Now there´s a million peso question (about USD $500) if ever there was one!!!
There are so many meaning attached to the word “investment”when it relates to the art world and often it is just too loosely defined. So let´s start there before we get into art market details!
Art can be defined as an investment in many ways but we are going to stick to the interpretation usually associated with the word: Will there be a financial gain in relation to the purchase of an artwork from Colombia.
Like any investment there will always be risk in your decision. As such, either you should get yourself very familiar with the area of art that you are interested in or get a trusted independent advisor – and that means you should ask around to get independent information on that person too !!! Too much trouble – then probably investing in art or in anything is not a wise thing for you to do and I recommend that you go back to being risk adverse and buy yourself a couple of posters of Colombia!
Otherwise, if you are ready, settle down and read on.
Why Colombian Art?
So I am going to jump straight in and ask – why should you consider Colombian art? Well, there are a number of reasons. One of which is simply that within the past few years art from Colombia has started to attract greater attention from international art galleries and dealers after being basically ignored for at least two decades.
These galleries and dealers then will through their promotion start to build greater momentum towards the Colombian art market. So I expect that there will be a snowballing effect. Now, as of writing, the Colombian peso is at its strongest point in years and there is also a lot more credit to be had – some of which will also find its way into the Colombian art market. The strong peso is also allowing many artists to invest in presenting their art worldwide when previously it was really super-expensive foe a Colombian artist to even consider an overseas exhibition. So, I believe we can expect to see a greater number of Colombian artists exhibiting around the world. Again, this will add to the snowball effect. If you are not convinced by all of this, then it is time to stop reading and move on to something else!
So Who Should I Invest In?
Here is where you should really be doing your due diligence. Sure I could give you a whole bunch of names of great artists that I believe will make a big impact – but you don´t even know me – so I won´t. Go back to the first point. Invest some time on a few magazines related to Latin American or Colombian Art. Check around on the internet. Start to ask some dealers and don´t be afraid to make a few international phone calls. But most of all, when you decide on an artist , I suggest you also like the artwork. Now, strange as that may sound, if you are going to have a piece of art as an investment in your home, I think it is a good bet that to get the most enjoyment from it, you should actually like it too and not just think of it as a time deposit or capital growth vehicle!
1. Yes! It is time to invest in Colombian art.
2. Do proper due diligence on the art world and art market.
3. Do due diligence on the artist you decide to settle on.
4. Enjoy your investment!
PS: If you need to check out art prices I suggest you join ArtPrice (just click the link and it will take you to their site). They are the top site for transparent art pricing in the world.