Lawrence Jones, managing director of internet hosting provider UKfast.net
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1:00 am, July 28, 2008
Investing in Art
Here are some tips on buying art as an investment from art collector Lawrence Jones:
Look around. Don't go to one gallery and fall in love with a piece, fall in love with an artist.
Talk to people in the art world to find out about which artists would make good investments.
Don't accept the first price on a piece at a gallery. Ask to see if you can get it for less, or get something else similar from an artist who is cheaper.
Choose an artist that either has a prominent reputation or artists who have been classically trained. “Their work is more likely to accelerate in value because there is a snobbery in the art world. The art world almost encourages you to buy from this particular channel. Choose somebody who has a pedigree in terms of who taught them,” said Jones.
Make sure you buy something real from a reputable gallery.
And finally:
“It is important you just don't choose an artist that is popular. You choose the art the artist paints that's popular. And then within any artist, there will be that zone that people just cannot help but fall in love with.”
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