Modern Art Gallery » Art Market

Art Investment Guide

admin — Sat, 02 Jan 2010 20:33:30 +0000

Art Investment Guide

Second only in size to the US market, The UK art and antiques market is worth well over £4 billion a year, and holds a global share of some 26% of the world’s total art sales. In terms of volume, the UK is the largest marketplace for art on the planet. (1). In 2005, the index covering sales of old masters showed growth of 18. 8%, while the similar index covering post-war and contemporary art rose 8. 3%. Over the past five years, the average annual returns were 3. 1% and 17. 7% respectively. (2). That’s a better return than investing in stocks and shares.

Buying art can represent a fantastic long-term investment opportunity. In order to help you make an informed decision on the art you buy through The Art Ministry website, we have put together some key considerations to bear in mind when selecting work from our galleries. With over 25 years’ experience in the art market, our team have followed the same steps to ensure all work available in our Online Store is fairly valued. 1. Buy what you like

It’s important to trust your own taste when buying art. Our aim in providing this collection is to offer artwork for every budget that adds interest to your home or office, a talking point that enriches your environment and lifestyle. Great art needn’t be expensive, and buying artwork should primarily be an expression of your own personality. Like stocks and shares, the value of artwork can go up or down, so it’s crucial you buy what you like and can afford. Ultimately the true value of art is in the pleasure or feelings it evokes. The more people that find it appealing the more demand increases, which inevitably increases the value. 2. Do your homework and understand the value of the work

When you view a piece of artwork to buy, pay attention to detail. If you look into the way it has been physically created, how much time it took and the journey the artist went through in producing the piece, you will come to appreciate the skill of the artist and the effort involved in making the work. When it comes to value, don’t be taken in by the medium either. For example, oil paintings are in general more expensive than watercolours, but the latter can require more skill to achieve the desired impression.

The more artwork you look at and the more background information you obtain on various artists and how they work, the more you will learn what you like and why. Comparing the merits of a work with other artist’s work will help you determine the inherent value in any given piece and assist your buying decision. If you want to know what similar work has sold for, use a source like The Art Sales Index, which has catalogued art prices since the 1950’s, or the Mei/Moses Fine Art Index, which tracks various auction price indexes and compares them to the stock exchange to gauge relative performance.

The comparative merits include:The artist’s exhibition history The nationality of the artist What country the artist works in The medium the artist uses The size and dimensions of the piece The price their work has sold for in the past3. Buy from a reputable dealer

Only buy artwork from a reputable dealer. The best ones will provide extensive background information on the artists in their portfolio, giving details on how they work and what inspires them. Knowing the artist’s passion might also help you find a work that is right for you. Click here to read ‘About the Artists’ at The Art Ministry.

Reputable dealers will also provide a ‘Certificate of Authenticity’ with all original and limited edition artwork sold. This will be signed by the artist and proves the work is 100% genuine and has been accurately valued. These also include the following information:The title and visual description of the artwork Edition numbers and collection details Materials and techniques used Size and dimensions of the work The copyright holder Distributor details Release date of the artwork Printer’s details if relevant Comments from the artist Notes on caring for the artwork

Sources:

1. The House of Commons Select Committee on Culture, Media and Sport (Sixth Report)

2. ‘Is it just art, or is it investment?’ by Joe Bolger, Times Online 17th April 2006, quoting figures from the Mei/Moses Fine? Art Index

If you require more assistance with buying art from our website, please to contact us, alternatively, feel free to browse our to view the work of all our artists.

Looking for tips and advice on art and design, visit our blog.

Art Galleries

admin — Mon, 07 Dec 2009 14:36:51 +0000

The resource that the Saatchi Gallery provides to other art galleries around the world is invaluable. To those who own galleries and are highly interested in the contemporary art scene, the Saatchi Gallery provides the exposure and the information necessary to create and maintain a high profile gallery. Rather than compete with galleries around the world, Saatchi collaborates with them to provide them with international recognition on the global art market. The gallery allows other gallery directors to provide information about their art shop on the Saatchi website and also to provide links to their galleries via the Saatchi website. Since Saatchi caters to a growing international viewing audience of potentially millions of persons, all those viewers immediately become potential clients of the galleries that choose to be hosted on the Saatchi site.

Saatchi hosts links to the most prestigious galleries around the world, and facilitates the creation of sub-galleries for schools, colleges, and other artistic institutions. In fact, it caters to a wide variety of schools (primary to university level) and to the public at large, so that its collection is the largest available on the internet. Being a gallery itself, Saatchi also hosts the works of individual artists. The Stuart Museum, for instance, is a gallery hosted under the aegis of the Saatchi brand, which houses the work of students and recent graduates of artistic colleges and universities. Plus, Saatchi takes it one step further than brick-and-mortar art galleries by allowing artists to sell their work online free of commission. The gallery is therefore a large and all-inclusive contemporary art hub that provides the viewing public with a link to the widest variety of art and art galleries that currently exists on the internet.

Dissolving Stereotypes Concerning Contemporary African Art

admin — Sun, 01 Nov 2009 00:39:27 +0000

One positive facet of globalisation is the fusion of creative elements from various cultures of the world. The essence of this global shift has drastically changed the contemporary African art market, rendering post modern representations of this great continent, its people and creatures in new and enlightening contexts. Modern African artists work to explore new concepts by interpreting them within their indigenous traditions or by reflecting their authentic African situation or experience in their art work.

However, maybe it is less the content or style of the works than the origin, location or structure of the artist that exhibit them. If you talk about the contemporary art world today you are really referring to a world of art. Modern art cites from Sao Paolo to London, from Kassel to Cape Town all embrace an array of artists and cultures from the four corners of the globe, many of whom were born in Africa. Who are these global artists? And when they make art, do they make African Art? Or do they make modern African art? Contemporary Art from Africa or Postmodern African Art? Are these descriptions only applicable for artists that are from Africa? Or who live in Africa?

Postmodern African Artists Endure a Mixed Blessing

Defining the contemporary artists’ identity based on cultural or geographical boundaries has always been applied, especially in the African case. Unfortunately for many postmodern African artists this is a mixed blessing. Possessing African roots can be seen as a source of pride, an irrelevant fact, or a perpetual curse. Western stereotypes are steadfast and hard to eliminate. Western cultural presuppositions have negatively affected the presentation and interpretation of contemporary African art. In the Washington Post the Tanzanian artist Kiure Msangi quoted the reaction of a journalist: “Do you use acrylic paint? But that is not African!” Kiure Msangi proceeded: “If I would have used in some canvases acrylic paint with cow dung, I am sure the critics would have loved it”.

Can the World’s Contemporary Art Culture Benefit from the African Experience?

Although the stereotypes still exist, there is a growing upward trend in the sale and exhibition of contemporary “African Art”. Both collectors and the general public are investing in exciting vibrant paintings, sculptures, installations and digital art. These contemporary art collections bring delight and financial reward, while enriching many homes with modern form and colour.

The 21st century has been with us for some time and “African Art” is beginning to solidify the respect it has gained in recent years. This contemporary art should not be discarded as a strange sub-category, but be recognised for its sophistication and quality. These modern works of art are being produced by a professional and ethnically diverse art community that spans the globe.

By: Deri Jenkins