Art involves a wide range of products and activities that require abstract thinking, imagination, practice, and technical skill. There are different types and forms of art, including crafts, design, photography, drawings and prints, and performance art. Other forms of art also include installation, sculpture, mixed media, ceramics, assemblage and animation art, and others.
Art and Its Functions and Forms
Art has many functions, one being to communicate feelings, emotions, and messages. It is also a form of entertainment, be it movies, theatre performances, or anything else. Art has an important function in bringing people together and advancing universal values such as cultural diversity, tolerance, freedom, peace, human dignity, equal rights, and social progress. Some types of art are considered more extreme than others, one example being art brut. This is a form of art, including sculptures, drawings, and paintings by children, patients in mental hospitals, and persons on the margin of society. Outside art is also created by persons on the fringes of society, be it the uneducated, mentally ill, and anyone outside mainstream culture. There are other contemporary forms of art such as internet, cybernetic, or digital art which is based on computer-generated images and forms. While some artists focus on contemporary technologies and forms, others produce religious texts and images such as illuminated manuscripts. These are Jewish, Islamic, Christian, and other texts decorated with geometric designs, images, and figurative illustrations.
Materials and Techniques
Artists use different materials and fabrics such as canvas, photos, cardboard, plastic, metal, newspaper cuttings, and others. Drawings are created using pencils, pen and ink, pastels, conte crayons, charcoal, and chalk. Other materials and techniques used for painting include water colors, oil, panel painting, ink and wash, fresco painting, etc. Famous movements are Minimalism, Abstract Expressionism, Fauvism, Realism, Romanticism, Rococo, Baroque, and Mannerism.
How to Effectively Invest in Art
Investing in art offers many benefits such as financial returns, value, and personal satisfaction. Reports indicate that the annual return on investment is about 10 percent. Paintings, drawings, sculptures, and other valuables help enhance the investor’s prestige and reputation. There are certain things to do to get started with art investments and become experienced and successful.
What to Do
The first question to ask is whether the particular painting, collection, or piece is a good investment. You may want to contact an expert in art appraisal and painting authentication for this. Obviously, this is also a good time to decide on the type of art and items you want to invest in. Paintings and drawings are usually in high demand. However, it should be noted that the art market has a cyclical nature, and it pays to invest out of style. Many artists, styles, and movements go in and out of favor during different periods. Those who are popular and talented make a comeback again and again. Investing in art that is outside the mainstream and outside the narrative is also an idea worth exploring. This is a comparative and potentially risky bargain, however, and you may want to discuss your options with an appraiser. Then there are different forms of art to invest in – fine and visual art, metalwork, mosaic, and jewelry art, icons, printmaking, tapestry, ivory carving, relief sculpture, etc. Printmaking, for example, was popularized by artists such as Robert Rauschenberg, Willem de Kooning, MC Escher, and James McNeill Whistler. It is a good idea to get familiar with the work of famous artists to find out what type of artwork has the potential to grow in value over time.
You may want to think of how art fits into your portfolio and with your other investments. Obviously, this is one way to diversify your investment portfolio and add value to it. Finance experts point out that art is one of the least regulated, illiquid, and most opaque solutions to invest in. There are times of market downturns, and investors are advised to buy liquid assets first and then look into the art market. Examples of liquid vehicles and assets include currency and cash, long-term investment vehicles, receivables, and cash equivalents. Long-term solutions to consider include bonds, ROTH IRAs, certificates of deposit, and physical assets such as equipment, machinery, plants, and machinery. Adding artwork to an investment portfolio that contains long-term assets is a good way to benefit from a booming market and diversify the gamut of vehicles with a potential of good returns. Being a tangible asset, art obviously meets the requirement for portfolio diversification and is a good choice for sophisticated and experienced investors. Some works of art by famous artists can bring huge returns. This is the case with Picasso's "Les Femmes d'Alger which was recently sold for $47 million. It pays to look for positioned goods of this type if you have enough cash on your hands.