The short answer

Art can be both a pleasure and a long-term store of value. The global market grew 4% to US$59.6 billion in 2025, led by galleries and dealers (US$34.8bn) and public auctions (US$20.7bn, up 9%). You can buy at galleries, art fairs, auctions and through private sales, and newer platforms offer fractional ownership. Plan for the full cost of owning art — the buyer's premium at auction (up to 27–28% on lots below a few million dollars at the major houses), insurance, storage, framing and conservation. Check provenance, authenticity and condition carefully. Buy what you love, from reputable sources, and treat art as a long-term part of a well-built portfolio. Lawrence will talk it through with you.

Why people invest in art

• Daily enjoyment — the only investment you can live with and look at every day.
• A real, unique asset — every original work is one of a kind.
• Long-term value — great works by established artists have historically held and grown their value over long periods.
• Diversification — art follows its own market, separate from stocks and bonds.
• A global market — with buyers in the US, UK, China, France and beyond.
• A legacy — art is often passed down through families for generations.

The art market today

The Art Basel and UBS Global Art Market Report 2026 paints a picture of a market back on a growth path:

• US$59.6 billion of sales in 2025, up 4% after two years of contraction.
• Around 41.5 million transactions, up 2%.
• Galleries and dealers sold US$34.8 billion, up 2%, with art fairs accounting for 35% of their sales — the highest share since 2022.
• Public auctions grew 9% to US$20.7 billion.
• The United States remained the largest market at US$26 billion, followed by the UK at US$10.5 billion and China at US$8.5 billion. France grew 9% to US$4.5 billion.

Knight Frank's 2026 Luxury Investment Index adds detail by category: Impressionist art rose 13.6% over the year — the best performance of any collectible — and modern art also gained, while contemporary art and prints declined. The report notes the index as a whole rose 38.6% over ten years.

Looking ahead, the report highlights the "Great Wealth Transfer" — more than US$83 trillion passing between generations — bringing more women and younger collectors into the market.

Where to buy art

The main routes to buying art, side by side.

A general guide. Market data from the Art Basel and UBS Global Art Market Report 2026.

What art costs to buy and own

Buying at auction

Auction houses add a buyer's premium to the hammer price. At the major houses, it's tiered: Sotheby's charges 28% on the first US$2 million, 22% up to US$8 million and 15% above that (from February 2026), while Christie's charges 27% up to US$1.5 million, 22% to US$8 million and 15% above (from September 2025). So a work hammered at US$100,000 at Sotheby's would cost around US$128,000 before any taxes. Sellers usually pay a commission too.

Buying from galleries

Gallery prices are usually agreed directly, with no separate premium — and established galleries offer expert guidance, relationships with artists and help with provenance and paperwork.

Owning art

• Insurance — fine art cover for damage, theft and transit.
• Storage and display — climate, light and security matter, especially in Thailand's heat and humidity.
• Framing and conservation — protecting the work over time.
• Shipping — specialist art shippers for moving works internationally.
• Valuation — periodic appraisals for insurance and planning.

Our guide to storage, insurance and valuation of collectibles covers looking after art in detail.

Where to start

Guidance on how art fits your plan — and better rates when you pay in other currencies.

Provenance, authenticity and condition

Three things underpin the value of any work of art — and checking them is the heart of buying well.

Provenance

The history of who has owned a work, ideally unbroken from the artist to today. Good provenance supports authenticity, confirms the work can be sold freely and adds to its appeal for future buyers.

Authenticity

Confirmation that the work is by the artist it's attributed to — through the artist's catalogue raisonné, a certificate from a recognised authority or foundation, or expert opinion. Reputable galleries and auction houses stand behind their attributions.

Condition

A condition report describes the state of the work, including any restoration. Condition has a big effect on value, so ask for a report before you buy — especially at auction.

Buying from established galleries and auction houses makes all three much easier, because they carry out this research and provide the documents.

What to buy

• Buy what you love — you'll live with it, and enjoyment is part of the return.
• Established artists — with exhibition histories, auction records and gallery representation — tend to have the deepest markets.
• Quality within an artist's work — the best examples of a period usually hold value best.
• Different segments move differently — in 2025, Impressionist and modern art gained while contemporary art and prints eased, according to Knight Frank.
• Prints and editions can be an accessible way to own work by well-known artists.
• Emerging artists can be exciting and affordable, with more variation in how prices develop.

