In a world that is progressing quicker than we can say non fungible token, it is important that both collectors and artists understand the difference between all of the art products that are available on the market and what their value is.
So in this blog, I have broken down for you the difference between the some of the different types of art products that are available, how they are made, what their purchase value is and what their potential future value could be.
YOU ARE WELCOME
Ok so let’s dive right in with the new kids on the block
NFTS – Non fungible tokens.
Basically the “original” equivalent of digital art. A “signed” piece of art – only it’s stored in the magical world of the internet as opposed to on your wall at home. The market for NFTs has been BOOMING since they started. They are a great way for artists to make continuous money from their work. Check out my blog on NFTs for more info.
As these are “digital works” they are created by digital means. So for example on pro-create, 3D rendering software, and animation software. They are uploaded by the artist to an NFT platform such as Open Sea, where collectors may bid for their products.
Purchase value: You can class this up there with the same sort of purchase value as an original piece of art. It IS obviously linked to the crypto market which is currently quite volatile but these babies are one of a kind and therefore cost the big bucks.
Potential value: The NFT market is incredibly volatile, so as with any investment only put in what you are willing to lose. However with the advances in crypto, and the improvements to their environmental impact, this baby has the unlimited potential to blow up!
Original art can come in many forms, canvas, paper, painting, drawing – you name it it can be art! But the point of it is – like an NFT – it is one of a kind! The artist may choose to sell their work via an art dealer, a gallery or online. Original art holds its value the best out of the different products we are discussing today, and often increases. It is usually the most expensive product so you will need a big budget to start your collection with originals. Check out my blog on how to spot a great work.
Purchase value: Like an NFT this is a one of a kind, and therefore has the price tag to match it. This will usually be the most expensive of the artist’s products as it is the most expensive to create.
Potential value: This depends on many factors, mostly original art will hold and usually increase it’s value. Depending on how popular the artist becomes, will dictate how much in value it will increase. Other factors to think about are things like colour, subject and medium. Check out my blog for more info on this.
Limited Edition Or Special Edition Prints
Want value in your art but haven’t got the budget for an original? A limited edition print is the way to go. Limited edition prints should be numbered and signed, and this makes them more valuable. They are usually identical in size and reproduction technique. The less of them there are – the more valuable they become.
Prints can be created in different ways, but it is usually done using high quality inks and paper. Keep your eyes peeled for the words “giclee” and “archival” when shopping for a print.
Sometimes an artist may choose to extend a set of prints, in which case you may notice words like “first edition” or “second edition”. This is super important to note as the first edition will always be more valuable. Even more so a “special edition” which may be hand embellished by the artist and therefore become one of a kind. Other terms to look out for is “artist proofs”, which are initial attempts at creating prints and will be incredibly rare.
Purchase value: Prices can range with these babies. Factors include, edition number, if they are signed and dated, and any embellishments. These babies are cheaper than an original work, but are on the higher price end of art products.
Potential value: As with an original work, a limited or special edition print will usually hold, or increase in value.
Open edition prints:
These are great if you want to support your fave artist and decorate your home at a reasonable price. They will not be signed or dated and may be printed by a third party. There will be multiple versions of these created. They will be usually a lesser quality than a limited edition print. However they are fab for keeping on trend with the latest decor and showing your love for the artist’s work.
Purchase value: Usually low cost. However, they can run from anything from USD10 to USD 200 depending on size and materials.
Potential value: Unfortunately, as these one of the kind, it is unlikely that they will increase in value in the future.
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