The Appreciation of Art                                                                                        1/08

If you are one of the thousands of people who have money invested in the stock market or real estate, you no doubt find yourself with a smaller gain than you expected.  This is certainly disconcerting, but the financial houses like the ones in the over inflated real estate market, were built of cards and a gale force has come and blown them down.  It may take a while before people adjust to the idea that their theoretical money is now less than they’d counted on, even longer to rebuild their financial empire, but people with money are resilient.  The smart investors are already poised to snap up the bargains that have hit bottom.  It's a proven strategy.

Meanwhile, there is another market to put money in besides real estates and stocks--Art.  It is a perfect time to invest in buying that piece of art you've been looking at.  Prices are only going to move up as the economy rebounds from this crisis.  You may find artists and galleries more willing to negotiate discounts in order to do business.

Recently at Sotheby's auction inNew York, sales were far below expectations.  Sellers and Sotheby's both took a hit with savvy investors benefiting from lack luster bidding.  In an article published November 11th by the New York Times, Tobias Meyer, the head of Sotheby’s contemporary art department said prices had rolled back to 2006 levels.

Aside from the investment potential of a piece of art, it is important to buy works of art that you truly appreciate -- It’s all about your connection to the piece.  Art should be purchased for your enjoyment.  Of course, if you buy a work of art by notable artists such as Picasso or Brancusi, you are dealing with a commodity that may appreciate to a greater level.  It also costs a small fortune to buy work from such masters.  Be careful with these high dollar investments, as many have appreciated like the real estate of five years ago.   They are worth whatever someone is willing to pay.  The price paid for famous works a mere three years ago may not be garnered again in the near future.

You have to ask yourself what your motivation to buy art is.  Do you want it because it will impress somebody?  Do you want it because you have a blank space in your home? Or do you want it because it moves you?  As an artist, I would rather someone buy my work because he or she is moved by it.  There is no greater honor than that.  Not even money feels the same as genuine appreciation for what I have to say.

And if finding a piece of art you love isn't enough, consider the human factor.  Artists are people who create for a living.  Their product is soulful and often immeasurable in terms of social value.  We owe it to the greater good to continue supporting artists by purchasing their work.    

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