When building their fine art collections, most people pay attention not only to the aesthetics of the pieces they acquire but also to their value. A carefully chosen item can be a great long-term investment and can even make the collector famous, skyrocketing their reputation. While artworks are some of the most stable assets you can purchase, they can still lose their value as time goes by. There are many reasons why it might happen, but, fortunately, some of them are preventable. Learn how to avoid a decline in the painting’s value.
How to Ensure the Painting’s Value Won’t Decrease with Time
The painting’s value is composed of various factors. For example, the age of a piece might make it worth more, but it can also be its weakness at the same time. The older the piece, the rarer it probably is, but that also means it is more susceptible to damage. Let’s go through issues that might arise and how to deal with them.
In case your painting collection is not being stored properly, it will most likely get damaged. Something like paint cracking, canvas tearing, or bleaching will greatly influence the painting’s value. For this reason, the most important rule of any great art collector is to take great care of their precious belongings. When collectors cannot accommodate all of their pieces, they often opt for professional art storage services.
If it is too late and the work of art is already damaged, there is still hope left in some cases. The first thing you must do in such a situation is take your painting to an expert art restorer. However, remember that if too much of the piece has to be restored, it is probably not going to regain its value. The more restoration works are done, the less there is left of the original work — the thing that makes the painting significant. It is a good idea to consult an art appraiser on whether restorations are worth it.
Another problem that is a little less predictable is possible damage to the artist’s reputation. This is more likely to happen to contemporary artists who are still alive. As a consequence, their works might not be considered valuable anymore. Investing in emerging artists is always risky, but if you work with a professional art adviser, the chances are high that you will make the right investment decision.