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art proving to be a good investment - especially South African old masters
Alette Wessels
With financial analysts finding it increasingly harder to predict the foibles of the investment world, including the volatility of currencies, local art - always a stalwart investment - appears to be reaching new highs, with a
local art gallery saying that as "fast as we get paintings from old South African masters coming in, the faster they go out".
Alette Wessels, owner of what is one of South Africa's few investment focused art galleries, said the gallery doesn't even get time to hang the new stock on the walls.
"Right now there appears to be a frenzy for acquiring real investment art. Last year a Pierneef was sold for R300 000 and earlier this month another was sold for R176 000.
In fact, the return on investment in good art is, I believe, one of the best you can get - and I think this trend is going to grow."
She said she has definitely detected a strong trend for people to add to their investments by acquiring quality art. "If people are looking for good returns on their investments they
should look for artwork from artists such as Alexander Rose-Innes, Piet van Heerden, Pierneef, Maud Sumner, Walter Battiss and Alexis Preller to name a few. Right now people are clamouring for artworks by these old South African masters. Frankly, I cannot find enough for my clients. There is a
shortage.
"Commenting further, Alette said while art has always been a
good investment, the new buoyancy in the South African art world is "incredibly good news for local art". "South Africans, in general, do not appreciate good art as much as the Europeans. But there is, it would seem, an emerging maturity in our market and a growing realisation of the value and importance of art. Art is being more revered and this is going to lift it as an investment choice. Investing in art, right now - and into the future - is going to be more of a stable investment, especially since economists around the world are really battling to predict, and peg, what is a good investment and what not. The olatility factor is huge." Issuing a note of caution, she said, however, that commercial art is often purely decorative and most will probably not appreciate greatly in value and is often hard to re-sell. You are better off to stick to artists that stood the test of time.
"If you buy art as an investment you can realise handsome returns. Investing in art is definitely one of the best
investments a person or company can make." Artists' works featured at the gallery - which opened in May last year - include JH Pierneef, Maggie Laubser, Maud Sumner, Irma Stern, Walter Battiss, Carl Buchner, Francois Krige, Alexis Preller, Hugo Naude, Eleanor Esmonde-White, Ephraaim Ngatane, George Pemba and many others. A number of
different investment art categories are catered for, including the old masters and contemporary artists. Ethnic South African art is also displayed and promoted by the gallery.
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