If you want to make money from investing in a contemporary artworks, it is vital to buy early in the career of an artist who is destined for success. It is usually necessary to wait for lengthy periods of time for the artist’s art paintings to gather momentum over time and increase in value. It is better to purchase when the economic climate has been weakened as prices are lower and sell when the market is strong. These are factors that all need to be considered when investing in contemporary art paintings.

Anyone can invest in contemporary art paintings. Of course it depends on your budget and what you are looking to invest in. The best way to go about investing is to do your due diligence and research first. The best places to research are the auction houses, such as Sothebys and Christies. There are others, however these have been the largest auction houses for a long time and they are worth checking. Other galleries that specialize in contemporary art are worth researching. These galleries are in every major city and most regional areas also have galleries. Local media sources are also good at identifying the galleries specializing in contemporary art. There may be a local arts section in your paper or a city publication outlining the galleries. It is well worth going to the opening nights of some of these galleries and talking to people. It will take some time to get a handle on the market, so don’t rush into anything, just enjoy contemplating the works and the right piece will come along.

When you are looking to collect contemporary art paintings that will give you significant returns, it usually involves a gamble on emerging or upcoming artists and it involves time. These artists can usually be found exhibiting themselves or are represented by cutting edge galleries in major cities or regional areas. Once again, this involves research and going to contemporary exhibitions. The dividends can be huge, however it usually takes decades for this to occur. It usually takes time for any artist to be recognized by their peers, the art scene/world, the media and to become the next big thing. For many artists, this never happens, therefore it pays to research first.

The broad scope of contemporary paintings are defined by their genre and the era in which they were created. Some consider them to commence from the 1960’s and 1970’s up until the time we live in now. They can also be defined as artwork that is currently contemporary to whichever age we are living in. Pop art paintings were most contemporary in the1960’s just as Abstract Expressionist paintings were in the decade before that.

Here is an example of how contemporary artworks increase in value, sometimes in a phenomenal way. The Financial Times recently reported that in 1986, an anonymous collector bought a 1962 Andy Warhol painting ‘200 One Dollar Bills’ for $385,000. This sounds like an expensive investment. In November 2009, it sold for $43.8m at New York’s Sotheby’s auction house. There are many such examples of amazing returns on investment. An outlay of $385 000 may not be possible for everyone, however there can still be significant returns over time if a new collector purchases for hundreds of dollars rather than hundreds of thousands.

The contemporary art market has been affected by the recent economic downturn. This has been evidenced in gallery closures, reported downturn of sales at auction houses and an overall decrease in sales. However, the Financial Times heralded a positive change in the contemporary art paintings market with this recent sale of the Warhol, 1962 Warhol painting for $43.8m.

It is an ideal time to invest when the market has undergone a downturn. There is much greater chance of investing with significant return if the market has been weakened by the economic climate. According to many speculators and analysts, this has been the case for contemporary art paintings for the last year. Savvy investors can become avid collectors in a market such as this, as the returns can yield much higher dividends in the future. As reported by the Financial Times, collectors are just starting to pay big dollars again for contemporary art paintings, so now could be considered a prime time to invest in your future.

About the Artist: Cathy Condon is an Australian artist based in the UK and Europe who works primarily in an abstract style. Her blog, http://www.catharticgallery.com chronicles her life as a traveling and working artist in the world and her day-to-day influences and impressions.

Cathy Condon

http://www.catharticgallery.com

Copyright 2009.

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1. The Queensland Gallery of Modern Art, Brisbane

Situated on Brisbane’s South Bank, the Queensland Gallery of Modern Art is considered to be one of Australia’s leaders in the modern art field. It was opened in December 2006 and focuses on trends in the art world of the twentieth and twenty-first centuries.

The Gallery is fostering alliances with the Asia-Pacific region by hosting the Asia-Pacific Triennial of Contemporary Art. This has become a major event on the international and national arts calendar. Relationships with Indigenous communities in Queensland are being strengthened by profiling Indigenous Australian artwork.

The Premier of Queensland’s National New Media Art Award exhibition showcases new works across many technologies. The artists of these works use a variety of innovative and challenging approaches to the use of computer-based art, video, artificial intelligence, digital animation.

The Award exhibition showcases new works by artists that express challenging and innovative approaches to the use of media including video, digital animation and gaming, computer-based art, artificial intelligence, and other sound and communication new media technologies.

2. Jam Factory, Adelaide

The Jam Factory Contemporary Craft and Design, situated in Adelaide’s West End Arts Precinct, has four on-site studios and is a leading centre in its field. Established and emerging artists are able to design, produce, exhibit and sell their work at the Jam Factory. Visitors can view artists in action, whether your taste is in glass, metal design, ceramics or furniture. Contemporary craft is exhibited in three gallery spaces and the glass-blowing has a viewing platform within the glass studio.

A scheduled tour of the four studios is highly recommended as this enables you to gain an insight to behind the scenes. If you like the idea of a hands-on experience in the glass studio, the Jam Factory holds regular glass blowing workshops.

3. Linden-Centre for Contemporary Arts, St Kilda

Linden-Centre for Contemporary Arts is located in Acland Street, the vibrant heart of St Kilda. This unique, not-for-profit contemporary art gallery is aptly housed in an historical building, adding to the cultural atmosphere. If you would like to experience contemporary art in a friendly relaxed atmosphere, then Linden is well worth visiting.

The Linden-Centre has implemented the Innovators Program, creating opportunities for innovative and uncompromising art to be presented in an environment that is both professional and accessible.

The vision for this gallery, which encourages audiences to enjoy and support contemporary art, is to be an evolving centre for the creation and presentation of contemporary art.

4. Australian Center for Contemporary Art, Melbourne

Melbourne’s best known contemporary art gallery, the Australian Center for Contemporary Art (ACCA) has become one of the best tourist attractions in Melbourne due to its uniqueness. Even the building with its distinctive rusty steel façade is acknowledged as a fine example of contemporary art. This contrasts with the foyer which is a combination of metal and glass surfaces. The ACCA on Melbourne’s South Bank is something all art lovers must see when visiting Melbourne.

This major contemporary art gallery is a dynamic public art space that upholds visually creative, challenging, innovative art forms of the present day. Floor presentations by artists, along with workshops and seminars, are some of the facilities provided to encourage interest in contemporary art.

This centre is home to some of the best artworks from Australia and overseas. The ACCA does not just promote and display the work of upcoming and established artists; it also sells the works on a commission basis, allowing you the opportunity to own the art that takes your fancy.

5. Ray Hughes Gallery, Surry Hills, Sydney

Ray Hughes Gallery has been situated at its current location in Devonshire Street, Surry Hills, for twenty years. This gallery holds graphics of German Expressionists, as well as representing contemporary artists from China, New Zealand and Australia.

Some of the art displayed in the Ray Hughes Gallery includes sculpture, paintings, ceramics and collages. This gallery is definitely worth visiting when in Sydney if you are interested in modern art.

With such a diverse range of art on display across the country, art lovers can combine art exhibitions with luxury travel all year round.

Karen Cooke is a professional consultant with Travel Associates, an exclusive Australian travel agency catering to the premium travel market. More helpful travel tips and suggestions are available at http://www.travel-associates.com.au

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