Investment

So You Want to Start Investing in Artwork

So You Want to Start Investing in Artwork

Traditional investment options, like stocks, bonds, and even real estate, should be the foundation of your wealth-building portfolio. But let’s be honest; they’re kind of boring.

You can’t do anything with a stock, other than check the price 20 times a day and live in a constant state of stress. But they are important to invest in nonetheless.

Want to add a bit of pizazz to your investing strategy, and make the process of investing more interesting and fun? Then consider art investments.

Art is one of the strongest alternative investments, and consequently, one of the most fun things to buy. But what makes art pieces so attractive to investors, and how can you get started with these rare collectibles? Keep reading below to find out now.

Types of Art Investments to Consider

If you’re buying artwork as a means of diversifying your portfolio, there are two main pathways; the old and the new.

The old way of buying art is still popular with those that have a lot of money. This is the process of buying physical pieces, like paintings or sculptures from well-known artists. But the barrier of entry is high.

Oftentimes, to get quality pieces, you need to bid at auctions, and can quickly get priced out. Plus, if the artwork does appreciate in value and you want to sell it, it can be a complicated process. Physical artwork isn’t liquid.

The other option is to invest in digital art. More specifically, crypto art, otherwise known as NFTs. NFT technology has transformed how art can be bought and sold, and how artists can be compensated for their work.

There’s a reason that big-name, established artists have moved into the NFT space in droves.

Plus, it’s a great space for investors. If you learn how to perform your due diligence in the NFT space, you can find gems to invest in at a low price point and see the value skyrocket.

Look at the classic example of Bored Ape Yacht Club. This collection of 10,000 pieces originally sold for about $190 apiece when they launched in May 2021. In early 2022, they are worth a minimum of $200,000 each.

You can hold for the long-term or sell for quick profits. A combination of the two is probably in your best interest.

Getting Started With NFTs

So how do you get started with NFTs? First off, you need cryptocurrency. A majority of NFTs created and sold, especially those with long-term value, art built on the Ethereum blockchain. So you’ll need ETH, the second most popular cryptocurrency to buy it.

You’ll want to set up an account at an online crypto exchange, as well as set up a browser wallet like MetaMask in order to make NFT purchases.

You can then visit various NFT marketplaces, searching for pieces or artists that you think will be more valuable in the future.

When you’re ready to cash in and sell your NFTs, you can use these same marketplaces to list your item for sale. Each time an item sells on the secondary market, the original artist will receive an automatic royalty payment, supporting them to continue making art.

Art Investing Is for Everyone

Art investments are a fun alternative to the rather dull world of stocks and bonds. Not only can they hold their value over the long term, but they can be used in a number of ways, including to display them in your home.

NFTs are the future of art investing and open the door for every type of investor to have a chance at collecting artwork.

Looking for more investing ideas like this? Head over to our blog now to continue reading.

 

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