While most people looking to invest their money turn to conventional investment categories like stocks and bonds, Brian Thuer, a West Chester entrepreneur, focuses on alternative investment routes such as art, according to a report from the OCNJ Daily.
According to Thuer, investing in art is not uncommon for the upper echelons of society. Art values rarely go down, and as an artist becomes better known, his or her work becomes increasingly more valuable, well-regarded, and desirable.
The most important factor in choosing the right piece of art is the artist. The artist’s name is the primary driver of a work’s value. Once an artist becomes a brand, that name alone will drive up the price.
The second most important factor is the artwork itself. For example, a Van Gogh landscape will always be worth more than his still life, because there are fewer of them.
Provenance and scarcity are also factors in choosing the right work.
Investing in art comes with its own risks, said Thuer. There is a huge market for copies, and many con artists create forgeries that can be near-impossible to distinguish from originals. Buying from a reputable source can help mitigate this risk.
Read more about investing in art at the OCNJ Daily.