Art buyers enable artists to make a living from their art. There are currently several intermediaries that facilitate sales, such as physical and virtual art galleries, auctions, etc. But who are the main art buyers? What are their objectives?
Art collectors are the majority of buyers
The majority of art buyers are art collectors; they are the privileged clients of the artists. They are capable of purchasing a work of art at an inordinate price. The passionate collector is a follower of one or more artists and selects works on the basis of emotion. The philanthropic collector, on the other hand, wants to show the artist to his best advantage. He likes to have contact with his interlocutor and rarely sells his collections. They focus mainly on contemporary art and do not hesitate to visit physical and virtual galleries to find new talent. In any case, these collectors are capable of paying the price if a work fascinates them!
Investors, wishing to realise capital gains
These are businessmen with a good knowledge of the art world. They are looking for the right ways to make money. Investing in art is indeed an opportunity, because the capital gains can be as high as several million euros. In order to find a good deal, these art buyers look at the real value of each work of art and project their vision over the long term to assess whether the work is profitable or not. To do this, they will have to monitor the value of each artist as well as their evolution over several years and take a look at the opinions of experts in this sector. Of course, the risk is high, but in order to put all the chances on their side, they keep a constant watch to find the best opportunities.
Businesses and individuals, buying on a whim
Many individuals and professionals also buy works of art. For art buyers who are subject to the solidarity tax on wealth or ISF, this solution allows them to reduce their taxable income or even benefit from a total exemption. At the same time, works of art add charm and authenticity to homes.
For a company, the tax relief will be assessed according to the work purchased and calculated directly on the result of the year of acquisition during the following four years. If the work is kept for 5 years, the tax reduction can be up to 20%, without exceeding 5% of turnover.
In any case, for those who have no knowledge in this field, it is wiser to call on a professional. The latter will be able to give good advice on choosing the most suitable work for your project and your budget.