Is the time right to invest in works of art?
Harry Smith of valuers and fine art consultants, Gurr Johns,
explains the opportunities and pitfalls of the art market.
There is a common perception at the moment that the art market
is doing very well. There have certainly been some exceptional sale
prices recently and the major auction houses (and some dealers) are
unlikely to paint anything but a rosy picture.
What is the reality? Firstly, it's important to remember
that the art market is not a single market but many, all of which
behave differently and have different interest groups and
supporters. There is a big distinction, for example, between the
market for contemporary art and the market for old masters.
