{"id":3715,"date":"2023-06-20T09:01:09","date_gmt":"2023-06-20T09:01:09","guid":{"rendered":"https:\/\/1finance.co.in\/magazine\/?post_type=blog&p=3715"},"modified":"2025-08-02T12:57:04","modified_gmt":"2025-08-02T07:27:04","slug":"so-you-like-art-but-should-you-invest-in-it","status":"publish","type":"blog","link":"https:\/\/1finance.co.in\/1f-dashboard\/blog\/so-you-like-art-but-should-you-invest-in-it\/","title":{"rendered":"So You Like Art \u2014 But Should You Invest in It?"},"content":{"rendered":"

In March 2021, Mike Winkelmann, better known as Beeple, sold his work <\/span>Everydays: The First 5000 Days<\/span><\/i> for a whopping $69 million at a sale by the 257-year-old auction house, Christie\u2019s. Six months before this history-making event, the digital artist, who gained prominence primarily through social media, had made his highest sale on a print for $100, reported <\/span>The Verge<\/span><\/i><\/a>.\u00a0<\/span><\/p>\n

It was a watershed moment. Part of the appeal of <\/span>Everydays<\/span><\/i> was that it was an NFT or non-fungible token, still a mystifying new technology in 2021, which was about to change the way art was sold and owned. But why Beeple? Was it just a random draw of the cosmic straw that set up this little-known man, in a sea of digital artists, to disrupt the art world?<\/span><\/p>\n

The fact is Winkelmann had been putting forth new artworks in the <\/span>Everydays<\/span><\/i> series, well, every day, for 14 years. With these often quirky, occasionally crude images, Beeple had built himself a fan base of over 2.5 million across platforms. The prestige of a house like Christie\u2019s, and the sale, assigned legitimacy to him, and to NFTs.<\/span><\/p>\n

You\u2019ll often hear that art is a tangible, long-term, collectible asset class, the playground of the uber-rich where vintage cars, watches and wine are also things to \u2018invest\u2019 in. But, at the same time, especially for those venturing into these waters for the first time, it is important to know that this is a high-risk environment.<\/span><\/p>\n

You may want to invest in art driven by pure passion or with the intention to resell at a profit. But what do you do if you are an aspiring art investor but don\u2019t have the disposable income of <\/span>Everydays<\/span><\/i> buyer Vignesh Sundaresan? Is it possible for a layperson to identify the next big thing in the art world \u2014 the next Beeple or the post-NFT phenomenon? The good news: You can, but also, you don\u2019t have to.\u00a0<\/span><\/p>\n

At a basic level, a work of art \u2014 painting, sculpture, photograph, multimedia installation, film memorabilia or even GIF \u2014 that is rare or the original version will likely grow in value over time. Cases in point: Monet\u2019s <\/span>Water Lilies<\/span><\/i>, Van Gogh\u2019s <\/span>The Starry Night<\/span><\/i>, and MF Husain\u2019s <\/span>Horses<\/span><\/i> can command astronomical sums of money at auction today, as long as they are originals and not giclees, prints or posters.\u00a0<\/span><\/p>\n

The NFT\u2019s main purpose is also to establish the authenticity and uniqueness of an artwork created digitally. But even if you\u2019ve bought an original artwork, how do you know its value will appreciate? At least with contemporary or digital art, it\u2019s more challenging to do \u2014 and that\u2019s the bad news about investing in art. The art market is especially difficult to navigate because, being a cultural product, its valuation is subjective.<\/span><\/p>\n

Unlike real estate, whose value goes up and down depending on relatively calculable metrics \u2014 such as economic climate, location, infrastructural development and access \u2014 art\u2019s market value can depend on some arbitrary factors, such as aesthetic appeal, novelty, the artist\u2019s reputation, or even the current global mood. It\u2019s why all gallerists and collectors have one piece of advice: Do your research.\u00a0<\/span><\/p>\n

Gallerists, like Bhavna Kakar of Delhi\u2019s LATITUDE 28, <\/span>advise<\/span><\/a> visiting local museums, galleries and art fairs regularly, subscribing to art magazines, setting a budget, scouting for art and artists that speak to you, seeking originality and, importantly, holding on to receipts, invoices, authentication certificates and other documents. She also stresses the importance of maintenance and care, insurance and documentation.<\/span><\/p>\n

Education is the backbone of investing in art. In a <\/span>piece<\/span><\/a> for <\/span>Architectural Digest<\/span><\/i>, Shireen Gandhy, Director of Chemould Prescott Road, another gallery, comments that prices of artworks vary from artist to artist, depending on their exhibition history, and the size and medium of their work. It\u2019s why knowing periods of an artist\u2019s career and eras of art \u2014 like 20th-century modern or 21st-century contemporary Indian art \u2014 and understanding schools and styles (for example, the Baroda versus the Bengal school of art) is fundamental.\u00a0<\/span><\/p>\n

But what about when you\u2019re ready to put your art back on the market? Online platforms like Etsy, eBay, Artsy and Saatchi Art are buzzing with collectors selling their art. But if you know you have something of higher value \u2014 having checked in with a specialist, studied the chain of ownership and found that your piece has a unique provenance, or done your research on the Indian Art Index, created by IIM Ahmedabad and Mumbai-based gallery Aura Art \u2014 then it might be time to call the auction houses to consign your collection.\u00a0<\/span><\/p>\n

At the end of the day, investing in art is neither easy nor risk-free. Indeed, most industry insiders say that thinking of art as investment alone will work against you. The fundamental rule of buying art is to finally buy what speaks to you. As Kakar puts it: \u201cHone your eye, buy what you like and don\u2019t follow listicles or auction picks for starters, live with your first purchases and then move ahead.\u201d<\/span><\/p>\n

Nidhi Gupta is a freelance writer and editor based in Mumbai.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

In March 2021, Mike Winkelmann, better known as Beeple, sold his work Everydays: The First 5000 Days for a whopping $69 million at a sale by the 257-year-old auction house, Christie\u2019s. Six months before this history-making event, the digital artist, who gained prominence primarily through social media, had made his highest sale on a print […]<\/p>\n","protected":false},"featured_media":2072,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_updated_date":""},"blog-category":[274],"acf":[],"yoast_head":"\nSo You Like Art \u2014 But Should You Invest in It?<\/title>\n<meta name=\"description\" content=\"Explore insightful articles on finance, investments, and money management on our blog. 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