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AR Art Collection: Mixing Passion with Business

By Garrett Tarbell Subscribe to RSS | July 20th 2012 | Views:
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The old saying was that prices of artwork go up once the artist of the piece of art passes away. It’s still a standing belief. Just as much as paintings are bought for passionate motives, a huge part of it has economic factors blended into it as art collection is another good form of investment decision. Just like gold, currency or property, its selling prices vary depending on the economic circumstances. Meaning paintings could be sellable at the same used as a credit financing.

At a recent Christie’s auction last May, Ed Ruschas’s Heaven and Hell sold for a little over one million. It had been originally pegged at $600,000 to $800,000 however, not its previous price of just about $1,250,000 as it was used as equity for a bank loan by the owner and was in a rush to dispose it.

What exactly does this all mean? That apart from the aesthetic impact of say gazing at the word-oriented Heaven and Hell painting, there's money in it. Here are a few suggestions about understanding how to put money into art based on Fabian Bocart’s breakthrough of the secret of the fine art industry.

Contemporary Art

According to Bocart, what’s preferred these days are contemporary art. They’re the ones fetching superior price ranges at auctions and bank assessments. Just be sure with their legitimateness as they’re easier to fake than the classic paintings, which will be headline already.

Diversification is Key

Whenever an Andy Warhol price falls, it’s sure to impact the cost of a Basquiat. Painters are categorized into movements so when their contemporary isn't performing very well in the art market, it influences the prices of others in the set.

So key is to diversify your selection. If you have a Warhol, it’s good to have Minimalist works like Mondrian as well from the Renaissance movement. So when the Warhol worth dips in the current market, you can opt to sell your Botticelli.

Diversifying isn’t just restricted to forms of movements. You may also expand into other art items including figurines, ceramics, even momentous literary items such as the scroll used by Jack Kerouac to type his On The Road which sold for 2.2 million dollars.

It’s the Art Not the Artist

Acquiring art, what you’re really buying is the art piece and not the brand name or in this case, the artist’s identify. But many people have been confusing that buying art is all about the artist. You acquire the Campbell Soup Can artwork of Warhol simply because it’s an Andy Warhol painting, or buying a Jackson Pollock even if the work isn’t one of his greatest.

Needless to say there’s impression whenever you say you recently obtained a Pollock. But it’s really all for display. As Abigail R. Esman writing for Forbes put it, “Better to buy a great Wesselmann than a bad Warhol, for instance; the first is far more likely to be liquid than the latter, and will appreciate more over time.”

It’s also good to purchase discount as art prices are volatile. What’s bargain-basement nowadays could be record breaking, headline grabbing price tag the next day. And much like everything pick well in your purchases.

Garrett Tarbell - About Author:
Biltmore Loan and Jewelry provides loans from $100 to over a million if you Sell Jewelry as Collateral. 100% Professional. Sell diamonds today, call for a free appraisal!

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