Art Prices
How do you know what makes a good investment in the world of art? There is no simple answer to this. Naturally, if you really like a work of art, and the price is affordable, you can't go very wrong. If you are looking to buy primarily as an investment, however, the price is obviously of central importance.
While you can sometimes find the proverbial masterpiece at a garage sale for $1, this is rare. At most of the places you will be shopping, whether at galleries, auctions or online, you'll be haggling with savvy dealers. For the most part, it's far more likely that you will pay too much than too little.
Before you spend any significant amount of money on art (based on your budget, naturally), you should do some research. If you are at a live auction, you can attend the preview and look up anything you are considering. With an online auction it is even simpler to do the research before bidding.
The easiest way to do research on art prices is to get a good guidebook. While no book can be all -inclusive or infallible, having one in your possession can exponentially increase your success when it comes to understanding value. If you are looking for a good price guide, I'd recommend Davenport's.
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