Art plays a significant role in shaping culture and connecting generations. Despite its cultural importance, art is not commonly viewed as the primary investment choice. A recent study commissioned by VeloBank highlights that while paintings, sculptures, and photographs adorn homes and offices, they can appreciate in value more rapidly than traditional assets.
Art as a Long-Term Investment Strategy
Many collectors are beginning to see art acquisition as a long-term investment strategy rather than merely an expression of aesthetic preference. However, art investments currently make up a relatively small portion of investment portfolios. Grzegorz Zawada, director at VeloBank Brokerage Office, noted that one of the main barriers to art investments is the high price tag associated with individual pieces.
- The survey revealed that 61% would invest in gold or other precious metals.
- 27% would choose securities as their investment vehicle.
- 16% identified art as a potential investment.
- 9% considered vintage vehicles as an investment option.
Young individuals aged 25 to 34 were most interested in investing in art. Regarding education, the interest was consistent across various educational backgrounds: 15% of those with basic education and 16% from both secondary and higher educational levels indicated potential interest in art investments.
Challenges in Art Investment
Despite the growing interest, traditional investment cultures still dominate in Poland. Common investment forms include real estate, deposits, bonds, and stocks. Yet, there is an increasing curiosity about new asset classes like art. Zawada suggests that tokenization through non-fungible tokens (NFTs) could help overcome some barriers associated with art investment.
Art as a Cultural and Symbolic Asset
The survey also explored the cultural significance of art in Polish households. Over half of adults (60%) own a painting or sculpture. Typically, art owners are individuals aged 55 and older with higher education. Approximately 41% of respondents reported having received a piece of art as a gift, with the likelihood higher among older age groups.
- 50% of those aged 55 and above received art as a gift.
- For the 18 to 24 age group, this is only 27%.
- 45% of respondents with higher education received art, while 25% of those with basic education did.
- 42% indicated they purchased art themselves.
Art purchases were notably more frequent among individuals with higher education (47%). However, the interest in investing in works by artists is on the rise, albeit with a modest number of investments currently taking place.
Support Initiatives for Art and Culture
According to Agnieszka Rzepkowska, marketing director at VeloBank, the institution actively supports art in various dimensions. Recent campaigns, including one featuring brand ambassador Magdalena Różczka, invite audiences to an innovative gallery where art intersects with modern banking. Additionally, the VeloTalent program fosters young artists, contributing positively to cultural development in Poland.
In conclusion, while the current engagement in art investments remains limited, the tide appears to be turning with rising awareness and initiatives. The landscape of art as a form of capital allocation is gradually expanding in Poland.