What makes a work of art valuable

Two works by the same artist, painted in the same year, can sell for very different sums. Understanding why is what separates a confident collector from a hopeful one. The factors below are the ones specialists at galleries and auction houses look at first, and they are worth learning before you buy.

The artist's standing

An artist's reputation is built over time through exhibitions at respected galleries and museums, inclusion in public and private collections, critical writing and a record of sales. Artists with long, well-documented careers tend to have the deepest markets, with many buyers and plenty of comparable sales to guide prices. That depth is what gives a collector confidence that a work can be sold well in future.

Period and quality

Most artists have periods that collectors prize above others — the years when their style was at its most distinctive or their most celebrated works were made. Within those periods, the strongest examples command a premium. Specialists often say it is better to own a first-rate work by a respected artist than a minor work by a famous one.

Size, medium and subject

Oil paintings on canvas usually sell for more than works on paper by the same artist, and larger, more ambitious works for more than small studies. Subject matters too: certain themes are closely associated with an artist and are especially sought after.

Rarity and freshness

Works that have not been on the market for many years — often described as "fresh to market" — attract particular interest at auction. Unique works generally hold value better than editions, although prints and editions by major artists have their own active market.

Exhibition and publication history

A work that has been shown in important exhibitions or reproduced in books and catalogues carries a recognised place in the artist's story, which supports both its authenticity and its appeal.

Put together with provenance, authenticity and condition, these factors explain most of the price differences you will see — and they give you the right questions to ask about any work you are considering.

Fractional art and art funds

For investors who want exposure to blue-chip art without buying a whole work, newer options have appeared. Fractional platforms let you buy shares in a single artwork, which the platform stores, insures and eventually sells. Art funds pool investors' money to buy a portfolio of works, managed by specialists. These routes offer smaller minimums and professional management, though you won't hang the work on your own wall, and fees and exit terms vary. As with any platform, check who owns and stores the art, the fees and how and when you can sell.

Which route suits you?

Owning a work outright gives you the full pleasure of living with it, complete control over when and how you sell, and a direct relationship with galleries and auction houses. It suits collectors who want art in their home and are happy to take care of insurance, storage and records themselves.

Fractional ownership and art funds suit investors who are interested in the asset class rather than a particular work, or who want exposure to price levels that would otherwise be out of reach. The platform or manager handles the practical side, which is a real convenience for expats who move between countries. In exchange, you share the decision on when to sell and pay ongoing fees for that service.

Many collectors combine the two: a few works they love at home, and a smaller allocation through a fund or platform for broader exposure. Before committing to any platform or fund, read how the art is held — ideally in a separate legal structure so it is protected if the platform itself has difficulties — how often valuations are published, and what happens at the end of the holding period.

Owning art in Thailand

Living with art in Thailand brings a few special considerations:

• Climate — heat, humidity and strong light can affect paintings and works on paper. Air-conditioning, humidity control and UV-filtering glass help.
• Shipping and import — use specialist fine art shippers, and check import requirements before bringing work into the country.
• Insurance — make sure your policy covers works in your Thai home, in transit and on loan.
• Where to keep it — some collectors keep valuable works in specialist storage abroad and enjoy others at home.
• Local art — Thailand and Southeast Asia have vibrant art scenes worth exploring.

Building a collection over time

The most rewarding collections are rarely bought all at once. They grow over years, shaped by what the collector learns, sees and enjoys. A little structure from the start makes that journey more enjoyable and the collection more valuable.

Start by looking

Visit galleries, museums and art fairs, and follow auction results for the artists that catch your eye. Art fairs are particularly useful: the Art Basel and UBS report found they accounted for 35% of dealer sales in 2025, and they let you see work from many galleries in a single visit and compare prices side by side. Talking to gallerists is free, and most are happy to share their knowledge with an interested buyer.

Set a budget and a focus

Decide how much you are comfortable putting into art each year, including the costs of buying and owning it. Many collectors also choose a theme — a movement, a region, a medium or a group of artists — which gives the collection coherence and helps them build real expertise. Southeast Asian art is a natural focus for many expats in Thailand.

Build relationships

Galleries often offer their most sought-after works to collectors they know. A good relationship with one or two galleries, and with specialists at an auction house, can open doors that are closed to occasional buyers.

Keep records from day one

For every work, keep the invoice, certificate of authenticity, provenance documents, condition reports, photographs, valuations and shipping records, along with where the work is kept. A simple spreadsheet or a dedicated collection-management app works well. These records support insurance claims, make selling easier and help your family if they inherit the collection.

