Chapter 3: Art Investing Scams To Be Aware Of Scams That Are Common
There are several scams that are common today and the web has made it very easy for you to become taken advantage of. You can avoid these scams because you know about them, now.
Be aware of those insiders who would purposely run up the auction record in an effort to inflate the value of the pieces. This can happen often and without any clear indication. You should take the time to truly understand the value of the piece and find out why it has increased in value. Here, you want to learn from other's mistakes and be wary of anything that seems to be too good to be true.
Titles are important for ownership, obviously! You will find that many times, scammers are likely to not have a clear title when they are selling the art and this in itself can cost you plenty of money if you haven't taken the time to learn how to invest in this information. Take the time to make sure that the antiquities dealer has a clear title to the piece of art that they are selling to you.
Look for non authentic pieces. A common problem that you will find is that scammers will pose posters or copies of the piece of art as an original and they could very well have a good looking authentication paper that you could fall for easily. Many do but you will want to make sure that you know that the piece is authentic by working with your own appraiser on it whenever it is possible to do so.
Don't fall for the hype. In some cases, it is obvious that people will fall for situations the hype of the piece of art or the artist causing the price to jump dramatically. While this could be a sign of supply and demand, it doesn't mean that it will stay this high and keep its value. If you are one of the lucky ones to purchase a piece before this started, selling with a high price tag when the rage is in full force can often save you a good investment. But, don't buy when the prices are elevated for no real reason.
It may not be real! Believe it or not, this is the oldest scam in the book but people fall for it over and over again. You may find that a piece has a fake signature on it. You may find that there are no authenticity papers with the work and you may believe it to be that last hidden piece from the artist. Yet, what you should realize is that it may be, and probably is, a simple fraud that you could fall for.
These scams are the most common ones that are out there. There is one simple rule that you need to take to heart when it comes to purchasing art like this. That is that if something seems to be too good to be true, it probably is just that.
Fernwood Art Investment
Yet, that is not the way that it always happens and just happening to find a collection that will sell that well so quickly is something that experience art collectors are able to do.
Art Investing In Expensive Toys
Over time, they potentially have the ability to make you a small fortune if they make a name for themselves. Here, you can benefit by investing in the artists working under him and perhaps gain some of the qualities that you enjoy from the original painter in that of his or her student artists. That is that if something seems to be too good to be true, it probably is just that. This information nearly always needs to be authenticated by a professional before you should invest in it.
)Legally, any type of art show must provide you with a list of prices for all of the works that are available for sale in that show.
At the end of the day, there is nothing left and therefore the laws of supply and demand play a role and the value of the piece of art that you purchased has increased significantly. This is in fact the best way for you to check your current investment levels. You may find that an artist has caused this change himself or it may be due to the industry. This is what the artist has become known for designing.
|
