Invest in Arts? 🎨

 

 How to Invest in Art? 🎨 

Art is booming! Indian art is the new avenue for investment! The headlines are screaming names of Indian masters and the amounts they are being sold for. Artist Tyeb Mehta’s ‘Mahishasura’ being auctioned for $1.5 million is still quoted in any article on the Indian art market. Suddenly people who wouldn’t know their Hussain’s from their Raza’s want to buy ‘Art’ and reap golden dividends on their ‘investments’. This brings us to the moot question that every new investor would like an answer to “How to invest in art?” 

                 

Know your art: When it comes to buying stocks you would undoubtedly study the market, go through past company records, see the financial health of the company. Investing in art requires the same amount of understanding and research, only in this case you will be focusing on the artist whose work you are planning to buy. Following are the points that you should cover in your research: 

• Go through his profile, it makes a difference if the artist has been to an art school or is self-taught. 
• Consider which galleries are promoting the artist, how many exhibitions has he shown his works in, who have been past buyers of his works, have his works been acquired by art museums or institutions? 
• Before zeroing in on a particular work, see the previous and current works of the artist. Ideally it is advisable to purchase work in the particular style associated with the artist. A one-off experimentalize work may appeal to you but would perhaps not be the best option when you seek appreciation on your investment. 
• For a artwork to have an appreciation value it must be ‘timeless’ which means it should be able to transcend currents fads and trends. For instance, the Indian art market a couple of years ago was flooded with images of the Buddha, with new buyers seeking the Buddha in line with the Feng Shui fad; these have little or no investment value. 
• Consider the provenance of the work, especially if the artist is well known. Insist on an authenticity certificate, signatures are very easy to forge and with the high prices that well-known artists command, fakes are a lucrative market. 
• Of course, it the job of gallerist to guide you before you make your purchase, but always bear in mind, that they too are interested in making a ‘sale’ so learn to read between the lines. 

Established or Upcoming Artist? This question can be easily answered by considering what returns you are seeking. If you are looking for short term gains then by all means buy an established artist, where you are likely to make an estimated 20% gain annually if you choose to resell your work. However, if you are able to have a lock in period of about 8 to 10 years for your investment, then upcoming artists are a more exciting option. For the reason that if the artist you are backing does become a sensation, then your small investment will truly escalate, besides you get the satisfaction of knowing that you have a good ‘eye’ for art and chose well. It is always advisable to balance your art portfolio with works by both established and emerging artists. Just as not all upcoming artists will be successful, similarly not all works by established artists are masterpieces and appreciate in value. 

Art for Art’s sake! Purchasing art cannot be just a business decision, because unlike stocks, here the ‘product’ that is the paintings should appeal to you on an emotional level as well. In fact, very often an artwork that manages to capture your imagination and wonder; is most likely going to appreciate in value as well. Again, unlike stocks, you are not going to get monetary dividends from your investment, but you can get hours of viewing pleasure from your artwork. Besides, you are likely to maintain a gestation period before re-selling the artwork, so you may as well purchase something you like – buy an artwork for its intrinsic value, the material returns will follow! 

                               

Art Funds: For those who wish to take advantage of the art boom, but would rather leave the purchase of artworks to the experts, there is the option of Art Funds! They function in a manner similar to the mutual funds and here their portfolio consists of works by artists which their experts recommend. Some art funds that cater to the Contemporary Indian art market are Copal Art, Edelweiss Securities, Crayon Capital and Osian’s Connoisseurs of Art. These funds are listed on the stock exchange and you monitor their performance. These funds will have a minimum investment requirement and lock in period as well. After deducting their managerial fees, they distribute the profits from the sale of the artworks to their investors. 

A word of caution though - Investing in Art Funds does not guarantee a return: evaluate an Art Fund carefully like you’d evaluate any other similar investment! 

