How to Make the Best Investment When Buying Valuable Art

Dora Aguero
July 27, 2022

Buying a valuable piece of art is a dream for most people. This explains why in 2017, the global art market was valued at almost $64 billion. Unfortunately, most people don’t know where to start and they end up being conned by unscrupulous dealers who present them with inauthentic products. If it is your first time purchasing amazing art, here are five tips to get you on your way:

Get Acquainted with the Art World

Art galleries are a great place to start so you can get an idea of what you are looking for. A Coral Gables art gallery can give you a comprehensive view of many pieces so you can see what’s visually appealing to you. You also get to interact with dealers, artists, and other art collectors who can guide you in the right direction.

Prepare for Investment

Be ready to go over your budget if something blows you away. You might prepare a budget beforehand, but the reality is that sometimes you’ll find a great piece of art that will make you more flexible when spending. And if you do, do so on pieces that are booming in the art market, and that promise to gain value over time.

Know what determines the price

Apart from who the artist is, the price of a piece of art is dependent on other factors. For example, how rare is it, are you the first owner, and when was the piece created? There are also other hidden costs like insurance for certain pieces, shipping and framing, and of course the buyer’s premium if you bought it at an auction.

Get the Assistance of an Appraiser

Some people think that getting the advice of an appraiser is an unnecessary cost. In truth, it’s very important. They will give you an experienced eye on what great art looks and feels like and also make sure you don’t overpay for something that is not worth it. For example, Latino painters are known for their magnificent pieces, but you can’t know Latino art if you are new to the game.

You have to familiarize yourself with art and consult professionals who will help you not to make a mistake. If you are a new or an experienced collector, get yourself familiar with the art scene in the Coral Gables area and visit established art galleries like The Americas Collection, where the knowledgable staff will help you find art that best suits your needs.

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