Review it regularly

Every few years, have the collection revalued, check your insurance matches current values and think about whether its shape still reflects your interests. Some collectors sell weaker works over time to fund stronger ones — a process known as refining a collection.

Selling art

When the time comes to sell, the main routes are:

• Auction — public, competitive bidding; you'll pay a seller's commission.
• Private sale — arranged by an auction house or dealer, often discreetly.
• Back to a gallery — some galleries help resell work by artists they represent.
• Online — for more affordable works.

Art usually takes time to sell well, so it suits collectors who can choose their moment. Good provenance, condition and paperwork make a sale much smoother.

Before selling, ask two or three auction houses or dealers for an estimate and their proposed terms. Seller's commissions, marketing costs and insurance while the work is consigned can often be negotiated, particularly for valuable works. Major auction houses hold their most important sales for each category at set points in the year, so timing a consignment to the right sale can make a real difference to the result. If the proceeds are coming back to Thailand, plan the currency conversion in advance so a good sale isn't eroded by a poor exchange rate.

How art fits your portfolio

Most wealth managers see art as a passion asset — a smaller part of a well-built portfolio that brings enjoyment as well as long-term value. It sits well alongside:

• Structured notes for defined returns and income — today paying up to 13.56% a year on US dollar autocalls and 9.72–9.85% a year on Phoenix notes.
• Private equity for long-term growth.
• Listed investments for liquidity.
• A cash reserve for everyday needs.

Our guides to structured notes, private equity and whisky casks cover the other building blocks.

Art and your family

Art is often a family's most personal asset — and passing it on well takes planning. Keep a record of each work, its provenance, valuation and location; make sure your wills cover your collection in every country where it's kept; and talk to your family about which works matter most. Our guide to beneficiaries and cross-border policies explains how to keep assets in different countries passing smoothly to your family.

Questions to ask before you buy

1. What is the work's provenance, and is it documented?
2. How is authenticity confirmed — catalogue raisonné, certificate or expert?
3. What is its condition, and has it been restored?
4. How does the price compare with recent sales of similar works?
5. What will it cost in total — premium, taxes, shipping, insurance?
6. How will I store and insure it, here in Thailand or elsewhere?
7. How could I sell it in future?
8. Do I love it?

Our guide to avoiding misleading alternative investment claims explains how to choose reputable sellers.

Top tips for art collectors

• Buy what you love.
• Buy from established galleries and auction houses.
• Check provenance, authenticity and condition.
• Know the full cost, including buyer's premiums.
• Insure and store works properly for Thailand's climate.
• Keep good records of every work.
• Think long term.
• Keep art to a sensible share of your wealth.

Three real-world examples

These are illustrations, not real clients.

Charlotte, 56 — a first serious purchase

Charlotte bought a work by an established artist from a respected gallery, which provided full provenance and a condition report. She had it shipped by a fine art specialist and insured for her Bangkok home.

Robert, 61 — auction buying

Robert bid on a modern print at a major auction house, budgeting for the buyer's premium on top of his maximum bid. Because he wanted to spend no more than US$25,000 in total, he set his maximum bid at around US$19,000, leaving room for the premium, shipping and insurance. He keeps a file with every invoice, certificate and valuation.

Paul and Sue — art and a balanced plan

Paul and Sue enjoy a small collection of Thai and Southeast Asian art at home, alongside structured notes for income and an evergreen private equity fund for growth. They keep art to a modest share of their wealth, update their valuations every few years and have made sure their wills in both countries cover the collection, so their children know exactly what they own and where.

Your art buying checklist

1. Decide your budget and how art fits your wealth.
2. Choose reputable sellers.
3. Check provenance and authenticity.
4. Get a condition report.
5. Know the full cost of buying and owning.
6. Arrange insurance, shipping and storage.
7. Keep records and plan for your family.
8. Talk to Lawrence about the bigger picture.

Buying safely online

Buy from established galleries, auction houses and platforms, confirm bank details directly before paying, and use a private, protected connection when you bid or pay online on hotel, café or condo Wi-Fi.

How we researched this guide

This guide draws on the Art Basel and UBS Global Art Market Report 2026 (as reported by Finestre sull'Arte); Grossman LLP's review of 2026 buyer's premiums at Sotheby's and Christie's; and Knight Frank's Wealth Report 2026 Luxury Investment Index (as reported in April 2026). Checked 14 October 2026. Art is a long-term holding; prices can rise and fall and selling can take time. This guide is general information, not personal financial advice.