The essential basic point to remember while investing in art is that it is not a very ‘liquid’ asset. There could be instances of artists you have purchased not appreciating in value, there could be a long gestation period. At the same time, ‘art’ is probably the only ‘collectible’ which has a reasonably structured and transparent market. Prominent galleries which deal with the top level artists can even offer you a buy-back guarantee on the artworks. Ride the boom of the Indian art market but play safe for when the levelling process sets in! 

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Fast Facts for investing in Art: 

• Buy a work that you feel a connection with  
• Research the artist 
• Check out the provenance and authenticity of the artwork 
• Buy work that is typical of an artist’s style 
• Be prepared for a gestation period on your investment 
• Purchase a mix of established and upcoming artists in your art portfolio 
• Art funds are an investment option for those not looking to physically own works 
• Take care of the artworks you have purchased, (read blog my blog on preserving arts), their value depends on how well maintained they are. 

Techniques to Preserve Arts | Paintings | Conservation

 

The Art of Preservation | Conservation 

Art – paintings, sculptures, tapestries, drawings, whatever the genre it represents is something unique, beautiful, and deserving of special care. Artworks may be masterpieces or done by upcoming artists, the support used may be paper, canvas or cloth, whatever the medium involved all artworks need to be cared for in a special manner. Would you leave a diamond unsecured or an exquisite crystal piece on the floor, the same applies to paintings, they require and demand care if they are keep giving you viewing pleasure for many years to come. 

Let us explore the elements that are the main threat to artworks: 

Light: With light we walk a fine line, you need good light to view the works with all their details and nuances, at the same time too much can fade the colours and as a heat source, light can damage the works by drying them. When placing lights make sure that it does not reflect on the artwork, this is the ideal distance to be maintained. Also avoid direct sunlight by not placing the works opposite windows which not only could fade the paint but also discolor the paper. Another good idea of reducing the effects of light is to use non-reflective glass or UV-coated glass while framing paintings. 

                                             

Humidity: Damp can cause pictures to ripple. If the ripples touch the glass, the picture might stick and be hard to remove. Damp also encourages fungal growth - likely to show as brown stains. It is always best to avoid hanging framed pictures in humid conditions i.e. bathrooms. Allow six months before hanging pictures on newly plastered walls. 
Ideally, cool storage is desirable for archival materials. Fluctuations and extremes in temperature and humidity levels can have a detrimental effect upon the preservation of archival materials. Try to keep the temperature at one level 24 hours a day, 365 days a year; don’t change settings for nights or weekends. While this may be difficult to maintain in a home, the perfect temperature is recommended to be 67 degrees Fahrenheit or about 20 degrees Celsius the humidity level should be about 47 percent. Keep objects away from heat sources such as furnace vents, fireplaces, warm lights, and direct sunlight. 

Pests: There are a variety of insects that can damage paper, photographs and leather artifacts; primarily, silverfish, firebrats, carpet beetles, and the book louse. In general good housekeeping is the best method of deterrence. Regular inspections of stored collections provide the cheapest and safest method of safeguarding against infestation. Screening on windows and doors will aid in keeping out larger pests. In addition, fresh flowers and plants should be inspected before being placed in the vicinity of your artworks. When infestations are suspected, sticky insect traps can be placed under cabinets and cupboards. These traps do not poison insects; they aid in assessing the numbers and types of insects that are present. In general, insecticides should not be used on or in the vicinity of archival materials. Insecticides can cause fading and discoloration of paper, leather, and parchment. If you find an infested item, place it in a sealed plastic bag and contact a professional immediately. 

Pollution: Dirty air! You may wonder at the term, but air pollution does not merely affect our health, but also the health of your paintings. Tiny microscopic particles of pollution settle on the artwork and affect the paint and the appearance of the work. Research shows that not until at least 12% of the work has been affected will the normal human eye be able to detect the effects of pollution. 

