In accordance with its use, artwork can be divided into three categories: decorative art, collectable art, and investment art.
Decorative art is used to enhance spaces. The art pieces are rarely originals by famous artists and generally possess little intrinsic value. Decorative art does not usually appreciate in value, and therefore is not a lucrative investment.
Collectable art refers to art pieces that are bought based on the assumption that there is already an existing market for them because there are other interested parties. If it is a handsome piece, keep it, but if it holds no strong interest to you, sell it. Collectable works are not long-term investment worthy.
Auctions can be a good place to start in your pursuit of artwork. If you’re a cruiser, almost every large ship has an “at sea” auction opportunity to buy a less expensive piece for a few hundred dollars or so. Don’t forget these are unframed prices, so be prepared to spend another hundred for that expense. There are many online auctions, but you are relying on a picture for the only look at your art and the colors may not be accurate when the print arrives by mail. Try visiting a local gallery first and get familiar with certain artists you like.
The easiest way to find art auctions in your area is to do a search online. Nearby antique or art stores can be useful resources as they often carry pamphlets or fliers advertising regional art auctions and sales. Lastly, explore online auction sites such as eBay, where you can purchase articles without leaving the comfort of your home.
Once you’ve been announced as the winner of the auction, it’s time to pay for your new prized possession. In most cases, credit cards are accepted, though not all locations accept plastic. For higher priced items, most auction houses request that you pay through your bank with a cashiers check.
Purchasing fine art at auction is a great way to explore the art world. The auction itself can also provide a great story to accompany the beautiful new piece hanging over your mantle place.