| |
MORE
THAN A Piece Of Paper
Aspiring young investors and collectors need to take a look at
five important art buying tips
ART
OF THE MATIER
by Renu Modi
A
few years ago, young buyers investing in an used to ask about
the quality of a painting or sculpture. Now, with the art scenario
having changed so quickly, today's young buyers - be they
stockbrokers, investment bankers, or IT wizards - look at
buying an as an inveStment,. almost in the way they buy and
trade stocks and bonds. \"'hen they ask my advice, I try
to remind them that they are investing in more than a canvas or
piece of paper. I usuaRy tell them the following:
» Deal with a reputed gallery that has
a proven track record. Just as you would examine an investment
advisor's credentials, you should know a gallery's background.
who owns it? Who runs it? How long has it been in business? You
need a gallery that can properly advise and guide you.
.. Once you find a gallery you like and trust, do some research
on the anists they" promote. Try Google or wikipedia.org.
for starters.
.. COIisider your budget and how much you're comfortable with
nding. With an investment of Rs 5 lakh. you can get a basket
of works by reasonably good younger anists;
.. Invest in the works of younger artiSts. Not only are their
works easier to source, they're also less expensive than those
of senior artists. All artists need.
patronage and encouragement:, but younger artists are even more
deserving of your time and attention.
;.. Remember that a work of an is not a stock or bond and that
speculating in the an world can be as dangerous as in the fiscal
realm. It's true that a painting bought for Rs 5lakh can
appreciate as much as 20% per year. And yes, there are people
who buy a painting and then sell it after 3 months, expecting
to make a profit. But consider this - not every work of an will
appreciate in value over the years. Many times, artists are experimenting
with styles and techniques, so their works have different
merits and values.
All right, you've done your homework. analysed your finances,
and are now ready to take the plunge. Pause for a moment and ask
yourself: do you really love the painting (or sculpture)?
Can you imagine living with it for the next 10 years? If not,
then you're not ready. Don't buy a work of an because everyone
says it will fetch 20 times more than its purchase price. Buy
it because you love it. Because it strikes a chord somewhere within
you. Because you can't imagine not having it. As I've said before
think with your head but love with yout heart. This applies
to art as much as it does to the rest of life.
(Ihe
writer owns Gallery Espace in New Delhi)
|
