Why art is becoming a recession busting investment

Article Added: 18/09/2009 12:05:53
We are all familiar with the doom and gloom of the economy at the moment but for those who make their living from producing artwork the recession could turn out to be a good thing. With low interest rates and an underperforming stock market investors are looking for somewhere else to put their money and with genuine artwork holding its value there may be no better place.

Jeremy Lamond an auctioneer at Shropshire-based Halls Auctioneers told the My Finance website: "The credit crunch has seen new buyers coming into the market who believe that they might as well buy art because their money is certainly not earning significant interest in the bank."

Jeremy also has some wise words for those investors who believe that artwork shouldn’t be expensive. "If you buy something that is cheap at the time, it will still be cheap in ten years time.” He believes that the best way to ensure you get your money back on an art investment is to "Make sure whatever you buy is in good condition and is genuine.”

With this in mind it is more important than ever for artists and designers to be marketing their work so that wannabe investors can find them. With investors being encouraged to put their money into artwork and pay a fair price for it, artists and designers could well become one of the success stories of the recession.

We would love to hear your thoughts on this story too. Are you an artist or designer who has seen sales rise as people look to invest in your work? Or are you an auctioneer or investment expert who can offer advice to potential investors? Let us know your thoughts at textiles@thehothive.com.