Wednesday, July 7, 2010

Interest In Art As Investment: Experts Opinion About Art Investment

 Unlike the West, interest in art as investment is at a nascent stage in Pakistan. Answering questions on investment basics, three galleries directors in Karachi, Sameera Raja of Canvas, Riffat Alvi of VM and Seemah Niaz of Unicorn voice their opinions about consumer attitudes and art awareness levels.

 Is Art Investment On the Rise Now?

Sameera Raja: Art investment has taken a nose dive since the recession. Personally, I feel this is positive, as earlier all kinds of works being acquired as investment with no understanding of their quality or caliber of the artist. the buyer now has become more disconcerting and capable of shifting chaff from grain.

Riffat Alvi: Art investment  is a seller market these days, old buyers are cashing in on previous investments and most new buyers are buying with the intention of gaining rapid returns.

What Advice Would You Give To First Time Investors?

Sameera Raja: I have always maintained that your acquisition should foremost be based on personal liking. You have to live with the works; if you do not love it, do not buy it.

Seemah Niaz: Buy good contemporary art that appeals to you. It will automatically enhance in value.

Do Buyers Invest Primarily In The Reputation And Ranking Of An Artist, Or The Aesthetic Value Of An Art Piece?

Sameerah raja: People buy art for both reason aesthetic and social, while some buy it for investment purposes as well. There are very few collectors in Pakistan, though the term is used very often and loosely to encompass all buyers. Each of these patrons acquires art for his/her reasons, which i felt are self explanatory.

Riffat Alvi: It is the aesthetics of the art object that impact or the buyers at first sight.

Seemah Niaz: Mainly for the reputation, unfortunately.
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