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Articles » Finance » Investing » What You Should Know Before Investing in Aboriginal Art
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- Article Views: 438
- Word Count: 1221
- Date Contributed: Jan 27, 2009
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| What You Should Know Before Investing in Aboriginal Art |
Investment in Australian Aboriginal Art has been a financially rewarding activity for art investors as well as perceptive amateur collectors. The significantly growing popularity of this authentic art form stretches far across Australia’s borders and attracts more and more admires for both professional and personal reasons. As international attention increases and art critics don’t fail to express their respect for Aboriginal works, all kinds of collectors and potential buyers are becoming largely aware of the solidness of this investment – if cautiously pursued. Described by renowned art critic Robert Hughes as “the world’s last great art movement. Australian Indigenous Art now accounts for almost half the value of the Australian art market and around 70% of total exports of Australian art. Although deeply rooted in Aboriginal culture and community, the paintings produced are rich and varied in colour and design and incredibly beautiful to look at.
Aboriginal Art is currently the trendiest art scene in Australia, substantially outselling any other type of non-indigenous art and accounting for a good 60 percent display rate in renowned Australian Art Galleries. A roaring national and international success story, even prominent European museums have decided it’s time to invest. Proof hereof is the use of Australian Aboriginal Art in the design features of the new Musee de Quay Branly which opened in Paris in 2007. A smart investor will be able to make a sound investment. As the world is awakening to the unique beauty of Aboriginal Art, prices augment radically. Now is the ideal time for the perceptive investor to make a reliable investment with a profitable financial return.
The first step towards a solid investment is to research the artist and his background in depth. Useful sources of information include reference books, magazines, the internet, Australian public galleries and catalogs from companies like Sotheby's and Christie's that hold auctions of Australian Aboriginal Art. It’s essential to get acquainted with the artist’s reputation, his community, his productivity and the quality of his work.
When investment strategies are chosen smartly and artists are selected carefully, your investment in Aboriginal Art can lead to considerable financial returns. $1,073.600 for Emily Kame Kngwarrey’s “Earth’s Creation” in May 2007 was followed just two months later by a dazzling $2.4 million for Clifford Possum Tjapaljarri’s masterpiece “Warlugulong”, auctioned by Sotheby’s to the National Gallery of Australia.
Traditional Aboriginal Art varies widely across Australia making it easy for art investors to assemble a diverse collection. Although the expression of identity and dreams are universal themes within Australian Indigenous Art, prints, designs, colours and materials differ according to the particular community an artist belongs to. All these Aboriginal societies have their own traditions in depicting the universe. Strongly rooted in custom, materials vary from acrylic paint in the Desert Regions to ochre pigment or gouache which gives a rich colour to contemporary art works from the Kimberley Region and northern Arnhem Land. Smart investors will take their time to become accustomed to the artist’s community and vision. As an investor in or a collector of Australian Art, you are assisting in the building of Australian culture and you participate in the world’s oldest continuous cultural tradition.
Although the age of the artist is generally of no importance to the value of an artwork, investors have to understand the importance of social hierarchy within the structure of Aboriginal communities. Every member of an Aboriginal society is viewed and respected in regard to his age, status, achievements and who his tribal elders were. All of these aspects, including an artist’s track record and popularity should be taken into account by any investor who obtains to achieve an extensive and diverse portfolio of Australian Aboriginal artworks.
Armed with extensive knowledge about the artist’s background, an investor should thoroughly research the provenance of a work of art. A Certificate of Authenticity is usually provided by the community where the Aboriginal artist works and lives, or alternatively by the gallery from where the painting is bought. A biography of the artist, the title of the painting and the story behind it, a track record of the artist’s exhibitions and photos showing the artist holding the work in question are all equally valuable within the larger framework of an investment but are no proof of the authenticity of the painting. A Certificate of Authenticity is of key importance and reputable sellers, who often work closely together with the Aboriginal communities and the participating galleries, should have no problem delivering this as well as the guarantee that the artists receive what they deserve.
http://www.aboriginal-art-australia.com/g/34558/aboriginal-art-investing-in-australian-aboriginal-art.html
There are various possibilities in order to purchase. It’s of crucial importance that you trust the seller of the artwork in regard to the painting’s provenance before the purchase can proceed. Sellers are most likely galleries or individual art dealers, in which case it is important to meet these people in person and check their credentials, references and selling approach. Alternatively you can purchase art works online. If you buy Australian Aboriginal Art online, make sure your money will be refunded if the ordered artwork doesn’t live up to your standards or doesn’t fit within your collection. Purchasing directly from the Aboriginal communities might seem to be a good option but does not necessarily guarantee the artwork’s authenticity.
A successful investor will at all times keep in mind that authenticity is the key factor in order to make a good investment even and maybe even more so when evaluating works by famous Aboriginal artists like Rover Thomas, Emily Kngwarreye, Minnie Pwerle, Jack Britten and Clifford Possum Tjapaltjari.
Regardless of the fact that a financial benefit might be your first intent, never invest in a painting that doesn’t appeal to you. It is very satisfying to invest in a work of art that you genuinely appreciate, especially after all the time and effort spent to discover the roots and career of a certain Aboriginal artist. You should take your time buying a painting and match the likelihood of an interesting financial return with personal fulfillment. You will enhance relationships with trustworthy sellers, galleries and Aboriginal communities. It’s definitely worthwhile to extend your research in order to figure out the popularity of an art work. All famous painters who are respected and successful always have that one painting that astonishes the crowds and commands head-spinning amounts of cash: think of Van Gogh’s “Sunflowers” or Da Vinci’s “Mona Lisa”. This phenomenon is equally true for Aboriginal artists.
http://www.aboriginal-art-australia.com
Once you have taken into account all of the above mentioned considerations, you might be ready to start a promising career as an art investor or collector. Tim Klingender, head of Aboriginal Art at Sotheby’s recently stated new investors should remain careful and patient. Although the majority of art works do not rise in value, Klingender said that if you buy works of the same quality and provenance that the national and state galleries show, there's a good chance they will increase in value over time.
Colourful, unique, resourceful and intense, Australian Aboriginal Art can be a wonderful investment that allows you to share the worldview and stories of the Australian Indigenous communities. Galleries specializing in Aboriginal Art are listed online showcasing their finest collections for you to choose from. A wealth of information on Australian Aboriginal paintings and artifacts, the most authentic art form in the world, is waiting for you to be discovered.
Article Source: UnArchived Articles
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