This post is by Jason Horejs, regular contributing writer for FineArtViews. Jason Horejs and his wife, Carrie, own Xanadu Gallery in Scottsdale, AZ., which they founded in 2001. Jason also publishes RedDotBlog.com, a resource for artists interested in creating and strengthening relationships with galleries, as well as those looking to sharpen their own selling skills.
Not too long ago I received the following question from gallery owner Steve Harrison:
I had a visitor in my gallery yesterday and asked, “Now because this is original art it won’t depreciate will it?” How does one answer that question. I spend a lot of my time trying to figure out an answer to that question. Of course, a person should buy what they like and no one should ever bank on an “investment” whatever that might be. Still when a person is spending gallery prices for original art, the question “Will this painting retain its value” is a question that deserves an answer. How do other people answer it?
Another variation of this question is “Will this art increase in value? Is it a good investment.” I’ve certainly heard variations of these questions many times from Xanadu clients.
There have been a number of articles in the press and online lately talking about the incredible premiums collectors are making when selling work at auction through Sotheby’s or Christie’s. These articles have added to some art buyer’s perception that art is an investment.
These can seem like difficult questions to answer because the perception is that if we tell the client that the piece isn’t guaranteed to be a good investment, we may lose the sale.
To read more on Jason's advice for art is a good investment, continue to the original full article on RedDotBlog.
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