An often overlooked area of business is the art scene.

Diverse in its offerings, Art is often seen as the realm of the rich (in mind and $$). And can offer the purchaser more than just a decorative device, it can also boost their stakes in the up and up of social climbing as well as their investment assets.

Although often seen as a lofty pursuit, the need for artists to communicate and the want for purchasers to invest in visual literacy and one up-manship is solid. However a challenge arises when people arrive on the scene with limited knowledge of art and how it fits in the scheme of things. So here is a quick guide. Note I am more specifically talking bout painting and drawing here, not the crafts so much.

1. Contemporary - Considered to be the cutting edge of what’s taking place in the art world… New players abound, your research for pieces to invest in should focus on longer term artists of repute who have earned the title of contemporary artist. However the new players can provide the art lover with fresh perspectives and emergent investment opportunities.

2. Mature contemporary - These artists have been selling for years, some have passed on, some are still with us, but the work has gone from owner to owner being auctioned off in the revered art auction houses. Usually a much lower risk than an emergent Contemporary artist and often no where near as expensive as a classic.

3. Classics - The bigger picture of art from the past, from high level well renown artists to others of little note. Again in the bigger auction houses and from antique dealers, usually these works are for the “bigger players” in the investment market.

4. Leisure - The art works of people who create for enjoyment, some of these works attain a level of notoriety (often localised) However their value is often in the technique and style rather than the ability of the works to communicate contemporary themes. Often these are hobbyists that sell to help supplement their income or pay for their materials. As an investment they offer little in the way of $$ return as the artists often have little recognition to the active investment art world, any value is often sentimental.

5. Decorative - Renovation and do it yourself shows on TV show how to ‘take a canvas and tun it into your own piece of art’ the aim is to decorate a wall or space. This is all about colour and design basics and not about art for art sake. The images are usually meaningless and serve only as decoration, therefore they are not expected to appreciate in value.

There are probably a whole host of categories in between that fill various gaps but for now the above list is a starting point.

When looking at works of art you now have a perspective from which to view and assess them. So when asked “What do you think of our latest acquisition” when Aunt Millie points to a new painting in the lounge… you can start out with a discussion using a few of the points above. “Oh Aunt Millie, its rather colourful and fits the space nicely, tell me all about it…” then listen to hear how it was purchased, for what purpose, decoration or for investment.

For the artist they can take the list a see where they are at and or where they might be aiming, for galleries they can clarify their position and see who or target market might go for.

From all sides the list gives a starting point to understanding so the business of visual arts might be more clearly defined for all parties.

Stumble it!