An Insider’s Guide To Becoming A Smart Art Investor
Talenia Phua Gajardo, founder of The Artling, lets us in on a few secrets…
There’s a chance that the painting you bought to match your sofa may increase in value over a time, or it could still be worth next to nothing after sitting in storage for decades. When it comes to investing in art, you are dealing with a fickle market that has no guarantee of profitability, and holding such illiquid assets can often mean that there’s a thin chance of quick returns.
But with galleries and online art marketplaces expanding rapidly in recent years, art investment certainly has its charm. We spoke to Talenia Phua Gajardo, the founder of The Artling, about Hong Kong’s art market environment and how to make smart investment decisions.
Art Investment is certainly very different from just appreciating art. What are the things people who are looking into art investment need to know?
The one thing to bear in mind is that an ROI can never be guaranteed and passion counts for everything. New art buyers should get started by trying to gain an understanding of the art market. While it may seem daunting, there are countless resources that are readily available both online and offline.
Things to take note of are the different parts of the art market. For example, the difference between the primary market and the secondary market; commercial and non-commercial, and emerging artists and established artists. It is vital to know what you are buying and to make informed decisions before starting to make acquisitions. A budget should also be set aside to begin with and one should attend as many gallery and museum shows as possible.
What do you think about the Hong Kong art scene? Is it a promising place for collectors?
With more mega galleries such as David Zwirner setting up his outpost in Hong Kong, collectors are gaining even more access to Western galleries and their presence is an indication of their confidence in the market. The newest addition to the art scene in Hong Kong is H Queen’s, an upcoming space that has been specially designed to house art galleries and exhibitions. M+ and Tai Kwun, Hong Kong’s Centre for Heritage and Arts, are also slated to open very soon, adding even more appeal to the scene.
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