I suppose that if you are reading a blog about art, then like me, you too are passionate about art! I am Alex Reuben and I am the owner of Contemporary Six, an independent commercial art gallery based in Manchester City Centre.
Every day a number of people from differing art backgrounds visit the gallery; art novices, people wanting to take the step from buying prints to buying original art (there’s nothing wrong with buying prints though!) and regular art buyers and collectors. From time to time people ask me what to look for when purchasing art and since I can’t sleep I thought now was a perfect time to address the question, this is not to say I ignore people when they ask me this and wait till I can’t sleep to answer!
Often when people ask the question, it is usually a way of asking, “how do I buy artwork which will increase in value?” Now unless you find a hidden Picasso in your local antiques shop, finding a painting or sculpture which will increase in value dramatically is not easy, but finding work which holds its value or will increase over time is certainly more achievable.
Artwork like jewellery is a great investment, not only do you get to live with something beautiful (or ugly, depending on taste!) but also when you fancy a change if you have bought wisely you should be able to at least make your money back – if only selling your five-year old car worked in the same way!
So now time for my ten magical tips to help you purchase original art:
1. Artwork will only be profitable if you are able to resell the work, so make sure to check the quality of the art; for example, is the artwork signed? Check for any damage to the piece and don’t forget to examine the frame (although this can be changed, it’s worth taking a quick look, if you notice a week after the purchase that there’s damage you may struggle to get a refund!)
2. Who is the artist? The chances are they will not be present at the gallery, so it’s well worth asking the gallery owner or checking on the Internet for more information: How old is the artist? Where are they from? Is the artist well known? Is this piece of work typical of the artist? and how many pieces of art do they create a year? These are all important questions and are worth taking a closer look at:
How old is the artist? Is the artist still living? Buying artwork from a younger artist is of course more risky as their career could go in any direction but it does mean you will usually be buying work at the artist’s lowest price so there is an opportunity for a huge profit. When buying work from an older artist it is easy to identify patterns and trends in terms of their prices over time and when an artist dies it will push the price of their work higher.
Is the artist well known? I think that question speaks for itself!
How many pieces does the artist create a year? This might help the buyer appreciate how the price is determined. If you have a basic grasp of supply and demand you will understand if the artist creates 10,000 paintings a year they are less likely to significantly increase in value.
Of course there are hundreds of other valid questions you can ask but I don’t want to bore you all too much.
3. The artists’ C.V. is hugely important. The significance of provenance cannot be underestimated. Which art school did they attend? Where have they exhibited? Are they affiliated to any art groups? Who owns their work? Have they won prizes and awards? Which private collectors have bought their work? Have they exhibited in any public collections or solo shows? The more impressive the C.V. the better opportunity you have of finding a good investment.
4. Make sure the work comes with a certificate of authenticity. This is extremely important; it means that you have proof that the artwork is an original and this is essential if you choose to sell the work. Nowadays more fakes are entering the market, especially online, so insist on a certificate.
5. Check the space you have in mind in your home or place of work is right for the piece; remember that when viewing artwork in a gallery, it can often seem smaller than you think due to high ceilings and large white walls. On the other side of the coin make sure the artwork is large enough to fill your wall, you don’t want to buy a piece that will look insignificant when hung.
6. Take your time. When dealing with some galleries you can feel rushed and might feel forced into making decisions quicker than you would like, visit the gallery a number of times if necessary to be certain. Make sure you look around and see what’s on offer. Once you have spent your money on a piece that represents a large investment, it may mean waiting some time before your next purchase, so it’s worth taking your time and purchasing the right piece for you.
7. If you are buying sculptures consider where in your home they will be situated; you don’t want a ceramic piece getting knocked over and if you have pets it’s definitely worth thinking about! Of what material is the sculpture made? You need to find out how best to look after the sculpture, will the material change over time? Sculptures made from wood will often crack if not looked after properly.
8. Don’t forget additional costs!!!
- You don’t want to purchase a sculpture for £300 and then find out a decent plinth might cost just as much!
- If a piece isn’t framed you might get a shock when visiting the framers!
- If the piece doesn’t fit in your car, you will have to consider paying a courier charge or a man with a van!
- If the piece is difficult to hang you might have to consider hiring a joiner to hang the work for you!
9. If you love the piece, buy it. If it makes you happy and you would get pleasure from the piece daily then it’s right for you. I have written a lot about investment but you can’t put a price on happiness and therefore the piece is beyond value.
10. Visit Contemporary Six in the Royal Exchange Arcade in Manchester City Centre and have a chat with me. The Gallery is open Tuesday to Saturday 10am – 5pm.
I look forward to meeting you all!
Alex
