An Oil Painting May Come Into Its Own As An Investment

Very rich people are not always clever or good at making money. Some have inherited or stolen everything they own. However, most wealthy people are pretty shrewd and many are entirely responsible for the fortunes that they have made and retained. It is therefore interesting to reflect on why so many ultra rich people invest in an oil painting.
Although major works by painters such as Rubens and Renoir are mostly owned by governments and nations there is nevertheless a healthy market for private collectors. Private individuals and some corporations with money to invest attend auctions either personally or through agents and pay very considerable sums to own a masterpiece. They understand the investment and aesthetic value of works that might grace a board room or private collection and at the same time constitute a growing asset.
It comes as a surprise to learn that artists can be shown to be statistically among the most highly paid professional people. They are more highly paid than, scientists doctors and lawyers. Jackson Pollock created a picture in 1948 that was sold in 2006 for $156.8 million. Statistically this would account for many works not sold at all but it throws light on the value of art works that succeed when compared with other manufactured products such as buttons or motor cars. Things of beauty are joys forever, and very much more expensive than ordinary objects.
When the son of a scientist once professed an interest in being an artist he was discouraged on the grounds that art was, in the opinion of the father, for 'no-brainers'. This anecdote illustrates a common social attitude towards artists, but also something important about artists.
The son in question gave up art and became a lawyer. Had he been a genuine artist he would have been compelled to follow his passion for better or worse. He might have produced a work worth millions because in some indefinable way it would have been infused with his passion for his work. In art, emotion and hard practicalities like money are inextricably entwined.
Art investments may be thought of as investments in rarity. An original oil painting is unique even though fakes might replicate every minute detail. The fake always remains a fake because it copies something that has its own identity. Ownership of an original oil painting is an excellent investment because it affords daily satisfaction, appreciates daily and has minimal maintenance costs.
As a medium oil is favored for several reasons over water colors, acrylics and other mediums. It allows an artist to work slowly, adding textures and light that will endure without fading. It is said that one of Van Gogh's famous paintings survived a considerable time as the floor of a chicken coop before being recovered and returned to its pristine state.
A collector wishing to invest in an oil painting can now use the Internet to investigate the many opportunities that exist. At first it may be tempting to buy hand painted replicas of great works that are available. However, a better bet might be an original work by a new or little known artist. If it does please it will immediately serve the true purpose of art. If its creator becomes famous in the fullness of time it could also become fabulously valuable.