Art Investment Strategies: Great Artist or Just Great Painter
I think that one of the most important questions you should ask yourself when looking at investing in an artwork should be “is the creator of the artwork a great artist or just a great painter (or sculptor, drawer etc.)??”. The reason for this question is simple, there are plenty of extremely good painters, drawers, sculptors out there whose artistic careers may never venture beyond what may be considered a hobby. So with an art market that is driven by many factors other than aesthetics, merely buying an great painting by an amateur or hobbyist artist is very unlikely to make you any money in the future.
If you are purely interested in the aesthetics of an artwork then the term great painter and great artist are interchangeable. But as soon as you start looking at an artwork from an investment point of view the definition of a great artist has to change because in order to make a good investment decision you need to be able to make the distinction between a great painter and a great artist. If you are unable to identify the differences between a great painter and a great artist for the purposes of investment then the risk of making a bad investment is much greater.
In order to make a good investment in art you need to be able to remove any emotional influences and look purely at the likelihood of the artists work increasing in value.
Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.