As much as I love to emphasize the importance of art for art’s sake, I also want to highlight the financial and investment value of photographic art. As a contemporary artist, I know that the art market is valued at more than $500B, as of 2023. My buyers should be aware that the annual return on art investments in contemporary works has averaged about 7.5% for the past 25 years. Overall, art investments have outperformed the returns on investment grade bonds, which is around 6.5%. In terms of photographic art, Artprice points to an increase in value by over 300% in the last 20 years.
All of that makes buying investment-grade art a potentially worthwhile pursuit. I have some thoughts on what you should consider when buying contemporary art and art photographs in particular.
The Art Photography Market
Over the last decade, the market for photographic art has seen significant growth. As Ansel Adams once said, “You don’t take a photograph, you make it.” The painstaking effort that goes into creating bold, narrative pieces characteristic of contemporary photography distinguishes it from the casual photos taking up space on our personal phones. Sales in the secondary market for works by iconic photographers such as Ansel Adams, Cindy Sherman, and Andreas Gursky have set new records, demonstrating the immense value that photographic pieces can hold. These artists have shown that photographs can appreciate in value similarly to paintings and sculptures. Without question, photography has cemented its place in fine art.
Photographs Offer Accessibility and Diversity
Getting started in buying investment-grade art offers a few methods of entry: from painting, to sculpture, to photographs. But unlike the million dollar price tag for a work by an unknown emerging painter, purchasing an art photograph provides a more accessible entry point for new investors. Photographs can range from the hundreds of dollars to several million, depending on the artist’s reputation, rarity, and the photograph's significance. This variety makes it easier for investors at any stage to start building a meaningful collection.
Buying photographic art should begin with making a purchase that resonates with you aesthetically and emotionally. Your connection with what the camera artist is expressing is the starting point for any collector’s relationship with an artist. Within the photography medium, you’ll find a wide variety of sub-genres, techniques, and styles—from abstract and conceptual to portrait and landscape—offering something for every taste and investment strategy.
After you’ve found that first special photographic piece, learn to explore and discover more about the artist, the style, and where they fall within the medium’s history and critical development. What the artist is trying to convey and why they chose a specific artistic approach to say matters to the art’s intrinsic and appraised value.
Limited Editions and Rarity Drive Value
Art sales, while often obscure on valuation, definitely are clear about one thing: rarity vs. ubiquity. One reason why some kinds of art continue to appreciate in value is its singularity. The law of scarcity applies here: when there’s only one, its value increases. The same holds true in art photography where single and limited editions weigh heavily in pricing the work. Once an edition is sold out, the value can increase significantly.
Where to Source Photographic Art
Art fairs, galleries, and direct sales with the artist continue to serve as gateways to buying, selling, and investing in photographic works from virtually anywhere in the world. This increased accessibility opens up international markets, giving investors more opportunities to discover emerging artists and resell their pieces in the future.
Whether you’ve been collecting art for years or are new to the scene, Stephan Twist’s photography is a seamless blend of technical expertise and creative expression. Start your collection today and enjoy the rewards of investing in fine art. Use the form below to set up a free consultation.