                                 

Mold: Areas of high humidity and damp are highly susceptible to damage by mold growth. Any appearance of mold must be immediately removed; the best way is to use a soft brush and low suction vacuum cleaner. In case a vacuum cleaner is not available brush the mold onto a paper and then dispose off it. The aim is to not let the spores of mold spread in the air. Also remember not to use the brush again without cleaning it effectively. 
So now that you’ve read about the factors that can cause damage to your artwork, let’s see how their effects can be prevented or mitigated: 

Framing: While framing ensure that the board and mount are made of acid free materials. Paintings, especially those made of natural pigments, like the traditional Warli artworks, should be framed under glass so that the pigments do not flake due to environmental factors or accidents. Canvas works on stretchers may sag over time, it is best to get them tightened or re-stretched at a professional framers, every five years. 
Storage: At any point of time if you need to store any artworks, especially paintings need extra care. Place them flat in a crate if possible and ensure that the wood used for the crate is acid free. Paper works and photographs need more care while storing. Keep a regular check on stored artworks of artists to prevent the prevalence of pests, mold etc. 

Cleaning: Clean artwork gently, dust frames or treat with a soft brush, rather than applying water or cleaning fluids. At all times ensure that cleaning fluids or water do not touch the varnished surfaces of oil paintings. Do not directly spray cleaning fluids onto the glass of a painting; apply them on a duster first. Frames can also be susceptible to damage from cleaning fluids, dust them carefully instead. In the case of photographs or prints make sure you don’t touch them directly or you could leave prints. If by accident any artwork does get wet, dab it gently and leave it to dry, never rub! 

Moving artwork: Paintings are at risk when you move them so do not do so until absolutely necessary. Remember to clear the way of furniture and other obstructions. If you feel that you can manage moving it on your own, carry the painting with the artwork facing you. Remove all items like jewelry, belts etc. to avoid scratching or tearing the surface of the painting. 

Most people spend a huge amount on the artwork they purchase; unfortunately none of the artwork will come with a maintenance manual. If you practice the suggestions we have outlined above you will be able to enjoy the viewing pleasure of your artworks for a long time. 

How to Package and Ship Paintings. 

Fast Facts to preserve your artworks: 

• Avoid direct light, frame artworks using a UV-coated or no-reflecting glass 
• Do not place paintings near a heat source or air-conditioning vent 
• Mitigate the effects of pollution by framing all works using acid free mounts and boards 
• Never spray insecticides near or on stored artworks 
• Regularly inspect and clean stored artworks 
• Place paintings flat in a crate while storing 
• Never spray cleaning agents directly on a painting or frame 
• Remove mold using a soft brush and low suction vacuum cleaner 
• Be very careful while moving artworks.   

How do I package a ROLLED painting for shipping? 🗞

Packaging a ROLLED painting. 

Below are instructions for how to package: 

Rolled canvas paintings 🗞 

Paintings on canvas up to 72”x72” may be taken off its stretchers, rolled, and shipped in a heavy duty mailing tube between 8” and 12” diameter, depending on the size of the canvas. Make absolutely certain that your painting is completely dry before attempting to roll it. 
What you’ll need: 

              

· Glassine paper or acid-free archival tissue paper 

· Heavy duty mailing tube with plastic end caps no smaller than 8” in diameter and up to 12” (depending on the size of your canvas). 

· A second tube of smaller diameter for inner support. (You’ll roll your artwork around this tube and insert it inside the larger tube.) 

· Packing tape 

· Bubble wrap 

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1 – Sandwich your canvas between two layers of acid free archival paper. Make sure that the canvas is completely covered by the paper. 

2 – Roll the paper-covered artwork—paint side outward—around the smaller tube to provide inner support. DO NOT roll too tightly as this can damage the painting! 

3 – Next, roll a layer of bubble wrap around the artwork for padding and to seal out moisture. Seal completely with tape. 

4 – Place this tube within the outer mailing tube. Fill extra space at the ends with extra bubble wrap, but take care not to crush the edges of your painting. Place the end caps on and seal them shut with packing tape. 

5 – Affix the shipping label to the package and put clear tape over the label so it doesn’t get removed during shipment. Clearly mark the tube as “FRAGILE.”