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. Last Updated: 07/27/2016

Art-Buying Basics

Choose something you like: "If you don't like the work, you might as well invest it in shares," collector Georgy Putnikov said. "You have to look after art, and if you don't like it, it'll be more hassle than it's worth."

Choose something good: "All artists have their bad periods," Putnikov said. "You have to buy work of theirs that represents them at their prime. That's the reason why Gustav Klimt's 'Adele' sold for a record price."

Do the research: "You have to look at previous sales figures: If a Renoir painting is only growing in value by 5 to 10 percent each decade, then that's the rate of inflation," Putnikov said. He also recommends looking into recent sales figures of other works by the artist you intend to buy.

Size matters: Although this is not a rule, most people buy art for their homes. If you plan on reselling the artwork, you have to consider whether it will fit into someone else's interior.

Choose your gallery: Make sure the gallery you buy from has a good reputation. For contemporary art, Putnikov suggests looking at the galleries that promote themselves at such international art fairs as Frieze Art Fair in London or Art Basel in Switzerland. "If you buy artworks from those galleries, you know that the artist you buy is getting promoted internationally," he said. "Never ever buy art in flea markets -- the artists there aren't famous, and more importantly they will never be famous."