On Wednesday night, the Conversations series continued at the 2 Danks Street complex with around one hundred attendees. The topic of the evening was ‘Collecting in an Age of Investment’ and the panel featured Katrinia Strickland, Arts Editor, The Australian Financial Review; Ralph Hobbs, Director, Art Equity; Geoffrey Cassidy, Director, Artbank; Glenn Barkley, Curator, Museum of Contemporary Art sitting next to Christopher Hodges, Director, Utopia Art Sydney, who once again acting as the chair for the night.
There was general agreement that collectors usually purchased from the primary market, which had the added bonus of directly supporting the artist, and that investors bought from the secondary market, in particular through the Auction Houses. It was strongly suggested however, that in a similar way to being successful on the Stockmarket, a thorough understanding of the art market, artist and artwork history is crucial to make an informed purchase with the sole idea of investment. One point of advice given to individuals intending to begin a collection on a limited budget would be to purchase works on paper, artists books, prints or multiples as these artworks tend to offer an affordable entry point but still present the potential for an increase in value over time.
Many thanks to the panel members and the audience for their participation, making last nights event a success as well as to Dominick Mersch for hosting the event in his Gallery. The next evening of Conversations will be in three months time, check this space or 2danksstreet.com.au for further details.