The Indian art market is divided into two parts – modern and modern. A modern subdivision of masters such as MF Husain, SH Raza, FN Souza, VS Gaitonde, Amrita Sher Gill. Contemporary market segments are relatively young, about the past 30 years. Or, a painter born after 1930.
1. Do your own research.
The first thing to do before buying an artwork is to enhance your abilities by reading the art, visiting local art galleries, meeting artists/collectors, and others actively involved in the field. Talk to artists, consultants, and curators to learn about the art market and connect with like-minded people who are interested in buying art, also known as “collectors.”
International auction houses such as Sotheby's and Christie focus on Indian art. There are also domestic auction houses such as Pundoles, Asta guru and Saffron Art. You can contact dealers and galleries. You can also find an art consultant. You can eventually pay a 2-5% consultant fee to an expensive project. The service fee for smaller works may be 5-15% of the value of the artwork. The cost also depends on the scarcity of the artwork.
Make sure that dealers and galleries sell genuine/genuine works. The art market is full of fake art, so be sure to do the proper research before buying art. When buying art, check out some important documents, such as genuine guarantees, proof of origin, previous art owners, status reports, publications [if any]. Today, many auction houses like Saffronart do not offer a certificate of authenticity. Although you buy from the auction house, you must understand the buyer's premium and the total cost incurred [freight, taxes, etc.]. Usually when you buy through a dealer, only the seller must pay commissions to the dealer instead of the buyer. This can also happen when you buy from a gallery. This in turn depends on dealers, galleries and art.
2. Quality, not quantity.
Invest in less quality work. Not all works done by refurbished artists are masterpieces. You must get help from an expert to recognize the masterpiece. For example, oil on canvas is sometimes the most expensive form of painting. Then there is the acrylic resin on the canvas, then the acrylic resin on the paper. Then use watercolor and charcoal on paper.
3. Buy artwork that you like and understand. Allocate budget.
Buy your favorite artwork. This is something you can keep for a lifetime, because you don't know what you can sell. Unlike other forms of investment [such as stocks], it is worth remembering that art is aesthetically pleasing, and some people believe that it should be evaluated outside of its monetary value. Art is a long-term investment. In addition, the price of the refurbished artist's work does not unnecessarily soar when he dies. Art should not exceed 5% of total investment.
4. Maintain artwork
Once you buy art, you also have to pay for maintenance, such as insurance and storage. In addition, you need to take care of the artwork, and the art should be stored in an environment without direct sunlight.
5. Investing in emerging artists
Experts say you can look at investments in emerging artists whose prices start at Rs 100,000. Although they may be a good choice, it is difficult to predict who will become bigger in the future. To do this, you need to get advice from experts in the field.
6. Printmaking, limited edition
If your budget is limited, you can also invest in limited edition prints such as stenciling and lithography.
7. Evaluate the artwork.
In Western countries, art has a bigger market. These countries have institutions that value art. In India, we have no recognized art institutions. But art can be assessed through auction houses and galleries. Recently, even insurance companies are art.Easy Accounting For Investment Clubs,Click here!