Five Tips for Investing in Art
Jennifer and Karl Salatka are long time supporters of Pittsburgh Glass Center and always attend the Art on Fire Celebration & Auction. They have an outstanding art collection on display throughout their home including sculpture, glass, paintings, ceramics and more. They live with their art and clearly enjoy everything that they have purchased over the years.
“If one has the wherewithal to purchase beautiful and intellectually challenging collectibles, whether it be high art or crafts, buy what you truly love and rely and temper these decisions on self-attained and expert advice. Make an effort to understand the artist's aesthetic, whether this is by reading about or actually meeting the artist. And, if a consideration as to possible monetary appreciation is important, my advice would be to consider emerging artists, establish gallery relations and/or buying at auctions. Again, always buy what you love, understand, and try to establish a coherent collection,” expressed Karl Salatka.
The Salatkas have worked with Art on Fire sponsor CooksonPeirce for many years to help them manage their wealth so that they could have the privilege of investing in art.
"It's clear that emotion should drive the selection of your art. However, it should never drive your investments. Fear, greed and impatience destroy the wealth you need to purchase the art you love," said Daniel S. Henderson, President & CEO of CooksonPeirce Wealth Management.
The Salatkas also rely on the expertise of local galleries such as Concept Art Gallery to help them along the way.
“Jen and Karl are our favorite kind of collector. They truly love the artwork they purchase, and are interested in educating themselves thoroughly about each artwork they consider collecting. It’s been our sincere pleasure to watch their collection grow to the amazing trove of modern and contemporary artwork it now is,” said Alison Brand Oehler of Concept Art Gallery.
Together they have come up with a few tips for investing in art.
Buy what you like. Don’t be too focused on how much the work will appreciate over time. Buy what makes you happy and you want to live with in your home.
Meet the artist. If possible, find out more about the artist and visit his or her studio to learn more about the process.
Buy art from emerging artists. In addition to investing in high-end art, consider purchasing art from emerging artists. You’ll be giving their career a boost, plus the art is more affordable.
Diversify. Buy a variety of different art.
Consider buying at auctions. The pricing is very market-driven and you have access to artist’s work that is rarely offered at retail. The Art on Fire Celebration & Auction on September 25 is the perfect opportunity!