Instagram is the world’s most talked-about new art dealer, whose influence on the art market continues to grow every year. Social media channels were once used to purchase affordable artworks, but today even big art collectors buy art online. Follow these tips to learn how to buy artwork on Instagram.
Although some art investors manage to get high returns on their purchases, investing in art is, in fact, a high-risk endeavor. Art investments carry a wide range of risks and expenses that many people aren’t aware of when entering the market - let's look into some of them.
The price of art depends on many factors, some of which can be manipulated by collectors to grow the value of their pieces. Let’s take a look at how collectors can influence these factors to increase the value of their collection.
Freeports are a popular solution for art buyers today. They are located in duty-free zones outside of anybody's jurisdiction and anybody's tax bills. Tax benefits are the number one reason why many collectors opt for keeping their art in freeports, but there are many other advantages freeports offer to their users.
Unlike simple art assemblages, art collections are well-planned projects, established when collectors submerge themselves deep into the subject of their interest and spend years looking for very particular art pieces that can bring the entire narrative together. So what separates regular art buyers from art collectors?
Many art collectors forgo insurance; some because of the prohibitive cost, others over the inconvenience, and the vast majority because they assume “it won’t happen to me”. To be clear, if you own any artwork worth a few thousand dollars or more, you should definitely insure the collection.
If you’ve chosen to invest in a new piece of artwork, then its rightful place should be on display; unfortunately, we are occasionally forced to put away our choicest pieces, whether for renovation, moving house or something similar. In such cases, there are right and wrong ways to go about storage.
While it might not be an age-old question quite yet, there’s ongoing debate across the art world on the ethics of private art collection. Does it support only the wealthy, leaving starving artists with nowhere to turn? Perhaps private collections breathe new life into art galleries? Or do they simply offer the purse and motivation to preserve and maintain high-value works of art that, quite simply, museums cannot afford?