If you are looking to invest in art but you have a price limit, this blog post is for you. Affordable is a subjective term based on somebody’s financial circumstances – especially in the world of art.
What is affordable to you may be too expensive for somebody else, which is why in this blog post, we are going to be listing the best affordable art to invest in that is under the price point of £10,000. One of the fastest-growing sectors of the contemporary art market includes works that are priced under £10,000.
It’s important to note that the average value of art is increasing – and according to the Artprice Global Index, the value of art has risen by 30% in the last 20 years. This rising trend isn’t expected to drop any time soon.
Read on for some of the best affordable art to invest in, including blue-chip art, old masters, and emerging artists. We’ll also be providing you with information about our very own London art gallery, and how we can help you source art within your budget.
Finding Art Under £10,000
There are several ways you can purchase art to add to your art collection – one of the main ways being through art galleries. Art galleries are often home to art advisory services too, which can navigate you through the art market and guide you through the process of buying the right piece of art at the right time.
At Grove Gallery, you can utilise our expert art advisory service to gain an insight into the art market – our dedicated team of art experts can advise you as to what is the best art to buy to suit your budget, as well as the right time to buy. We can share our knowledge of the industry, including the various artists we work with, to help you build or grow your art collection.
Another place you can source pieces of art is art galleries. Art galleries typically refer to the secondary market – selling pieces of art that have already been purchased and held. Art auctions take place both online and in person, although often, people prefer physical art auction houses to assess the art in person.
Art auctions can be competitive, and it’s important to know your budget beforehand – especially if you are new to the world of art investment. However, if you are determined to win a particular piece of art at an auction, you should prepare to exceed your budget.
Finally, you can explore art fairs to source original works of art. Often, art fairs are full of pieces created by up-and-coming artists, and allow you to purchase art directly from the artist. If you plan on attending an art fair to source art to invest in, it’s important to have a knowledge of the industry beforehand.
This is because not all pieces you purchase at an art fair will increase in value or even hold their value – some pieces may drastically drop in value, so be sure to conduct thorough research of the artist and industry beforehand.
Blue-chip art refers to artwork by artists that have a history of creating art that increases in value. The term ‘blue-chip’ is borrowed from the stock market, referring to companies that have a track record of generating profit.
Blue-chip artists are well-established in the art world, and their pieces are widely recognised. They have a reputation for creating art that not only holds its value but increases in value over time. Ultimately, blue-chip art has a long-lasting cultural appeal, making it a safer option for art investors.
Some blue-chip artists may include the likes of Keith Haring, Pablo Picasso, Andy Warhol and Jean-Michel Basquiat, amongst others. Blue-chip art does not hold the same value as Old Masters – however, you can purchase pieces of blue-chip art for under £10,000 – and sell them for over £10,000 at the right time.
Famous street artist Banksy is a prominent figure in the blue-chip art scene. At Grove Gallery, you can find Banksy pieces valued at over £50,000 (for example, a limited edition print) – but you can also find prints you can invest in for under £5,000. Chat with our team today to learn more about the Banksy pieces we have available – or explore this blog about Banksy’s most famous art.
Red-chip art is another option if you’re looking to invest in art that suits your budget. Unlike blue-chip artists, red-chip artists are actively creating work on both the primary and secondary market – they are new to the art market and don’t have the history of generating art that increases in value as blue-chip artists do.
Red-chip art is the polar opposite of blue-chip art. Artists in this market will skip dealers and art galleries, instead utilising the internet (for example, social media) to promote their artwork.
They often generate success quickly instead of growing their reputation over time. It’s important to note that red-chip art is not predictable – however, many red-chip artists can sell their pieces for over 200% of their reserve price at auctions. Some red-chip artists will also create digital art that they convert into NFTs.
Emerging artists are artists that haven’t gained popularity yet – they’ve just broken into the art world and haven’t stepped foot into the red or blue-chip market yet.
If you wish to invest in work by emerging artists, it’s important to have a firm grasp of the art industry. This is because it’s difficult to predict whether pieces by up-and-coming artists will hold their value or increase in value, as new artists don’t have a track record of success.
However, new artists may produce high-quality paintings and framed prints or wall art that not only look great but can increase in value, making them a great investment opportunity.
At Grove Gallery, we work with a range of emerging artists, for example, Opake – an up-and-coming street artist. From a young age, Opake (Ed Worley) was fascinated by graffiti art and began experimenting with tagging. This developed into large-scale murals.
Now, Opake is known for depicting cartoon characters in a unique way; for example, Pink Panther among skulls. ‘Insanity’ is a key theme in his work, inspired by the drug-induced psychosis he had experienced. Learn more about Opake here. Likewise, if you wish to buy art created by up-and-coming artists, speak to our team at Grove Gallery today.
Can You Find Old Masters for Under £10,000?
Old Masters artwork is the top tier of artwork – referring to art created by the world’s most renowned artists. Because ‘old masters’ refers to the most valuable and limited-edition artwork in the world, there’s very little chance of you finding a piece of art in this category for under £10,000.
Michelangelo and Leonardo da Vinci are both examples of Old Masters artists – names that are known around the world. Their artwork is often sold for millions of dollars, with a Michelangelo drawing being sold at Christie’s recently for $21 million – the highest price paid for a piece of work by the artist at auction.