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Investing in art
joebob
Posts: 486 Forumite
I have been thinking of dipping my toes into buying artwork as a way of diversifying my investments. A long way off yet from actually buying yet still doing research. Anyone on here invested and care to share their thoughts or tips etc.
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Maybe have a read of this thread......: https://forums.moneysavingexpert.com/discussion/6154100/fine-art-investment-mistake/p1
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joebob said:I have been thinking of dipping my toes into buying artwork as a way of diversifying my investments. A long way off yet from actually buying yet still doing research. Anyone on here invested and care to share their thoughts or tips etc.I personally do not invest in art. But I have read about that. One of Warren Buffett and other billionaires investors such as Lynch golden rule of investing: invest the things that you thoroughly researches and understand. So good understanding on how the art industry work is needed. There are a lot of scammers out-there.It is also important to have a skill on how to value that piece of art, a skill to differentiate between valuable piece of art with the art that could have been just bought from car-booth sale or just pulled out from the skip and passed it to you as an expensive piece of art.2
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....bargepole springs to mind???
.."It's everybody's fault but mine...."2 -
Do not invest in art! Buy art to enjoy it and only if you can afford to hang it on the wall and never sell it.“So we beat on, boats against the current, borne back ceaselessly into the past.”4
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Personally I wouldn't
NFT's the noise has decreased.0 -
A non productive asset that is valued only by popularity. Not for me.
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Buy art if you love it.
If your are of an age and can remember the words of 10CC,
Art for arts sake
Money for Gods sake.
I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.1 -
Why do you need to diversify? Why don't you think you can find enough diversification in mainstream and less esoteric investments?1
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What investments/classes do you already have?joebob said:I have been thinking of dipping my toes into buying artwork as a way of diversifying my investments. A long way off yet from actually buying yet still doing research. Anyone on here invested and care to share their thoughts or tips etc.Remember the saying: if it looks too good to be true it almost certainly is.0 -
I don't need to diversify, i was just exploring other avenues.wmb194 said:Why do you need to diversify? Why don't you think you can find enough diversification in mainstream and less esoteric investments?
Shares mainly and some premium bonds
What investments/classes do you already have?joebob said:I have been thinking of dipping my toes into buying artwork as a way of diversifying my investments. A long way off yet from actually buying yet still doing research. Anyone on here invested and care to share their thoughts or tips etc.1
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