Updated: Jan 7
What do people say about art investment? Is it possible to benefit from it? Are there insights to support art investment? Who are the top art collectors?
While you go through this article, you will find your answers!
If you’re passionate about art and love to invest or an artist who looks forward to his next investment or probably the first investment, this article will enrich your information with data about the top art collectors you probably need to know before investing!
Shall we start?
What You Need to Know From Art Collectors Before Collecting:
Art collecting is not a piece of cake, it’s not just a random process, you need to be careful in order to invest in the right piece of art.
So, let’s take a look at what you need to know before collecting, as said by experts in this industry to help you start your journey through art investment.
The first thing you need to know when investing in art is the “Why”: According to Natasha Arselan, an art collector and the founder of the Natasha Arselan Gallery and AucArt, an online art platform that specializes in emerging artists “You have to always know your why" she also said " “How you approach your journey of collecting and investing – what you collect, how much you spend. It all depends on your reasoning.” Of course, there is no wrong or right regarding your why, it differs from one collector to another.
Appraise supporting emerging artists: The patron and collector Valeria Napoleone says: “I am very attracted to making an impact. I support young, talented artists because I know it will mean a lot to them at a time when no one else is looking,” She adds: “You can support them in different ways – it’s not just about buying the art. Through my initiative I host dinners for artists, I engage in conversation, I support publications, and I connect people. Little gestures make a lot of difference. It’s not always about how much money you have.” Valeria Napoleone's own initiative especially supports underrepresented and female artists.
Know where to search: After deciding why you want to invest, you need to figure out where to look. Art collectors have different opinions about this. Lisa Schiff, the art advisor for the Leonardo Di Caprio Foundation, suggests getting involved with a non-profit organization. she says: “It’s a great way of getting into the art world. Studio Voltaire is a fantastic example,” she also suggests well-respected galleries and she talked about her favorites: “Stuart Shave and Sadie Coles are always favorites for me.” On the other hand, Arselan recommends AucArt as a premiere destination with impeccable provenance for all its art pieces, however, online marketplaces are a perfect place to purchase art acoording to Angie Davey, former creative director of EyeStorm: The beauty of browsing art online is that you can look at 100 times more than you can in a gallery and your legs are a lot less tired than after trawling round an art fair,”
Research is important so is your gut feeling: Arselan mentioned that if you're passionate about a piece of art and you like it, you need to look into the artist. So, is there a good or bad sign when looking into the artists? Matter of fact, if the artist's work is being flipped, if it increases in value too quickly, for sure, that's a bad sign because that means it's not generally sustainable. According to Areslan " “Check if the work of the artist is being flipped – if it goes up in value too quickly. That is a bad sign because that is not generally sustainable and you can check that though the auction house results or check on Artsy to see the pricing,” she adds "Other red flags are if an artist goes to auction too young because they lose often control of their market.”
NFTs are important to explore: The arrival of NFTs is the biggest development in the art world. According to Jonathan Bixby, Executive Chairman of NFT Investments "“The revolution of NFTs is simply that belief going digital and going global.”
The Top Art Collector in the World:
There are so many popular art collectors, and now we will talk about the top art collector with a value of collection that’s worth $3 billion… Ladies and gentlemen, they are the Nahmad brothers!
David and Ezra Nahmad:
These two are brothers who own the most valuable art collection in the world, however, they are not fond of art at all, strange, right?
And they're not the favorite pair of art collectors too, in the following lines, you will know why...
So, who are they? They are businessmen through and through and the name of their game has a singular goal which is selling for a profit. The value of the collection is $3 billion.
They treat art collections like not much more than a dollar transaction and this is not strange because of their backgrounds in investment in banking and blackjack.
How do they invest in art? they buy expensive art pieces, store them for a period of time and then re-sell it for maximum earnings. On the other hand, we can see that they have thought of everything really well - no surprise- because their storage unit is close to the Geneva Airport and of course it's tax-free.
What to find in their warehouse? up to 5K artworks at any given time, 300 of which are rumored to be $900 million worth of Picassos -yes, that's true-.
Their motto is “business is business” and artists like Monet and Picasso are just brands just like Apple and Pepsi.
The story of art collectors doesn’t stop at the Nahmad brothers, we still have a lot of stories to tell in the upcoming articles!
Follow us for more stories and tips from expert art investors!