"The returns on contemporary art investment can be quite astonishing. Some paintings purchased 20 years ago have appreciated in value by as much as 7,200%. In the last decade it has not been unusual for pictures to increase in value more than houses."
Barry Mc Call,
Author of The Investors Handbook
David Britton of James Adams auctioneers writes
"The Irish art market has grown faster than any other international art market worldwide. Each year sees unprecedented records smashing those of the previous year,"
From the Irish Arts Review
"People once furnished their homes with comfort in mind and bought pictures because they appealed to the eye. Today, with the best Irish art and antiques continuing to outperform stock market investments, an object's investment potential can tip the balance in favour of making a purchase."
Sunday, January 02, 2005 -
By Ros Drinkwater
Stuart Cole of auctioneers James Adam seems confident of quality Irish art continuing to achieve excellent prices. Contemporary art, he believes, will do well with some artists having risen up to 200 per cent over the last five years.
Art is becoming a popular investment in Ireland, and Irish paintings are obtaining good prices, and they can be a worthwhile investment if you choose wisely. Today, much of the best Irish art and antiques continue to outperform stocks and shares from an investment point of view, and can be less risky than the property market.
People treat art in the same way they treat buying home furnishings. It's an investment but it is also a part of your home. Typically a person would spend €2000 upwards on a piece of furniture for a home. For instance a good quality suite would last at least 10 years. So it's not unusual to think of investing 2000 to 3000 on a painting to hang over the suite, and it is sure to out live it and many other furnishings in the home.
Emerging artists
Investors can get good value by buying the work of young artists who are establishing their reputations. If the right choice is made, considerable returns could be made over the long term. Purchases of John Short and Gerard Byrne have yielded excellent returns over the past few years. The investment return on a particular work can be substantially increased if a Gallery is promoting the artist. Some artists that we would recommend are John Short, Lucy Doyle, Sahoko Blake, Gerard Byrne and Rod Coyne.
There is no sign of the domestic Irish art market slowing in growth although a limiting factor might be the increasing discernment of collectors married to the availability of high quality Irish art. This supply and demand is heightened by many collectors holding on to good Irish art rather than risk alternative investments such as the volatile stock market.
There are all ranges of types of art to invest in, just as there is in a stock market investment portfolio. It is good to spread an investment over a few items or stocks and not just one. Consider a collection of works including younger talent that may have a higher risk of investment potential and then more established artists who may be more expensive, but have shown a steady growth in value over the years.