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Review Dec 16 2008 « | »
"My main advice is to support those that you feel are geniuses" Raconteur has produced a great section in the Times today entitled Investing in Art. Its well worth a read,......

Donald Eastwood

Raconteur has produced a great section in the Times today entitled Investing in Art. Its well worth a read, not just because we are in it, but for the level of writers and interviewees they have assembled. More than anything it offers perspective positive guidance in an investment market that, like most others, is struggling for direction at the moment.

"For those approaching the art market for Profit first, the news is this," writes Evening Standard arts correspondent Godfrey Barker, "Everyone has lost 20 per cent this autumn. This has put the highest priced areas of the market onto Himalayan summits inaccessible to climbers... "The rest of the art market is not so pricey. Money goes far further in many other sectors and first rank paintings, artworks and objects are much more cheaply obtained." Like any other sector it seems the bubble has burst for the over-tenacious, while the stable, knowable areas of the market, art that does not rely on speculation, has held firm.

He also highlights an interesting shift in confidence between art and money that is well-worth following in the coming year. "Art investment, despite the credit crunch, is alive and well. Art is 'safe' and still worth having. In these grim times when banks cannot be trusted and cash is poison (interest rates are 2 per cent, inflation is 4 per cent so cash is self-destructive) people see artworks as tangible and real and they trust what they're getting."

"In the lower-priced solid and serious sectors of traditional collecting, buyers have no cause to stop and ask if they are paying too much," adds James Rondell, from London dealers Simon Dickinson.

Also very interesting for collectors of emerging art is Helen Sumpter's brilliant piece "Bright Young things" on page 14, in which she speaks to some of the sector's biggest players such as Anita Zabludowicz (whose quote is the title) and Flora Fairbairn.

Check it all out online here.

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