23 April 2012
Poised Concierge, a Lifestyle Management business based in London, speaks with Susan Mumford.
Investing in art has always been a popular past time but it’s only recently that pretty much everyone is starting to get involved. After thinking about this new boom, it seems that people are investigating the art world firstly to indulge in their passion for fine art, and secondly to delve into the exciting investment world. We’ve been chatting with art consultant Susan Mumford to get her views on what you need to know before you invest. Susan originally hails from Arkansas USA and has been active in the London art world for over 10 years. If you’ve got a question about art, she is the go to person.
The most important thing to remember is that you should always buy from the heart. It’s nonsensical to buy a piece if you don’t feel that personal connection to it. Whether you want to start investing with a wisely spent £500 or you want to dive in and spend £200k, the connection you feel to that piece is priceless.
Research is pivotal to ensuring that you end up with a piece that will sell. As with any investment there is no guarantee, but look into painters and auction houses to see how they sell and what you could get for your money. Investing gives you a real buzz, but you have to be practical as well. If you buy a piece make sure that you target the right type of auction house for it. As an example, contemporary Chinese art is generally most successful in Hong Kong based auction houses.
The benefits of investing are extensive. You get to explore your favourite artists, display their work on your walls before making the decision to sell them on to someone else who will appreciate them. It’s essential to take good care of your art work both for your own aesthetic needs as well as selling them on.
- Generally speaking, wall based pieces should be displayed at eye level so that your eye needn’t go up and down, instead it glides over the walls from one glorious piece to the next
- With art ‘Less is more’ is an effective concept, let the pieces breathe, don’t crowd them.
- For works on paper make sure you protect them from UV damage. You can achieve this with UV protected glass or acrylic, UV sheeting on windows or making sure that the piece is out of direct sunlight.
- Lighting art is almost as important as the piece itself. Get an adjustable light system so that as and when art work is added or removed you can adjust the light hassle free.
These are just a few tips, but you can find out more by speaking with an art advisor. Investing can be a lot of fun, but you have to always remember that you’re not guaranteed a return on your investment. The most expensive piece in the room doesn’t necessarily mean it will sell for more, be both passionate and practical and you will get the most out of investing. Check out the pieces thoroughly before buying, as there’s nothing worse than ending up with something you don’t like or that wasn’t worth the hard earned money you paid. It doesn’t happen very often but there a few fakes out there, so be smart.
Susan Mumford Art Projects and Decorazon Gallery present a Go-Go Art Girls Production:
Distilled Memory – An exhibition exploring the journey of individual recollection as portrayed by seven contemporary international artists
23 May – 2 June
A Pop-Up exhibition at The Framers Gallery | Artefact Showroom
36 Windmill Street, London W1T 2JT
Tube: Goodge Street, Tottenham Court Road, Warren Street
www.artiswhyigetupinthemorning.com | [email protected]
www.decorazongallery.com | [email protected]
Tel: 020 7748 2340
To learn more about Poised Concierge, click here.