Do you buy lottery tickets? That's the equivalent of expecting artwork to appreciate by factors of 10 or 100 in your lifetime. Does it happen? Yes, but with the frequency of the lottery winner. Will art appreciate? Most likely, if it is good art. In the same way that a fine piece of jewelry or a fine piece of hand-made furniture may appreciate. It is a hedge against inflation in the same way as any tangible asset, be it real estate or gold bullion or a Burmese ruby. It does not wear out. It gives pleasure. It proclaims your aesthetics and taste to those who visit you. It lives with you.
Buy art that speaks to you. That will be a friend in your home. That excites you. That brings you contentment. That will give you pleasure to share. Over time, you will be rewarded immensely! And you have something tangible and beautiful to leave to your heirs.
Generally art will appreciate with time, as will most tangible fine possessions. But if you are looking to "make a killing" in art - then buy "art" in the $100,000 (and way up) range, cross your fingers and hope, and know you are gambling! And read Don Thompson's "The $12 Million Stuffed Shark!!
Better, buy what you love. Art speaks to you. It is often said that the difference between a "painting" and "art" is that "art" triggers an emotional response - joy, sadness, elation, contentment, even distress or anger. A painting is just decor - it may match the walls or provide a focal point over the sofa, and that is a worthwhile function, but that does not make it art. Of course, what is art to one person is not to another, and vice versa - so you must find art that is "art" for you.
