June 18, 2024

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what to buy, where to look

2 min read

Work by artist Nicholas Bowlby at The Affordable Art Fair on October 20, 2021 in London, U.K.

Puja Bhatia | Getty Images

You’ve got a mortgage, own your car and perhaps have a mix of safe-bet and more riskier stocks in your portfolio.

You have some disposable income, and you’d like to invest in some art for your home. Where to start?

Well, the experts CNBC spoke to consistently advised first-time collectors to do their research.

“You really can’t overestimate the importance of reading, of learning, of visiting museums, of honing your eye,” according to Karen Taylor, an advisor and dealer.

“And really … figuring out what it is that you like, because there is all the difference in the world between a collection and a bunch of stuff,” Taylor said, speaking to CNBC at the Winter Art & Antiques Fair in London, U.K.

“Collectors [should] go to as many gallery openings, degree shows and art fairs as they possibly can – that’s how they can develop their own preference and get a feel for what art they really connect with,” said Maria Artool, CEO of the International Body of Art, which organizes exhibitions, in an email to CNBC.

Will Ramsay, founder and CEO of the Affordable Art Fair, which puts on exhibits worldwide, said collecting art is easier than people might think. “You don’t need to be an art expert at all. Talking to people in the industry and visiting galleries is a great way to keep up to date with what’s happening,” he told CNBC by email.

But don’t expect to develop your taste quickly, Taylor said. “A collection is a journey, a lifetime journey for a lot of people,” she said.

Art as an investment

While more mainstream types of investment aim for a short or long-term return, art isn’t seen as something to buy and sell for quick gains, according to the people CNBC spoke to.

“There’s … an etiquette in the art world, where you can’t just ‘flip’ something, and we would never recommend doing that,” Robert Diament, co-host of the Talk Art podcast, told CNBC by…

2023-11-09 02:19:00

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