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The world’s top art collector J. Tomilson Hill said – “the value of such collectables doubled and tripled over time.” Report finds investors made an incredible investment in art just like Hill, who bought Andy Warhol’s “soup-can” in 1996 for $340,000, and now the value of the painting is over $9 million. He said, “One should not invest in such items just for the sake of investment.”
These are passion investments bought by personal inclination, but entrepreneurial collectors gather only for growth and higher ROI, and they can buy work from upcoming artists.
Globally, 40 per cent of the collectors work in the fund management area and try to make an intelligent investment – which is part of their job where they seek 4 to 5 per cent of returns through it.
Check what other experienced collectors are holding and what the galleries are providing. Some of the unique works can get extremely high value and can contribute to increasing the whole profile of the collector.
One of the most surprising secrets of such investment is that one should check who the other buyers are. Higher competition from reputable buyers for one piece of collectable gets the most value.
These days technological advancement provides buyers with valuable information where one can check the details related to other bidders attempting to gain the artwork.
One can check the piece of work in high demand and the quality of other bidders – if they are institutional/high net worth investors, or some speculators or short-term traders or flippers.
One can see who else is buying from the group. The ones bought by museums can be valuable. Investors’ can find out about the dealers and develop a critical perspective to filter the huge amount of noise to gather quality information.
Hill said he has always tried to invest in a similar group of artists. It can get him a series of work from the group, which gains in the long run.
In a research report on the global art market index by the University of Luxembourg, it was found that the value of contemporary and post-war art declined over 21%, and auctions of such paintings declined 29%, even though the number of auctions of such painting was high in 2016.
The buyers should have the proper knowledge and be able to keep updates related to global demand as the market is highly vulnerable to volatility and the price of certain items are widely dependent on the sheer luck factor.
Oil paintings can be more expensive than prints and other craftsmanship. One cannot assess the value of such items. The real value remains a mystery as every piece of art is unique.
The fashion and trends change in such areas unpredictably, and a good investment can be made on the terms like if one can get back the invested amount in seven years, it is considered to be a profitable deal.
Some experts recommend holding such items for 10 years, although, sometimes, one can get a higher value of such items in one or two years.
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