Speaker(s): Carol Damian, Julia Draganović, Vivian Pfeiffer
Art as an Investment
A piece of art to enjoy is certainly a driving factor when making a purchase but what about art as an investment? With the art market showing signs of resiliency, art is a unique alternative investment option.
In fact, some investors rank art second only to real estate as the best investment. Collectors have created a hefty supply and demand system as the years have gone by, but the question remains: How can you find a piece that will appreciate in value? Join Dr. Carol Damian, Julia Draganovic and Vivian Pfeiffer to find out! And before we dig in, here are a few tips:
Look for Art Trends
If you're going to invest in art, you need to be aware of the current trends. What's popular now might not be popular in 10 years, so you need to be mindful of that when making your purchase. When considering a piece, ask yourself if it's representative of a current trend or if it has timeless appeal. Chances are, the latter will appreciate in value more than the former.
Stick to Well-Known Artists
When you're first starting out, it's always best to stick to well-known artists. Not only will their work be easier to resell, but you'll also be able to get a better idea of how much their pieces are likely to appreciate over time. Once you've built up a strong foundation, you can start branching out into lesser-known artists whose work you love. However, it's important to remember that with lesser-known artists there is always more risk involved.
Do Your Research Before Making an Art Purchase
It's important that you take the time to do your research before making any kind of investment, and art is no different. Always make sure you're buying from a reputable source and that you're getting exactly what you're paying for. If possible, try to get an expert opinion on the piece before pulling the trigger. With art, as with anything else, it's important to know what you're getting into before making a purchase.
If you're thinking about investing in art, these tips should help you get started. Remember, however, that like any other investment there is always some risk involved. But if done correctly, investing in art can be a great way to grow your wealth over time.
Panel Discussion: Dr. Carol Damian, Julia Draganovic and Vivian Pfeiffer
This panel is made up of Dr. Carol Damian, the dynamic Director & Chief Curator of the Patricia & Phillip Frost Art Museum; Julia Draganovic, the director of Kunsthalle Osnabruck, Germany; and Vivian Pfeiffer, the Deputy Chairman & Head of Business Development at Phillips.
Dr. Carol Damian is the dynamic Director & Chief Curator of the Patricia & Phillip Frost Art Museum at Florida International University, positions she assumed in 2008. She is a graduate of Wheaton College in Norton, Massachusetts, and received her MA in Pre-Columbian Art History and her Ph.D in Latin American History from the University of Miami. A professor and former chairperson of...
Julia Draganović (Ph.D.) is a curator for contemporary art whose interest is focused on new artistic strategies including art in public spaces, socially engaged practices and new media. She has curated shows in Germany, Italy, Spain, the USA and Taiwan, including the curatorial projects of Bologna Art First 2010 – 2012 and at Art Miami since 2009. Draganović is member of the committees...
Vivian Pfeiffer is a Deputy Chairman & Head of Business Development at Phillips. Previously, Ms. Pfeiffer is responsible for driving sales activity across categories for Christie’s Private Sales channel in the Americas region.Ms. Pfeiffer began her Christie’s career in 1990 and was instrumental in building the company’s success in Latin American Paintings. Most recently, she was SVP...