Investing in Quebec art
In the article ‘’L’art québécois vu de Toronto’’ from Le Devoir (in French), journalist Odile Tremblay mentions that private investment in art is less common among people from Quebec than among English-speaking Canadians. But habits tend to change: in fact, more and more Quebecers are buying pieces of art as financial investments. Buying a painting from such big names as Jean-Paul Lemieux or Marc-Aurèle Fortin to enhance its value is a practice that is gaining momentum in Quebec, as well as in the rest of the world.
A global trend
While there were 500,000 collectors around the world in the 1940s, we can estimate at more than 70 million art investors worldwide. According to The Economist magazine, the art market is generating even better returns than the stock market.
High-profile auctions often attract media attention, such as the Rockefeller Collection featuring works by Picasso, Monnet and Matisse, which sold for a total of US $ 650 million last spring. Or a Banksy painting recently sold for nearly $ 1.8 million CAN at Sotheby’s in London, before self-destructing.
But you do not need a huge financial capital to invest in art. For example, you can get a painting by Francoise Nielly, a world-renowned artist, for around $ 15,000, which will probably generate a very interesting return over the years. It is also possible to buy up-and-coming artists, such as Boudro and Bao in pop art, which will gain value over time.
Here in Quebec
You want to invest in Quebec art too? Expect an average annual return of 8% according to experts. However, having a good return on your investment will take time: you must keep the artwork for a minimum of 10 years! Keep in mind, however, that you cannot improvise yourself an investor in art. You have to “understand the market, study the history of art, read, visit galleries, museums and auctions, study the catalogs, the CV of an artist, the places where they exhibited, the collections where their works are found especially in museums, if they are a star, etc. (Journal de Montréal, 2018) It is therefore essential to speak with experts who will be able to advise you, such as our team at the Perreault Gallery. Come and see us so we can discuss your interests and above all, your tastes!
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