On Saturday afternoon, I went to an art gallery and bought my first very high quality painting. I have graduated from the college days of posters to the grown up days of fine art. A lot went through my head before I handed over my credit card.
I Will Look at It Every Day
First off, I am not trying to say that I am an art investor. There are people around the world that buy art simply to sell it for more at a later date. I am not planning on that.
I bought a beautiful painting by my favorite artist that I will look at every day. Unless I am out of town, I am at my home regularly. In fact, I live there. I want to be comfortable and happy with the place I live, and having beautiful art will make spending time in my home more enjoyable.
The painting is not to everyone’s taste, but I love it. I had a martini the other day and just sat there looking at it. I think it is an amazing addition to my home and I get a lot of value from it.
This Was Not an Impulse Purchase
I didn’t walk in on Saturday knowing I was going to buy it, but I have been planning to buy a Michael Godard painting for over three years. I first discovered Godard about five years ago, and couldn’t afford any of his work.
As time has gone, my income has increased. Buying a painting was no longer an issue of being beyond my means.
You all know that I hate impulse purchases, and I would never have spent so much on a whim.
The Value Will Increase Overtime
I know I just said I didn’t buy it to sell it, but I know that I always can. There is a big market for paintings by Michael Godard. He has made a name for himself over the last 15 years and has become known as the “rock star artist.” Having had the pleasure of meeting him on Saturday, I can personally verify that he has earned the nickname.
The market for Godard paintings is alive and well on eBay and galleries across the country. His giclée limited editions have all increased in value over time, generally doubling or more every five years.
I know exactly what I could re-sell the art for today and can estimate what it will be worth in the future. I am proudly owner of #43 of 200 prints of my specific painting, called “Cosmos in Love.”
I Could Always Sell It
Worst comes to worst, I could always sell it. Unlike most purchases, art is an appreciating asset. Quality art does not go down in value over time. It is important to understand exactly what you buy, where you buy it from, and have a way to verify the authenticity to be able to sell. I have all of those easily accessible.
Over time, I can track the market value of the 200 copies of “Cosmos in Love” and can easily value my asset. As long as I keep it in perfect condition, I don’t need an appraisal to know the value.
Make Sure Your Property is Insured
I have already contacted my insurance agent to make sure this valuable artwork is covered. It would be a shame if anything happened to it, but it would be even worse if it were not covered by my insurance.
If you own any expensive art, jewelry, or other property, make sure it is covered in your insurance policy or get an adder to cover yourself.
Do You Own Valuable Art?
Have you ever bought an expensive painting or other artwork? Did you view it as an investment or something you planned to keep? Please share your thoughts and experiences in the comments.
26 thoughts on “Investing in Fine Art”
Very cool! If you collect what you love, you can never make a bad decision. I have not yet “graduated” to purchasing something fine like this, but it is certainly in the plan. My art collection now is decent, but very personal to me.
When the moment is right, I am sure you will find something you love and take it home with you. It took some planning and research, and I was already looking into Godard paintings. I was just thrilled that this one worked out so well.
Expensive is probably relative, but I have bought some fine art over the years. Although I view it as an investment, I never thought of the art pieces as something I would sell. Maybe, it is because art is a personal choice and has some emotions associated with the purchase.
Expensive is very relative. Just from this artist in the gallery I made my purchase, there were paintings ranging from $500 giclee limited editions to $76,000 originals.
Kudos to you for making sure it IA insured. Most would forget and be very sad if something ever happened.
Thanks. You have to be responsible and protect your assets.
I have several pieces of original artwork (besides my own that is :P) and I love it. A few pieces were gifts, and then I’ve bought a good-sized acrylic painting and some Murano glass. The first thing I did when I bought the painting was insure it, so I’m glad to hear you’ve done that too 🙂
I think the main thing is to buy things that you love — things that really make you *feel* something when you look at it. Sounds like the one you chose does that 🙂
It definitely does. Loving my new artwork on my wall. It is awesome that you have some of your own stuff up too!
I tend to stick to more “DIY” type artwork (decals or homemade paintings on canvas). I did purchase one original hand painted oil painting though (actually a 5 piece painting.. or a sunset) from Overstock.com for $300. It fit perfectly in my dining room – so I couldn’t resist. I still can’t believe I spent $300 on it though….
If it makes you happy when you look at it, and you can afford it, it is totally worth it
I love your martini painting!
I’ve purchased or received several pieces of fine art and plan to buy more. I have original paintings depicting my favorite sci-fi TV shows, a Peter Max signed print and two Pablo Picasso lithographs from the Marina Picasso Collection (one is “L’Alesienne”, the other is “Tete de Mort et Livre”) – if you’ve ever watched my video show- you can see the Picasso prints in the background.
Thanks Dave. I love it too! The Picasso lithographs are pretty cool.
Pretty cool artwork Eric. I have not taken this step yet, but do personally enjoy beautiful artwork and look forward to the day I make these types of purchases. Most of my artwork is inexpensive & purchased while traveling to remind me of a time of enjoyment in my life. I see artwork as an “investment with benefits” – as you actually get to enjoy it on a daily basis, similar to real estate.
