Why Spend Money on Fine Art?

On Saturday 24th August from 3pm-5pm, Gallery Manager, Jayn Steele, from Clarendon Fine Art in Ilkley, will be giving an entertaining and enlightening talk entitled “Why do People Pay Millions for Art?”.

This RSVP-only event will highlight all the benefits of owning original and limited-edition artwork, from both a passion and art-appreciation perspective, as well as a wealth creation and preservation position and will showcase examples of artwork from Clarendon’s expansive portfolio of emerging artists including Mr Brainwash, Simon Kenny and Christian Hook, and 20th Century icons including L S Lowry, Andy Warhol, Salvador Dali and David Hockney.

Ms Steele says: “This is a fascinating subject which I’m really looking forward to delving into. People purchase art for emotional and aesthetic reasons, but there may be other factors involved as well including wealth preservation, legacy and inheritance planning; a fact that is backed up by a Deloitte Art & Finance Report from 2021 stating that 85% of wealth managers suggest that art should be in their clients’ portfolio.

“I know from experience that some people may want to start an art collection for these reasons but are not sure where to begin. They may be confused about the difference between original and limited-edition works and whether they should focus on emerging or established artists. It can feel intimidating or overwhelming, but this talk is designed to answer these questions and show how accessible and enjoyable buying artwork can be.”

Clarendon Fine Art, which has 91 art galleries across the UK, 13 luxury cruise ships and 1 location in the USA, opened its Ilkley gallery on The Grove on October 6th 2023. Ms Steele and her team specialise in helping their clients find the perfect piece for their unique décor and budget, using software to show what a particular piece of artwork will look like in situ, plus a unique “home approval” service they will physically bring over the artwork to find the right location to make the room look perfect, before clients make a financial commitment.

Ms Steele adds: “We’ve loved being in Ilkley this past year and are looking forward to celebrating our birthday with our patrons in October. Sales have exceeded all expectations and we feel both privileged and grateful to have been so warmly welcomed into the local community”.

“We invite everyone to come to the gallery, browse the art on display and learn more about the artists, whilst enjoying a complimentary tea, coffee or glass of prosecco. And we’re particularly looking forward to joining our guests for a lively discussion about art ownership at our event on Saturday 24th August.”

To reserve your space for “Why do People Pay Millions for Art?”, which includes a complimentary drinks reception, please email ilkley@clarendonfineart.com or call 01943 262190.