Art-buying tips for eager investors

Well in advance of the fall exhibition and auction seasons, the August issues of Worth and Art & Auction magazines offer tips on a perpetually controversial subject: investing in art.

In a special section on “Shared Passions,” Worth points out that an estimated $10 billion of art is sold in the U.S. each year, and it offers advice on turning art collections into “aesthetic and investment legacies.” Strategic timing is crucial, the magazine says. Savvy collectors do not rush out to buy a piece by an artist whose work just commanded a stratospheric price at auction. They seek out undervalued sections of the market, such as Buddhist and Hindu sculptures that are “earthy yet spiritual, with prices not yet entirely transcendent.”

Art & Auction offers a section on “trend spotting” that tracks the commercial rise of, among other artworks, 16th to 18th century Spanish painting and Robert Mapplethorpe’s photographs. French furniture hasn’t done so well, but -- in art-market speak -- that may mean now’s a good time to buy.

Lest A & A readers get carried away, art-market reporter Godfrey Barker offers a note of caution. Most artworks go down in value, he writes. “The most fundamental lesson is that money is mostly made on the art market by accident. Even then, it is rarely made without knowledge.”