How To Buy & Sell Art
The Age
Saturday April 5, 2008
How to Buy & Sell Art
Michael Reid Allen & Unwin, $35FROM THE OUTSET MICHAEL Reid is dismissive of quasi-academic purists who think that viewing art as a commodity somehow muddies the aesthetics of art appreciation. Reid, who has been working as a dealer, consultant and art educator for many years, works on the premise that "beauty demands possession". And this possession may be by individuals, the community or the state. The gravitational pull of art towards money, Reid says, can be dated from the 15th century when the Medicis laid the foundation for the creative explosion of the Renaissance. Having got any squeamishness about money out of the way, Reid then develops the fundamentals of what to look for when buying and selling art. He includes lists of emerging and significant artists and looks at tax and superannuation matters. He contends that an investment portfolio which consists of art work is far more resilient than a portfolio which contains stocks and bonds alone. His other salient point is that art as an investment is an entirely sexy proposition and admonishes investors to keep one of his buying criteria to the forefront: like what you buy. This second addition of Reid's sophisticated yet friendly guide offers invaluable assistance to beginning and advanced investors alike. But while there is a glossary of terms and a comprehensive list of resources and galleries, my beef is the lack of an index.
© 2008 The Age
