Owning art is good for the soul – falling in love with a work and knowing it can be a part of your world is one of the most empowering feelings we can have in life, an honouring of your style, your aesthetic, your cultural footprint – and your heart.
Generally speaking, art maintains or increases its value over time, but understanding where an artist is in the development of their practice is a vital part of making an informed decision when you buy. Within the industry, it’s widely understood that there are five distinct stages in an artist’s career, ranging from amateur, and emerging/ early career, to mid-career and established artists, and ‘blue-chip’ – artists who are widely recognised and/ or considered famous.
Why does it matter? Well, as with any business, a growth trajectory represents time, creative investment, clarity around purpose and form, and evolving style and technique, all of which directly impacts the work produced. This can positively or negatively impact investment opportunities.
Imagine you have found a work you absolutely love, but it is a little outside of your price range. A quick Google search directs you to an online art gallery that offers up a range of other artists, some of which are priced far lower. Do you compromise your immediate attraction to the higher-priced work and redefine your search according to price?
It’s a subjective question, but it begs many others, notably, how much do you know about the artist whose work you are interested in? How long have they been practising? Do their works have a clear provenance? Have they won awards for their work? Does the price reflect a personal or sentimental value rather than market value? Has the artist ‘made up’ a price for the work that reflects their passion for the work? Or have they aligned the value to artists further along in their career path, thereby confusing accurate value with a desire to be seen to be valuable?
Sydney based artist Ben Randall
The stages of creative careers are often far from linear, with artists moving back and forth between them or experiencing them differently. To work out where an artist is in their career, it is worth considering the following. In the early part of an artist’s career, many are focused on finding a unique ‘voice’, building a portfolio, developing their style, and attempting to sell work in a professional context. Often, early-stage artists will be developing a range of skills and techniques and testing the water, so to speak, and many will have other income streams as their work is not established enough to have significant value, or collectability, although this is by no means always the case.
Gaining recognition within local art communities, developing relationships with galleries, curators or venues, and beginning to sell work consistently marks the next stage. This establishing phase will include building both a cohesive body of work and the professional networks to support this, as well as developing a social media and web presence. Transcending into a mid-career stage sees artists locking in consistent sales and exhibition opportunities, as well developing a signature style or technique, and being recognised within their creative field. Many will go on to be represented by a gallery, or have regular commissions, and will be able to make a living via their practice.
Established artists will have a significant body of work, will show in major exhibitions, undertake significant commissions and be collected by museums and private collections. Notably, this stage will see market stability for their work, which enhances their reputation further, to the point where they become influential to other artists, and often involved in mentoring.
Blue-chip artists are widely recognised and considered ‘famous’, their work held in major collections and museums, as well as being influential in art history and critique.
It’s part of Bison Art’s remit as leading curators of emerging and mid-career Australian artists to know the provenance of the creatives we represent, to understand where they are in the scope of their career, to recognise mid-career artists with developing styles and a solid sales trajectory, and advise them on audiences, price guides and market trends.
We represent our artists, as opposed to other sites which allow self-representation and – crucially – personal approaches to pricing. Our curatorial expertise reflects many years’ experience and solid and ongoing connections throughout Australia’s burgeoning art scene. The decision-making processes that define the artists Bison represents are multilayered. Our artists are dedicated to continually developing and growing their practice into bodies of work that can be referenced and critiqued. They publicly exhibit their work, appear in collections, apply for art awards, and take up developmental residencies that forward their career.
This is the sweet spot for investors – the artist has proven their sustainability in the market, pricing for their work has stabilised but is showing consistent growth, they are increasingly recognised for their practice, and their works remain relatively affordable compared to established and blue-chip artists. All of this indicates is a strong investment opportunity, the chance to buy works that will increase in value – potentially dramatically – especially if the artist is represented by a reputable curator.
With our innate understanding of where each of our artists are in their careers, we are able to advise them on competitive pricing relevant to their work and market trends and demands. It’s our job to balance the emotional appeal of art with its potential investment potential.
Buying art is one of the most subjective choices you can make in life; acquiring art from a reputable gallery offering objective advice can mean the difference between a speculative and a sound investment.
By H Morgan-Harris
This is general advice prepared for informational purposes without taking into account your objectives, financial situation or needs. It is recommended that you contact your financial advisor before making any investment decisions.
