I was listening to Newstalk this morning on the way in to work on the bus. They had an advert for the Green Gallery on the top floor of the St.Stephens Green shopping centre.
The gist of the advert was that “investing” in their art is possibly one of the best things that a small investor could do with their forthcoming SSIA windfall. You could take their advice, or you could take Eddie Hobbs 30 Things to Do with your SSIA advice, or you could check out the Value Ireland things to do with your SSIA, or more importantly, things not to do with your SSIA.
But back to art as an investment. There are a number of interesting comments on this thread on the AskAboutMoney website about investing in art. Some positive and negative comments there, but the key point seems to be that you need to do as much investigations into investing in art as you would in anything else such as property or shares.
To be fair, as the Green Gallery website says itself, “Consider the purchase as you would any other investment decision. Educate yourself as much as possible before buying a piece – is a Gallery promoting it? Have prices increased in recent times? ”
But you must remember, an art gallery is most likely not an impartial advisor when it comes to buying art – they’ll be getting their cut as well. It’s like asking Eddie Hobbs if it’s a good investment to buy property in Cape Verde. You need to watch out for the vested interests in anyone who’s giving you advice on how to spend your money.