I have a few pieces from trips around the world. My favorites are two original paintings my Grandmother purchased while in Israel over 30 years ago. It is my favorite place to visit, they fit great in my living room.
As with any collectible alternative investment, you have to make sure you love it – don’t just buy it because you think it will increase in value, because it might not. We have found way too many art pieces we love – we like originals best, but have also obtained quite a few signed, dated, limited edition prints from several painters. I also love art pottery – old or new!
Great point. You never know what will happen with the value of art. Unless the artist dies… (just kidding, sort of)
The other day I was reading about investing in wine. My grand father ha d portrait of an Indian maharaja. my uncle sold it the local museum for a huge amount a few years ago.
That’s pretty cool. You never know what little treasures will turn into big fortune.
My husband and I bought some signed artist prints soon after we were married. The pieces are not currently on display, but we are still glad to have purchased them and they may go back up again. We’re featuring other favorite things that have been in storage too long : )
Sounds like it is time to dust those off!
My wife and I bought two signed, numbered Artist Proof Giclees of Michael Godard’s work while we were in Hawaii getting engaged, in 2005. I’d just popped the question the night before and we were strolling through Honolulu when a different piece of art caught our eye in a gallery. We went in just out of curiosity. Once inside we came across a display of Godard’s work and were immediately captivated by the vivid color on black, gallery wrapped frames. The whimsical subject matter was different than what I’d ever considered to be fine art. But, we got to talking to the very nice sales gal and she educated us on Michael’s ‘Don’t Drink and Draw’ series and we loved them. We enjoyed a glass of bubbly while deciding we might actually buy some fine art. When it came down to it we opted to go for wine themed pieces rather than martinis. We also went for the largest size. We couldn’t decide on just one either, and ended up becoming the proud owners of #74 of 300 of “Fat Bastard” and #310 of 400 of “7 Deadly Zins”. Throughout the purchase process we’d told our sales gal that we’d just been engaged and she offered to have Michael do a dedication on the back on “Fat Bastard” for us. Due to Michael’s schedule at the time, it took nearly 5 months for us to receive the giclees after purchase. In that time, our sales gal kept in contact with us, and when Michael visited the gallery she had him do a dedication for us on an archival grade sheet of paper. This was sent to us while we were still awaiting our giclees. “Fat Bastard” did arrive with a dedication on the back as well. Both hang proudly in our dining room along with the framed original sketch. I wired in special dimming accent lights for each. They are as stunning as the day we received them. I’ll gaze at each at length every once in awhile, but just with a passing view, they bring me joy. “7 Deadly Zins” has appreciated handsomely, but I couldn’t part with it or “Fat Bastard”. They mark a point in our life neither will forget. We were a young couple in love, just starting our life together. We’re still very much in love today, and someday our son (now only 7 months old) will inherit these two pieces. They’ll hopefully be as special to him, having grown up with their constant presence. Sure they’re worth money, but that’s not why we bought them. I do wonder if I may ever see the originals of each, if they’re in private hands or if someday they’ll surface in a museum. I’d like to see them some day.
That is a wonderful story Matt. Thank you for sharing. I am familiar with “7 Deadly Zins” and had to look up “Fat Bastard.” My Dad has a great painting (not Godard) that is very old and was passed down from my grandfather. It is a great work to have in the family.
Congrats on your first fine art purchase. I myself just recently bought my first piece by Godard. I wanted my first to not be on canvas though. I’m 26 and I have enjoyed Godard’s work since I was 20. I was walking through the Venetian art gallery in Vegas last week and saw a one of a kind guitar created by DJ Ashba that Godard painted on that I knew would be perfect for the first piece of true fine art that I would collect. A few days later my family and I were walking into the “Oh My Godard” gallery in Planet Hollywood and I was talking to the owner about it and he gave me an invitation to come back in May to meet Michael in person at one of his events in that store. I can’t tell you how stoked I am to meet my favorite artist. So now I’ll have the Godard signed and painted guitar which is also signed by Ashba, but I will also have a separate certificate that Godard said he would sign on behalf of the guitar verifying both those signatures and his artwork on it since he told the store owner not to risk damaging it in airline transportation. Once my guitar arrives, I’ll send you a picture if you want.
That’s awesome Jarryd! I have had the pleasure of meeting Michael in person twice, and he is a really, really nice guy. I am sure that guitar will make an awesome addition to your home.
I know this comment is coming 4 years after you wrote the article, but I have to beg to differ that Godard’s giclees appreciate in value. I bought his Daily Double limited edition hand signed giclee (500 edition size) in 2004 for $500. I just checked at several online art dealers and the price today is ….. $500. Rat farts!!
Looks like mine have done the same. I guess that’s part of the risk in investing, you never really know what’s going to happen. I still love them on my wall, so I don’t mind waiting a bit longer.
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