Dearer than dollars: Buying art because you like it

It isn’t the dollar sign and multi-digits by the title that makes a work of art valuable.

And it isn’t its potential to appreciate in value.

Merlin Berger says it’s about “what it does to your heart and mind.”

In an interview for North Idaho Business Journal, Berger – owner of Frame of Mind in Coeur d’Alene – lamented the buying of art as an investment.

Although not as common in the current art market – the current fad is to purchase what you actually like – it’s been especially common in modern art history.

Around here, the practice was particularly prevalent when the Western art craze had art collectors buying up practically anything with enough sticks, pines and cowboy imagery – unless it went for Native American stereotypes instead.

Maybe it’s because we hear of Basquiat paintings selling for $1 million that some are tempted to collect art for its potential ROI, rather than, you know, because it’s nice.

There are still new guides to identifying “valuable” art being written and published. Buyers attempt to study what gives art value, and ironically can learn a lot about art, historic and modern.

But most artists aren’t creating work just to sell it.

Don’t get me wrong: Artists need to eat, too.

And selling work is the measure of success. Nothing says “I really like your work” like buying the sculpture just so you can take it home and look at it every day.

But it’s that end result – creating something people enjoy and want to see/hear/read/whatever – that really drives the work.

After all, if it was just about the money, artists would study stocks instead. And last I checked, no “top 10 most lucrative careers” lists included artists.

For now, I’m probably preaching to the choir.

These days, most buyers seem to purchase for “love,” and even newer artists seem to find support on web platforms like Patreon allowing people to support artists with small donations or purchases (much like the patron of an earlier century).

Berger said it well:

“The real true art lovers are people who buy your art because they like it.”

So if people start to tempt you with art collecting “investments” for retirement or your grandkid’s college fund, might I suggest purchasing a bond and a nice handmade scarf instead?