Beyond Instagram ‘likes’ – tips on how to collect photographs as a serious arts investment
- With a strong market for top artists like Henri Cartier-Bresson and Ansel Adams, the demand for photographs in Asia is rising, so have a strategy in place for first-time purchases that are meant to boost your investment portfolio
“In today’s world, everyone is a photographer. We all carry cameras in the form of our phones and post their imagery incessantly on social media,” says Emily Bierman, vice-president and head of department at Sotheby’s Photographs. “There is, however, a more limited universe of artists you might wish to collect and invest in.”
In today’s world, everyone is a photographer. We all carry cameras in the form of our phones and post their imagery incessantly on social media
Markets for established artists such as Henri Cartier-Bresson and Ansel Adams are pretty stable and have proved themselves season after season. Both artists feature prominently in Sotheby’s upcoming “Photographs” auction in New York on October 3. The house’s most recent New York auction fetched a sales total of over US$4.03 million, with El Lissitzky’s Pelikan Tinte as top lot selling for US$462,500.
In Asia, it was not until about five years ago that photographs were considered a serious arts investment among local buyers, says Leo Xu, gallery director at David Zwirner, which is based in Hong Kong.
“Collecting, in general, is a new idea to Asian buyers, especially for Chinese [people]. For those with a Western upbringing, whether print, water colours or paintings, they love to have a piece of art or some pictures in their environment – while this is not necessary for people in Asia.”
Bringing prominent photographers to Hong Kong, the gallery is due to exhibit the works of celebrated American photographer Philip-Lorca diCorcia – who is best known for his meticulously executed photographs over the past three decades – from September 10 to October 12. This is the artist’s first solo show in Hong Kong.
Sotheby’s Bierman concurs that the modern photographs market in Asia is still developing.
“But we continue to see new interest in our photographs auctions season after season,” she says. Whereas the market in New York has long been dominated by Western artists, “blue chip, proven artists have thus far been of great interest”.
