Up until recently, many people believed that you had to be a particular kind of person to invest in Art pieces. However, the more we learn in this information age, the more we understand that investing in art is something anyone can do. Rahul Gandhi CPA states that it’s all about asking the right questions and dissuading your misconceptions about art collection.
Why You Should Invest in Art According to Rahul Gandhi CPA
Fine Art markets have been estimated at above $50 Billion in 2021 alone, so we know that art is one of the worthiest investments you can make from a financial perspective. If we consider things more socially, we also realize that art tends to make us feel more deeply connected to our own experiences, and that’s enough for many to want to have it around. However, if you’re young, investing in the art may be difficult for you if you need help knowing where to begin, Rahul Gandhi CPA states, which is why you have to be strategic with the art you buy.
One of the primary reasons that people buy art is that, like real estate, art doesn’t depreciate. The older a painting and the more time it spends in the art space, the more it will cost a few more years. Thus, art is a sound investment.
Guidelines to Follow When Investing in Art by Rahul Gandhi CPA: How to Buy Art
1.Stick to Young or Emerging Artists
When you think of artists, you may not always want to invest in the younger ones who are full of life, but their art pieces will be much cheaper and have a lot of potentials to grow. The payout can be exponential if they eventually become a big name. If you see something in the art you relate to, make sure you help the artist create more by investing in their piece.
2.Start with Small Investments
Rahul Gandhi CPA confirms that you can start small when you’re first flexing your art-buying muscles. You don’t have to start spending thousands of dollars immediately. We suggest you stick to a budget for art when you’re first in the throws of your love for art. Divide your art budget into yearly factions and then spend it. It gives you more variety of art pieces you want to buy and helps you from splurging.
3.Research the Piece and Make Negotiations
One of the worst things you can do is buy a fake painting, which is why you want to research the piece before making your final offer and be sure to negotiate the prices as well as you can. Make sure that you stick to notable art auctions and art galleries so that you can verify the origins of the art. Auction houses and art fairs are also beautiful places to begin your art collection journey.
Final Thoughts by Rahul Gandhi CPA
If you still need to figure out how to invest in art, then Rahul Gandhi CPA suggests that you take it slow and consider the kind of pieces you would like to invest in. If a piece catches your eye, then talk to the artist if you can and see if there are similar pieces that you can invest in.