When You’re Young and Professional, Buying Art Early Puts the Ball in Your Court
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InLiquid’s Young Professionals Night is just a few days away! This notable opportunity for young and aspiring professionals of different backgrounds offers the chance to connect with a number of organizations, each offering unique means of getting involved in Philadelphia’s professional network. In tandem, we encourage young professionals to start their art collection by placing their bids on our silent auction pieces. But the question persists: why invest in art? And why should anyone start collection art young?
It’s widely known that art investment has a long history—think Jackson Pollock and Andy Warhol—and has typically deemed itself esoteric exclusivity, impossible to enter as an artist, too much to afford as a consumer. However, things are different today thanks to photo sharing apps and tech-savvy millennials’ and Gen-Z digital natives’ use of it. Exclusive experiences are now capable of being inclusively shared.
While some long-established auction houses may be tempted to maintain their old ways of working, the art market is rapidly moving online and transforming the opinions of investors and this throwing the proverbial ball in a younger market’s court. With price points of up-and-coming artists starting at an accessible point, value accrues within time. If you’re at all familiar with fantasy leagues, the art market (believe it or not) is very similar. The key is to know who’s hot at the moment, and whose work is going somewhere. With a little knowledge of art history, and following the artist’s connection with their culture, generation, and in some cases the political, socio-economic climate, if the artist’s body of work can resonate meaning for decades later–you want to add that artist to your “team.”
If you want to learn more about investing in contemporary art, take a look at our conversation with Philadelphia based art consultant Barbara Harberger.
And be sure to learn more, and experience first-hand, Philadelphia’s art market by joining us for our annual Young Professionals Night!