ART ADVISORY
ALEXIA WALKER: Value of art paints a rich and varied canvas for investors
The Investec Cape Town Art Fair invited our art advisory in February to moderate a talk about investing in art and the returns collectors can expect. The panellists, who included the founder of Artnaka, a London-based members club focused on contemporary African art; the CEO of Business and Arts SA (Basa) and the joint head of Wealth and Investments at Investec Cape Town, engaged in a stimulating conversation to explore the wide-ranging rewards that can be associated with investments in art. The discussion was particularly centred on contemporary African art and the continent. Investing in art is about investing in value. It is about investing in the potential of artists and the potential of artworks. Art has dual values: a financial one from which collectors can make healthy profits when they buy right, and an intangible one. The latter generally refers to the aesthetic value. Cultural economists have coined the term psychic returns to describe the aesthetic pleasures that can be d...
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