Investing In Aboriginal Art
“Sotheby’s sales on Tuesday provide the most cogent proof that the art market has lost none of its irrepressible vigour.”
Souren Melikian, International Herald Tribune, Feb 09
In a time when the world could be considered to be experiencing unprecedented economic turbulence, investment in fine art is still holding its own— and none more evident than aboriginal art. In the past 15 years it has increased at an average rate of 21% pa compounded — or over a staggering 1,000% in overall value [Australian Art Sales Digest]. ie; a quality piece of aboriginal fine art painted by a renowned artist that cost $,1000 in 1994, would now be worth well over $10,000 today.
By way of interest, The Australian National Gallery in Canberra paid a record $2.4 mil for a Clifford Possum Tjapaltjarri painting at Sotheby’s July 2007 auction, that had originally sold for only $1,200 exactly 30 years earlier!
One advantage of investing in Aboriginal fine art is that you can appreciate the aesthetic value of the work whilst the painting itself appreciates in financial value. However, we should point out that we are not qualified as investment or financial advisers — just lovers of indigenous art with some lateral suggestions on how to supplement your investment portfolio. We should also point out [rather obviously] that you don’t need an investment portfolio to appreciate aboriginal art — just a blank wall and a comfy chair will do.