Considering investing in art? Get the DOs and DON'Ts from an expert


40 days ago

One of the reasons sometimes given for investing in art is that you can actually see what your money's gone into.

But to really reap a return from this often lucrative market, you must know what you are doing.

Absa recently ran a webinar series to help demystify investing in art.

Bruce Whitfield talks to Paul Bayliss, the bank's specialist art curator.

The series made the point that this branch of investing is open to anyone, says Bayliss.

He emphasizes that local artwork holds up on the international market.

So often we tend to look overseas and everywhere else and we don't really celebrate the rich talent that we actually have on this continent and in South Africa.

Paul Bayliss, Specialist art curator - Absa

When you buy art it is a long-term investment he reminds us.

You do have to live with that piece once it's on your wall.

Paul Bayliss, Specialist art curator - Absa

Or you put it in a cupboard and hope it goes up in value!

Bruce Whitfield, The Money Show host

Bayliss outlines some of the DOs and DON'Ts of choosing an art investment.

These include:

- Don't buy on impulse

- Buy within your budget

- Do your homework

- Learn from the experts at auction houses and galleries

- Look at the technique of the work

Investing in art doesn't necessarily require "lots of money" he says unless you're eyeing old masters like Pierneef and Irma Stern.

There are more affordable works that can be a couple of thousand to a couple of tens' of thousands.

Paul Bayliss, Specialist art curator - Absa

It's like any kind of investment - look at the artist... Have they evolved over time? Have they matured? You don't really want to invest in an artist that has been producing the same sort of work for a number of years.

Paul Bayliss, Specialist art curator - Absa

We have artists who are technically very, very proficient and can stand up against the best in the world.

Paul Bayliss, Specialist art curator - Absa

The global market accounts for about $65 billion of which the African market accounts for about $1 billion, and the South African market for about half of that.

Paul Bayliss, Specialist art curator - Absa

Listen to Bayliss' art investment tips in the audio below:

This article first appeared on 702 : Considering investing in art? Get the DOs and DON'Ts from an expert

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