The growing value of art
Adding art to a space doesn’t just make your space beautiful but is also an asset that gains financial value over time.
We asked a couple of our artists how their prices have changed so far in their careers and it’s pretty amazing! They all have said their work has at least doubled in value since they started selling their work professionally.
Logan Ledford
said in 2014
her 48 x 48" pieces were going for around $600
and now, in 2020
, they are being sold for about $5,700
! Crazy to think how much her value has gone up in such a short amount of time. If we break that down, she started out at a little over a quarter per square inch, and now it’s a two-and-a-half dollar price point per square inch. Which means her work has just under ten times more value today than it did when she first started.
Our artist Kristi Kohuttold us that her pieces have a 25% increase in value each year since opening her studio in 2014. A piece that she made in 2010 (before her studio was even open—what a go getter!) that was 30 x 30" was $750 and now, in 2020 , she sells the same size at $3,750 .
We asked Leigh Suggswhat her prices were like in 2010 and she said her pieces that were 30 x 30" were selling for $2,000 and now, in 2020 , they are being sold at $4,500 a piece. She also mentioned how that is intentional not just for her sake, but also for those who have supported her and bought her work.
"One of my goals was, and always has been, that if anyone purchased work of mine, that it would be worth more money one day. If someone believed enough in what I was doing to purchase it, I wanted it to mean something to them personally and financially. I've worked hard to make moves in my career that I thought would not only benefit myself, but also the people who have helped me, supported me, or bought my work." - Leigh Suggs
Art does not go down in value like a car, but goes up in value as it is enjoyed. It can add value to the space and be accumulating value at the same time. In addition to this it can also become something that you pass down in your family throughout generations. A financial asset, an heirloom, and an eye catcher in your home. Sounds like a great idea to me, but I might be a little biased.
