Beyond Pretty Pictures
A Lay Person looks at Art as Investment
Vincent Van Gogh is a vivid example of the quintessential painter- talented, tormented, struggling with his work and unappreciated in his time. Even when he was most confident about the value of his art as Art, Van Gogh had little faith in his appeal to a larger audience. He felt his paintings would be appreciated by those urban people who “retain unfading impressions of the country, and remain all their lives homesick for the fields and peasants.” As he said “…what I do is not saleable … but it can be sold to people who buy things because there is nature in them.” Elsewhere, he complained about the tight-fistedness of ordinary art lovers and that he would have to work cheaply for a wider audience. Very ironic indeed for a painter whose Irises sold for £ 27 million in 1987 and whose work enjoys universal recognition and appreciation. The story of Vincent Van Gogh is the most well known, but in different ways; the story is retold whenever we talk of successful painters and their path to fame. M.F. Husain, our famous barefoot painter and his beginning as a painter of film posters is a case in point. Even India’s premier, abstract painter Jehangir Sabavala, recalls his days of struggle and is amazed that art prices have risen beyond recognition. While we feel for their pain, what the investor in Art would really like is to meet up with his or her own Vincent Van Gogh – undervalued when it comes to buying but with the potential to sell big.
Art is big, these days. There is a lot of money floating in the market and with prices for art going sky high, the big investors are circling the waters, hoping for a kill. In this situation, with auction houses like Christies and Sotheby’s coming to India, the mushrooming Indian art galleries and so many people looking at art for investment purposes, can the small investor think of art as investment? We should also keep in mind that the penniless painter of yesterday has in many cases, morphed into a media savvy painter who knows what his paintings are worth. So, forget all hopes of a Vincent Van Gogh like masterpiece in the attic. Money for nothing in Art is not possible today. One option suggested is to look at new work by budding artists. In fact, curator Sandra Khare, Birla Academy of Art, Worli, looks out for new art during her backpacking travels around India. In the near future, during the monsoons, many galleries in Mumbai are putting up exhibitions of students and new artists.
Before you invest in Art, visit galleries in your city. Look at art sites, read up about artists and look out for news about Art. Decide what kind of art you want to invest in and set your limit. Do not look for instant returns. Keep in mind that what you pay for your paintings should factor in how much you, personally, like it; the artist’s present market value and perhaps, what a more learned art aficionado feels would be his value in the future. Size matters, the larger the painting, the more the cost, If you have a good eye and are prepared to wait for a bit, a painting you buy should seldom sell for less than what you paid. If you do decide to splash out and buy an expensive painting from one of the known names in Indian art, ask for a certificate of Provenance from either the painter or the gallery from where you buy. In today’s environment, where there are a number of fakes floating in the market, you can even get your painting certified by the painter.
Also, look at other types of art for investment: Good quality Tanjore paintings, Moghul miniatures, even Tibetan tankhas can appreciate in value. Lithographs, which are prints made by the artist are a cheaper way of investing in known names. There are a limited number of lithographs released and their value can also appreciate. One question which affects those who buy Art as investment is: does recession affect the price of a painting? It depends, during recession; the value of money may seem lower, thus pushing up price of paintings.
Remember, even when you invest in Art, you want something beautiful on your walls, something that moves you and does something for you. If you can have all that and profit, too, you are ahead of the game.
A Lay Person looks at Art as Investment
Vincent Van Gogh is a vivid example of the quintessential painter- talented, tormented, struggling with his work and unappreciated in his time. Even when he was most confident about the value of his art as Art, Van Gogh had little faith in his appeal to a larger audience. He felt his paintings would be appreciated by those urban people who “retain unfading impressions of the country, and remain all their lives homesick for the fields and peasants.” As he said “…what I do is not saleable … but it can be sold to people who buy things because there is nature in them.” Elsewhere, he complained about the tight-fistedness of ordinary art lovers and that he would have to work cheaply for a wider audience. Very ironic indeed for a painter whose Irises sold for £ 27 million in 1987 and whose work enjoys universal recognition and appreciation. The story of Vincent Van Gogh is the most well known, but in different ways; the story is retold whenever we talk of successful painters and their path to fame. M.F. Husain, our famous barefoot painter and his beginning as a painter of film posters is a case in point. Even India’s premier, abstract painter Jehangir Sabavala, recalls his days of struggle and is amazed that art prices have risen beyond recognition. While we feel for their pain, what the investor in Art would really like is to meet up with his or her own Vincent Van Gogh – undervalued when it comes to buying but with the potential to sell big.
Art is big, these days. There is a lot of money floating in the market and with prices for art going sky high, the big investors are circling the waters, hoping for a kill. In this situation, with auction houses like Christies and Sotheby’s coming to India, the mushrooming Indian art galleries and so many people looking at art for investment purposes, can the small investor think of art as investment? We should also keep in mind that the penniless painter of yesterday has in many cases, morphed into a media savvy painter who knows what his paintings are worth. So, forget all hopes of a Vincent Van Gogh like masterpiece in the attic. Money for nothing in Art is not possible today. One option suggested is to look at new work by budding artists. In fact, curator Sandra Khare, Birla Academy of Art, Worli, looks out for new art during her backpacking travels around India. In the near future, during the monsoons, many galleries in Mumbai are putting up exhibitions of students and new artists.
Before you invest in Art, visit galleries in your city. Look at art sites, read up about artists and look out for news about Art. Decide what kind of art you want to invest in and set your limit. Do not look for instant returns. Keep in mind that what you pay for your paintings should factor in how much you, personally, like it; the artist’s present market value and perhaps, what a more learned art aficionado feels would be his value in the future. Size matters, the larger the painting, the more the cost, If you have a good eye and are prepared to wait for a bit, a painting you buy should seldom sell for less than what you paid. If you do decide to splash out and buy an expensive painting from one of the known names in Indian art, ask for a certificate of Provenance from either the painter or the gallery from where you buy. In today’s environment, where there are a number of fakes floating in the market, you can even get your painting certified by the painter.
Also, look at other types of art for investment: Good quality Tanjore paintings, Moghul miniatures, even Tibetan tankhas can appreciate in value. Lithographs, which are prints made by the artist are a cheaper way of investing in known names. There are a limited number of lithographs released and their value can also appreciate. One question which affects those who buy Art as investment is: does recession affect the price of a painting? It depends, during recession; the value of money may seem lower, thus pushing up price of paintings.
Remember, even when you invest in Art, you want something beautiful on your walls, something that moves you and does something for you. If you can have all that and profit, too, you are ahead of the game.