What are the most basic requirement to get started in original artwork investing?
Your first thought is probably the need to have large quantities of money. One piece I love at a New Hope Gallery is priced at $30,000. I have neither the money or house big enough to hold it. Not all art costs so much however.
There are a lot of emerging artist who are creating artworks that in time will become worth more and more money.
Prices could start in the hundreds to just a few thousand. To start investing, you first need to understand a few aspects of the art world.
The first question to deal with is what is the Original Art Definition part of Original Artwork Investing.
Note A little honesty and humility are needed to consider this. Humility in that each of us needs to recognize our limitations. Where we are lacking, we will need to look for the experts of the field to guide us. Honesty is something we need to be with ourselves.
In visiting a friend and their proudly displaying a recent acquisition, they were announcing to one and all that it was an original painting. At the best it was a giclée print. She told how much she paid and didn’t want to hear that it was not an original.
Originality has a definition in a social context and in a legal setting.
It is typically defined as a created work of art that is a new or novel design. This is compared to reproductions (as in prints) derivative works, and forgeries.
It is an ambiguous definition.
NoteConsider an artist that copied an injection molded plastic model kit. The parts come on a plastic grid and you twist the parts off the grid. He created a life size imitation of it with real car parts, including a transmission, drive shaft and the like. Is this a derivative or an original?
The concept is original to that artist. If another artist came up with an entirely new configuration based on this design it could fail to meet the originality requirement.
As a legal concept, originality allows for copyrighting. This assigns ownership of the art to the original creator. If in your original artwork investing you later find out several prints were made of your piece, it is because the artist owns the copyright. He has the right to make copies.
If you want to buy the copyright you may but it could be quite costly.
There is occasionally controversy as to whether a photograph of a copyrighted piece of work can be published. A photograph can be legally considered a derivative of the original in some circumstances.
Generally speaking, originality includes content and design and style. Something truly original when purchased will have a greater possibility of increasing in value. Many top galleries will guarantee that the art you buy will increase in value or they will buy it back at the price you originally paid for it.
Not too many other investments have that kind of guarantee.
Make your choices based on what you like.
Choices like design, colors, and style, consider the same criteria for selecting prints or any other kind of art.
- What can you afford?
- What do you like?
- What speaks to you?
- What works in your setting?
The bottom line, invest in something you like and can enjoy. Then it is a great investment regardless of whether you choose to cash it in or pass it on. Your enjoyment of your original artwork investment is a dividend in and of its self.
To learn more about original artwork investing next go to...
Art Framing Framing is an essential element of investing and collecting art. Matting will not apply to your original oil on canvas, acrylic on canvas and others but they are covered for your benefit.
6 of 8 parts on collecting and investing.
Go to the Start...Part One of Art Investing Historical facts and considerations why art is a great investment.
1 of 8 parts on art investing and collecting.
New June 2018