How to spot artwork that could be worth a fortune
Original art is expensive. So, before handing over your money you want to know that what you are buying is not just any pretty picture that could have been produced by your five-year-old labrador, but potentially a real masterpiece.
Perhaps you've seen a piece of art for sale in a local coffee shop or doctor's surgery that you really like. Before you even think about handing over the £100 plus that it is probably on sale for, it's worth doing a bit of research on the artist.
Find out if he or she trained at a well known art college. If the piece is by an alumni of The Glasgow School of Art or St Martin's School of Art, for example, it has been produced by someone with a recognised artistic skill.
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Find out where else the artist exhibits; and if he or she has had any notable commissions. If the answer is only at the doctor's surgery and no they've never had any commissions, it is likely that the artist is a competent amateur. If you really like the artwork and can afford it, you are likely to be purchasing something that you can enjoy, but it is unlikely to go up in value in the future.
If you are looking to specifically invest in a piece of work that will appreciate in value, you need to do a bit more homework and target where you go to view art on sale. Even then you will still be taking a gamble, but you will increase the odds of your backing a winner.
Go to the final year degree shows at eminent art colleges. You never know, you may be able to pick up a piece of art at a very reasonable price by someone who's work could go on to become as well known and as expensive as that by Tracey Emin. The Royal College of Art is currently selling limited edition prints by its graduates and visiting tutors here.
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Check out private galleries too. If the staff are knowledgeable about the artists they are showing and the gallery has been established for some time this shows that they are professional art buyers and don't flog any old tat.
It's still worth doing some of your own ground work on the artist that you are interested in, however, look into how many other galleries he or she is exhibiting at and if they are a Royal Academician (RA); a member of the prestigious New English Art Club (NEAC); a member of the Royal Institute of Oil Painters (ROI); or, a member of the Royal Watercolour Society (RWS). Being part of one of these groups shows that the artist is very well regarded and if they show work at a number of galleries nationally and even internationally they must be particularly well thought of.
It's even possible to uncover a treasure on ebay, in a charity shop or at a car-boot sale. Just look for pieces that have been signed and see if there is a gallery label on the back. If it's been exhibited in a well thought of gallery it must have some artistic worth and possibly financial value. And, if the artist is found to be a member of one of the organisations mentioned above you have a greater chance of being on to a winner.
Like Dr Marten boots, artists and different styles of art fall in and out of fashion. But a film, a book or a play about a certain type of art or a little known artist can all of sudden bring related work into favour again and vastly raise its value. So if you can spot a trend just before it hits you could be on to something too.
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