Art
investment can be picture perfect move
Ib
Jorgensen, Sunday Independent, November 24 2002
The
collapse of the global share market since the disasters of September
11 has focused a new interest in the art market as an alternative
investment area.
The art market has, over the last 20 years, proven to be an extremely
successful sector in which to invest. With the right understanding,
the 'eye', to select, or with the right advice from a reputed gallery,
art can be a very advantageous and profitable investment.
The Irish art market in the last 15 years has gone through huge changes.
Firstly, the vibrant economy has encouraged many Irish buyers to collect
and invest in art. Secondly, the Irish collector has gained a good
understanding of the value and the merits of a painting and is therefore
more comfortable with his selection.
As a working gallery-owner I have observed in the last 11 years that
great capital gains have been achieved in the buying and selling of
paintings, watercolours, drawings and sculpture.
Many clients have achieved very sound returns over a relatively short
time. To give an example, a client purchased a Louis le Broquay from
me six years ago for £5,000 and has recently sold the same painting
for €23,000. This is a good example of how buying with knowledge
and a facility to 'read' a painting can give a very profitable return
on the investment.
For the keen collector I would like to recommend a handful of artists,
equally for pleasure but also, this being the point of the article,
for investment. Look for good works by Liam Belton, Tony O'Malley,
John Shinnors, Nora McGuinness, Neil Shawcross, Evie Hone, Mainie
Jellett, Colin Middleton, Patrick Pye, Conor Walton and Mike Fitzharris,
amongst others.
In sculpture I would suggest that you cast an neye over the works
of John Behan, Carolyn Mulholland, Conor Fallon, Elizabeth le Jeune
and Olivia Musgrave. In order to offer a more objective overview of
the choice out there I approached a number of the leading Dublin Galleries
for their suggestions as to the artists who represent a sound investment.
Jim Gorry, of the Gorry Gallery, stresses how important it is to look
for quality in a painting and points out that although some 19th-century
artists may be considered unpopular now, it is still advisable to
collect James and Francis Danby, sons of Thomas; James Arthur O'Connor
and George Barrett should also be sought out.
David Britton of the Frederick Gallery went for Mark O'Neill, Blaise
Smith and Niccolo Caracciolo, Whilst Josephine at the Rubicon recommends
Hughie O'Donoghue, Eithne Jordan and Nick Millar.
Sarah Longley, Brian O'Casey and Nakiko Nakamura were Antoinette Murphy's
choice at the Peppercannister Gallery, whilst over at the Solomon
Gallery Suzanne Macdougald suggested Martin Mooney, Hector McDonnell,
Brian Ballard and Ronan Gillespie. The Hallward's Mary Tuohy selects
Robert Clarke, Michael Canning, David King, Cormac O'Leary and Sarah
Walker.
The secret of good Buying lies in seeking out quality.
Ib
Jorgensen is the owner of Jorgensen Fine Art, 29 Molesworth Street,
Dublin 2.
Original article:
http://www.independent.ie/business/art-investment-can-be-picture-perfect-move-26245533.html
