As the name suggests, oil paintings are made using pigments of dry oil as the foundation. Some of the most famous dry oils used for this task are linseed oil, sunflower oil, and poppy oil. Artists often use oil depending on the kind of texture and color they want to depict on the canvas. Also, some dry oils take longer to dry and process compared to others.
The custom of using oil paints started way back by the Buddhist painters in Asia in the 7th century A.D. Such prehistorical work can also be found in India, Afghanistan, and neighboring countries. Europe recognized oil paintings only in the 12th century A.D. With such a background, richness, and acceptance of oil paintings, the question arises if they make a good investment option.
Art Investment
For starters, paintings aren’t linked to the stock market; hence, a bad day at the bourses doesn’t necessarily mean a bad day for the art collector. In other words, if you have the money, investing in oil paintings can help you diversify your portfolio and act as a hedge for rainy days in the future. Let us look at some reasons you should invest in oil paintings.
Why Oil Paintings Are A Good Investment
Long-term Investment Game
If you are thinking of short-term trading in art, do not buy it in the first place. One of the key reasons why you should buy oil paintings is their long-term valuation. Oil paintings mature like fine wine; their essence increases, and so does their significance. For example, Albert Bierstadt’s landscape paintings would fetch you more than they would have during his lifetime.
Think of these oil paintings as a secure way to pay yourself when facing a financial crunch or when you need to mobilize your assets to start a business or repay lenders. However, do not forget that art is not a super-liquid asset, which means that you cannot just choose today to take down a painting and sell it the same day. You must plan to resell and allow some time for the right price.
Alternative Investment Channel
If you look at the banks in the United States, the returns on your savings bank account will be insignificant. Besides, it will not even be able to counter inflation rates (in most countries). The statistical data for returns on oil paintings over a considerable period is around 4% between 1957 and 2007. Hence, research the right artwork and invest in oil paintings today!
Buying oil paintings is better than letting money out as a private lender, too. Many rich folks tend to let out money at higher interest rates to make moolah while they sleep. While this idea may be novel, and passive income is something to yearn for, the risks associated with private lending are plenty. Even your best friends and confidants can cross you, and you might lose it all, with no legal recourse available to you. Click this for more.
Value for Money
One key reason oil paintings are more popular than any other type of artwork is that they are economical, both for the creator and the buyer. Throughout history, artists have preferred cheaper canvas and oil paint pigments over fancy material. It makes all the more sense since the result is a shining artwork!
Similarly, buyers have so many options in the 21st century. Imagine purchasing smaller artifacts that cost millions, and then, for some reason, they break into pieces. Blame the kids or your dog; you stand to lose. Moreover, the resell value for such artwork is not a guaranteed fancy return. Meanwhile, oil paintings can hang on walls, out of the way, and cost one-tenth of the price!
Creating a Social Circle
The first thing needed to buy art is passion and love for art. Due to the extra sparkle in Oil paintings simply because of the nature of the material used, it is an excellent way to be a hobbyist or an art collector.
With a personal collection of oil paintings, you can host art meets at home, create a social circle of art lovers, and grow your network. It takes care of your extra funds and allows you to have a richer social life and be the razzmatazz you want.
Conclusion
Whether you should invest in oil paintings depends on your investment goals, financial standing, and whether you are passionate about art in the first place. We’d advise investing in oil paintings only if you have a heart for art. Do not simply chase the monetary aspect of the art business.
