Paintings by Leonardo da Vinci, Vincent Van Gogh, and Pablo Picasso are therefore not contemporary art. Paintings of the latest electrical products, fashionable clothes, fast food shops, vehicles and so on, are considered contemporary art.
One of the biggest advantages of investing in this art form is that it is much cheaper than investing in old paintings where the artist has passed away hundreds of years ago. You can also find out about fine art investment advisory via Londontradeart.co.uk.
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A person who does not have much knowledge of paintings will normally skip this section of an art museum because they are seen as discounted paintings'. However, there is a goldmine in investing in contemporary art because of their low profile.
Since the purchasing price is relatively low, the chances of appreciation in value after the painter becomes well known can be considerable. The best strategy for investing in contemporary art is to purchase an artist's work that is early in his career before he is famous.
Unless you have inside information about the painter's career it is a game of luck. To increase your chances of success, it is best to buy contemporary art pieces when the economy is poor and prices are down.
When you see a painting that you like, do some research on the artist's background such as his past paintings, any press about him and his length of time spent in the art world. It takes many years for an artist to make a mark in the industry.