Art, Redefined: The Luxury of Carved Wonders
If you think luxury art is all about stately oil paintings or refined watercolors, think again. Today, we're hosting our conversation on the rugged rawness and textured detail of luxury sculpture art. Here's a fun fact to break the ice - Do you know the world's tallest sculpture is 'Statue of Unity' in India, standing at a whopping 182 meters tall? Well, your investment in sculpture art might not reach such towering heights, but the returns can be surprisingly tall!
Why Sculpture Art Deserves a Spot under the Sun
Sculptures, the third dimension of the art world, have often played second fiddle to their flat siblings, but things are changing. Recent reports suggest that sculpture art accounts for around 15-20% of the total fine art market. Let's take the case of Jeff Koons, whose 'Rabbit' sculpture fetched a staggering $91.1 million in 2019. If that doesn't scream 'investment potential,' I don't know what does!
Walkthrough to Wise Investments
1. Identify Your Taste
Art is subjective, and sculpture art, even more so. Whether it’s the minimalistic charm of a Brancusi or the life-like details of a Michelangelo, identify what tickles your fancy first! Google is your best friend here.
2. Research and Re-research
The art market is as unpredictable as last year's weather. Diversify your portfolio with emerging and established artists for best results. Websites like Artprice or sculptor databases at your local library can be gateways to your due diligence.
3. Embrace the Modern and Contemporary
Just like in our personal lives, stepping out of comfort zones in investing brings rewards. With annual sales for contemporary sculpture art increasing by 8 times in the last 20 years, it's no longer the dark horse, it's potentially the golden goose!
4. Prioritize Provenance
Provenance is like your sculpture's passport and background check all in one. Ensuring genuine provenance not only protects you from legal troubles but also dictates the future sale price. As the saying goes, an artwork without provenance is like a book without words!
Making Art Work
Ultimately, investing in luxury sculpture art is similar to any other investment. It's about understanding the landscape, doing appropriate research, and following your instincts. Between us, the majesty of a thoughtfully crafted sculpture is the kind of luxury that even the Mona Lisa might be jealous of. So go ahead. Make a bold statement, make high-returns, most importantly, make art work for you!
References
1. 'The Art Market 2020,'Art Basel and UBS Report.
2. Jeff Koons – 'Rabbit,'Christie's
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