"Snow Thaw" Lawren Harris, 1919

To give an idea of the size of this market, approximately $350- 400,000,000 is spent on Canadian art annually, and prices have now reached international levels. Works by many prominent Canadian artists of the last century, such as J.W. Morrice, other Canadian impressionists, the Group of Seven, and Canadian abstract expressionists, to name a few, have risen by 2000% in value over the past 30 years. For example, an A.Y. Jackson in a 2004 exhibition at Mayberry Fine Art, recently sold to a U.S. buyer for $420,000, up $400,000 in 30 years. Another painting at the same exhibition, by well-known Manitoba artist, William Kurelek, priced at $98,000 could have been purchased in 1974 (three years before the artist's death) for $1,000.

As for the "penny stock" investor, I advise buying smaller works by big names. Some Walter J. Phillips (1884-1963) colour woodcuts can still be purchased for under $2,000. If buying work by a living contemporary artist, consider career artists with national recognition who will leave a mark on the Canadian art identity. Artists who have achieved national acceptance, through commercial galleries, museums, universities and other public institutions make a good combination with the market place.

On the other hand, it is wise to avoid highly promoted manufactured art – flashy reproductions have no artistic originality or value. Such articles are often numbered and signed to make them more appealing to the market, this does not, generally, stand the test of time. These are the .com investments of the art world. When purchasing such items, consider it decoration not investment.

Tips for the Investor

• Be prepared to invest some of your time to become an informed buyer.
   
• Seek the advice of an art professional who is involved in the investment market.
   
• Stay focused on the art. The quality and value of an artwork must go beyond decorative appeal.
   
• Buy with your head as well as your eyes.
   
• Talk to your accountant: Did you know that original Canadian art can be purchased or leased and depreciated through your company as furnishings and fittings?
   
• Buy wisely with your children and grandchildren in mind. Most investment art being sold today comes from people who have inherited it.
   

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