The Art of Buying Art

Thinking about buying art as an investment? Some tips from the experts:

* Check the history. If you’re buying a fairly old painting--anything that’s been sold before--know who bought it and how much was paid, says Michel Witmer, president of Michel Witmer Fine Art Inc. in Washington. Pricing a painting is more an art than a science, but such records help.

* Consider the artist’s other sales. Auction records, which can be found at most major public libraries, list sales by artist as well as by painting. Look at the prices and the value of the author’s other works, suggests Karen Hackett, principal at Tirage Art Consultants & Gallery in La Canada Flintridge.

* Look for growth. It’s a bad sign when the artist’s paintings look the same year after year, Hackett says. The best artists, whose works make the best investments, experiment with new techniques and styles, she says.

* Pay attention to the process. Limited-edition prints are popular, low-cost options for investors on a budget. But the printing process is important, Witmer says. Some require the artist’s touch on each print. In others, the prints are made photographically--just like posters, Witmer says. The further the artist is from the process, the less “limited’ the edition and the less likely that the work will rise in value.

* Get involved or get advice. If you’re not an art enthusiast yourself, find a friend or adviser who is. Those who make the best investments know a lot about art and how a particular work fits into the overall artistic landscape.

* Buy what you like. Art has no ability to produce income, says Terry King, a Denver-based appraiser. What it does between purchase and sale is hang on your wall. And since prices fluctuate and buyers are sometimes hard to find, it could be hanging there a long time. If you wouldn’t enjoy the art in the meantime, you’re probably better off with another investment.