1) Prices can be really tempting.
If we look at the value of an artwork based on its popularity and demand in various markets, we will see that many artists’ prices have not changed much over a long time. In fact, some paintings worth more than $250 million still stay unsold! I mean – this is a lot of money!
The price for such paintings could be less if bought from private owners. Or perhaps, you can get it even cheaper because there is no commission to pay for its sales representation (gallery). In addition, many galleries charge buyers additional shipping fees that they add to the cost of the picture.
There is also the possibility that the price changes quickly from one painting to another by the same artist. It could happen because of a change in demand for any particular style or subject matter. You may also stumble upon some great Art For Sale.
This means that if you see a trend in this direction – you can buy it right away (while it’s cheap) and sell it later on again while it is more expensive. So, even though art may seem like an investment that does not produce income, considering its steady increase in value beyond inflation, it looks more promising.
2) You’ll have higher chances of striking gold!
If buying at auctions, they sometimes cost hundreds of thousands of dollars to participate, which is not even remotely affordable for many people.
On the other hand, auctions are often the only way to buy famous or worth a fortune. Sure, there are many opportunities of buying at private sales too.
But usually take place in prestigious galleries where you can’t just walk in without an appointment and talk about your interest in particular paintings within their collection.
This means that if you want to see paintings worth buying – you will have to seek them out yourself, travel long distances, and spend additional money on gas. It could be exhausting! Many buyers also don’t have time for all these things – therefore, it’s better to purchase what they need online with no hassle instead.
Some people don’t want to go through the formalities of dealing with galleries and auction houses. They can buy art for sale online – but only from private sellers. Of course, you have no idea which stands behind the other side of that website.
You could even get scammed if you aren’t careful! To avoid such unpleasant situations, it is advisable to purchase paintings with Escrow service.
It will help you be sure that everything is alright when a payment is made by the buyer’s credit card or PayPal (and this involves protection during the transaction).