Art and accounting

Posted on April 20th, 2007 – 4:02 PM
By Kara McGuire

It’s the St. Paul art crawl tonight. I’m also attending an art sale that will benefit the block nurse program in my St. Paul neighborhood.

Most of the art on our walls at home are original pieces, purchased at the MCAD art sale or begged from my sister, an illustrator, my dad, who takes lovely nature photos, and my friends.

Occasionally I’ll wonder if my art has any value, aside from the value of getting to look at it every day.

Since I may be in the art buying mood tonight, I decided to research how to buy art as an investment.

Like any other purchase, research it before you make it and shop around.

This pamphlet from a Scottish arts organization says to buy art you like “in case the investment works out.”

This story from Marketplace Money talks about the cheaper side of the art business. Among the tips: Prints are one way to make your way into the art market. It’s also appropriate to ask for the price. After all, you don’t need to be an artist to be starving. We all have a budget.

James Surowiecki of the New Yorker writes about investing in art purely for financial reasons, not for decoration.

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