Why invest in art?
"Believe it or not, one of the best ways to diversify that portfolio (or make better use of the cash stashed under your bed) is to invest in a product that you can actually appreciate while it appreciates: art."
Heather Jeno (February 14, 2008, Santa Barbara Independent)
1. Because investing in the stock market in this economy might not be such a great idea. You might be much better off investing in an artist whose work you like at an off chance that he/she might become super-famous one day. For all you know that artist might crock any minute and as he/she becomes famous after his/her demise you just might make a killing at Sotheby’s. Granted for an artist to become famous might take a while, so try thinking of your investment as an opportunity to buy a piece of art by a potential Van Gogh or the next Frida Kahlo. Even if you don’t get to enjoy the money from the sale of you painting in your lifetime, your children still might be able to sell it for big bucks. …and if worse comes to worse and the artist you purchased a painting from remains obscure for all eternity you’ll still be able to leave a nice painting to your children.
2. Because if you commission a family portrait from an artist as opposed to making a family photo there is a good chance that the family portrait wouldn’t end up in one of your grandchildren’s attic like many family photos do, but will be proudly displayed above their mental.
3. Because for a price of a few pairs of designer jeans you can buy a painting that you could enjoy for more than one season.
4. Because you can appear sophisticated in front of your friends. When your friend comes by and starts telling you about a wonderful new pair of shoes she bought you can make her sound shallow by revealing that you just purchased a new painting. After that you can proceed to tell her about the artist who painted it and even the story behind the piece.
5. Because art is good for your soul. If you have a piece of art on your wall that you absolutely love you’ll smile every time you look at it.
