Buying your first artwork? Don’t skip the hidden costs and risks

In India the art-market still has weak regulation and gaps in documentation. That means verifying who made a work, whether it’s genuine, what its ownership history is — all those can be difficult. If you later discover a piece is mis-attributed or forged, its value can collapse or you might struggle legally to recover your money.

Liquidity is limited — you may not be able to sell easily

Unlike stocks, art doesn’t have a ready market of buyers. In India the art market is growing, but still niche. If you want to sell quickly, you may have to accept a discount. That means if you were banking on a fast flip or a price jump, you could be disappointed.

How to move ahead smartly

· Buy from a trusted gallery, auction house or through an advisor. Avoid deals that seem too good.

· Check the artist’s track record: how have similar works sold, what is demand like.

· Verify authenticity: get provenance documents, condition reports, certificates.

· Include the extra costs in your calculation: insurance, storage, tax.

· Treat it as a long-term hold rather than a quick profit.

· Only invest money you’re comfortable keeping locked in for years, because you may not be able to sell when you want.

Bottom line

Art can be a wonderful addition to your lifestyle and maybe to your investments too. But it’s not simple. In India the biggest risks lie in hidden costs, authenticity questions and resale issues. If you love the piece and are comfortable with holding it for the long term — go ahead. But if you’re only buying for quick profit, it’s wise to pause, research deeply and be ready.