A recent news item which caught my eye, was about a father who bought his son a bottle of whisky on his birthday every year, for the first 28 years of his life. It wasn’t drunk – a terrible shame, some would say. Dad kept it secure, pending a decision about when, if ever to drink or to sell.
As reported, the estimate at auction is now £40,000 for an investment, according to Dad, of about £5,000.
One reason I was interested, was because we at www.artgallery.co.uk, are often asked what art to buy as an investment.
I was reassured to read the comments of one Whisky writer, Greg Dillon echoed the advice we give to our customers. Having identified that investment in some Whisky has been outperforming traditional forays into Gold, Wine, Classic Cars and other alternatives to the stock market., he advised caution.
On the same lines, another expert Angus MacRaild says, “I wouldn’t advise anyone to get into buying Whisky because they think it’s a quick way to make money. Second guessing the market doesn’t work. The people who rend to make money, weren’t thinking of a profit.”
And now, I will paraphrase the rest of his advice, but this time turn it into advice about buying art.
“People who tend to have made the most money, have not thought how much profit they might make; rather they were bought because they enjoyed the product.”
And further, “Chances are what you love will be loved by others, retain it’s value and probably increase as well”
As with the buying of Whisky, the cheapest Art around is unlikely to go up in value. In the same way, limited edition prints less likely than originals.
New entries into the market are worth watching in both Whisky and Art. And, buying a series from the same supplier over a period of time; tracking the development of taste or style would be more interesting to a collector than a one off.
So, going back to the advice we offer customers, “If you love it, buy it. If it goes up in value, all to the good, but in the meantime, you can still enjoy it”
Just like a “special” bottle, artworks are delivered with a signed Certificate of Authenticity from the artist. What collectors would call their provenance.
Unlike the Whisky buyer who is trapped with bottle they can’t open. With an artwork, you, your friends and family can drink your fill every day.
There is always somebody at the end of a phone to offer advice – 01666 50 51 52
Humph Hack – art curator