It’s a wonderful social gathering idea, especially when the auction houses provide snacks and wine, as they sometimes do.