Why Invest in Contemporary Art?

At a recent show in Miami, a 30-something well-dressed guy with a hint of NYC prep school in his voice asked me a question that I hear at every show,"Do you think this artist will be a good long-term investment?"

And my answer always comes in the form of series
of questions: "Do you love the artist's work?", "How
does it make you feel", "Could you live with it", "If
you it gave you years of pleasure and wasn't worth
any more than you paid for it, would you consider it a bad investment?"

By now, you probably see where this is going. If you're going to start collecting Contemporary Art by a unknown

artist and your budget is under $100,000, you need to think of investing in art from a different perspective.

If a safe long-term investment is your first priority, then I suggest you consider a CD. If you're an art enthusiastic and want to start collecting but are afraid of making a bad

investment।

Here's a few things you need to consider:

1) First and foremost, does the work engage you, does

it touch you in some way -- emotionally, spiritually, intellectually.

2) Do it seem very familiar, like you've seen it before, or it is unique or distinctive in some way.

3) Is the level of craftmanship or quality of the piece demonstrate mastery of the medium?

4) What does the artist' statement reveal about the artists, his vision and his intent?

5) Where has the artist shown before? Galleries, Museums,
Corporate and Private Collections

6) Who has influenced the artist and who has he/she studied with.

7) Is the artist a "career" artist or a weekend hobbyist?

8) How much can the gallery owner tell you about the artist। And is he/she passionate about art or in just making a sale?

But first and foremost, do you love the work। Can you see yourself living with the work for a long time. Can you see yourself gifting it to a family member or friend. How does it make you feel?

Unless one is collecting a "listed" artist (one that has been sold at auction), or an artist that has been collected and exhibited in major museums by noted curators and reviewed by prominent art critics, and bought and sold at auction or through top galleries over a period of time, it is almost impossible to guage the investment value of a work of art. And with artists such as Damien Hirsh, Julian Schnabel, Andy Warhol or other household art celebrity names, the prices are more volatile than the trading prices on Wall Street.

So if you're looking to invest in art, start with visiting as many galleries and museums as possible to cultivate your aesthetic taste and discover what you like and don't like. The more art you see and learn about, the more discerning your eye will become. You'll find yourself responding to different genres or styles of work -- abstract or figurative, conceptually or expressionistic, landscapes or folk art.

Ultimately, the reason to invest in Contemporary Art is not whether or not it will go up in monetary value over the years, but what it brings to your life, your home and your world view. How it expands your experience of humanity and the world around you.

When you think of how much you "invest" every year in new gadgets and gizmos and entertainment that may be enjoyable but fleeting. Think of owning something that will add something new to your life every day.