With the booming art market, investing in art and collectibles has become increasingly popular among investors. When it comes to investing in art, selecting the right artists is crucial. By identifying young and promising artists early in their careers, art investors can realize substantial returns over time as the artists gain recognition and their works appreciate in value. However, not every artist will be profitable or appreciate at the same rate. It requires a keen eye to spot talent and forecast demand. Here are some tips on how to identify famous artists to invest in for long-term rewards.
Look for artists with unique style and vision
One of the key factors in determining an artist’s investment potential is their distinct style or vision. Look for artists who break new ground stylistically or conceptually. Trailblazing artists who push boundaries often stand out from their contemporaries and end up defining new art movements or genres. For example, Pablo Picasso was a pioneer of Cubism while Andy Warhol defined Pop Art. Identifying the next Picasso or Warhol early on can lead to game-changing investment returns. Do your research to find emerging artists with a bold creative identity that sets them apart.
Select artists with strong technical skills
While creativity is paramount, an artist’s level of technical skill also affects their marketability and value. Look for evidence of mastery in their chosen medium or materials. A skilled painter will demonstrate proficiency with composition, use of color, brushwork, etc. Sculptors should show adept handling of their materials and attention to detail. Strong technical skills allow an artist to better execute their creative vision. Well-executed works tend to attract collector interest more than sloppy works.
Focus on artists with growing collector buzz
Pay attention to up-and-coming artists who are starting to generate buzz among collectors and critics. Early signs of traction among art world tastemakers suggest an artist is gaining momentum. Follow art publications, galleries, museums, and auction results to identify rising talents. An endorsement from an influential curator or gallery can boost an artist’s profile. When several important collectors begin acquiring an artist’s work, it’s a promising indicator of future demand.
Look for artists with potential for mass appeal
While much of the art world caters to a small elite, some artists manage to achieve broad popular appeal. Artists who find a universal element in their work that resonates with everyday people can find a much larger audience. Andy Warhol became hugely successful by focusing his Pop Art on recognizable icons like Campbell’s soup cans and Marilyn Monroe. Finding artists who tap into cultural zeitgeists or touch on collective experiences can lead to populist success.
Choose artists with strong career trajectory
Examining an artist’s exhibition history, press coverage, and auction results can give a sense of their career trajectory. Look for steadily increasing shows at major galleries, representation by influential art dealers, growing press mentions, and rising auction prices. Sustained career momentum over several years is a good indicator of longevity. Avoid artists that appear suddenly hot then fade quickly – look for those building momentum over the long haul.
Diversify across different artists and mediums
Since the art market is unpredictable, it’s important to diversify your collection across different artists, styles, and mediums. Don’t invest solely in one type of art or a single artist. Spread your risk by selecting a range of promising talents working in different styles and mediums. Balance contemporary artists with modern masters for stability. Allocate more capital to established names and less to unproven emerging artists.
Identifying promising artists with unique creative vision, strong skills, growing buzz, mass appeal and upward career trajectories can lead to wise and profitable art investments. Take a diversified approach for stability.