7 Reasons Why People Buy Art

To conclude, I think the following seven reasons apply:

1. Simply because they like the artwork.

2. Because they like the artist.

3. As an interior decoration.

4. As an asset.

5. As a business expense.

6. As a window into a different world.

7. Other added value.

I will explain each of these in detail.

Why Do People Buy Art?

1. Simply because they like the artwork.

This often happens when someone feels a sense of fate or falls in love at first sight.

What is art? Who is the artist?

None of that matters at all.

"I just love this piece."

No other reason is necessary.

It is simple and yet the strongest motivation.

For the artwork, they are probably the most passionate,

approaching it with pure sincerity.

You could say it's no longer just love; it’s devotion.

As an artist myself,

when I hear this reason for why a piece was bought,

I am truly happy.

Because,

whether it’s my background, achievements as an artist,

or the history, techniques, and story behind the artwork,

all of that becomes irrelevant.

Simply put, they just love the piece.

That’s the only reason.

It felt like unconditional love for the artwork.

Why Do People Buy Art?

2. They like the artist (fan)

The reason being, "I like that artist."

This is also a very strong motivation.

There is a special connection to the person who creates the artwork.

They likely feel some kind of sympathy towards the artist who creates the work.

In other words,

they are a "fan" of the artist, and the artist is their "favorite."

Even if the artist's main profession isn't art,

and the work isn't necessarily technically great,

buying a piece created by a favorite celebrity would be the same phenomenon.

A slightly off-topic example would be

the act of cherishing and owning a drawing made by one's child,

which could be considered under the same umbrella, in a sense.

Why Do People Buy Art?

3. As Interior Decoration.

One of the elements in creating the ideal room

is decorating with art.

A plain white room feels lifeless, so

you might add a colorful painting, or

perhaps a chic black-and-white piece to create a cool vibe.

Just having a single artwork on the wall can greatly influence

the overall impression of the room.

Being in a room with a positive atmosphere can make

your mood feel uplifted or calm and peaceful.

It has an impact on how you feel.

Additionally, this influence can extend to the family members

or guests who are in that room as well.

By the way,

in Western countries, displaying art is

considered as essential as arranging furniture.

Refrigerators, washing machines, dressers, bookshelves,

sofas, beds, and so on,

are all part of the same experience.

You decide which artwork goes on which wall,

and which paintings suit each room.

This process is enjoyable.

Art is a part of everyday life.

Why Do People Buy Art?

4. As an Asset.

Art (works of art) can become an asset.

A painting bought a few years ago may now be worth several times its original price.

In the world of contemporary art, stories of artworks increasing in value by tens of thousands of times are not uncommon.

Of course, it depends on the piece,

but there's a certain dream involved.

While owning the artwork,

the artist may become famous, or through some other twist of fate, the value of the work may rise naturally.

And, like stocks,

if the value increases, one can sell it in the market and make a profit.

Alternatively, the artwork can be kept as an asset long-term.

These kinds of stories are common in Western countries,

and this cultural trend is starting to spread in Asia as well.

Currently, art markets based in Asia, starting with China and Hong Kong,

are expanding on a global scale.

Additionally, in neighboring South Korea, the art market has been booming due to major improvements in the tax system for art transactions.

Although it's still in its early stages,

I can feel that this cultural wave is steadily reaching Japan.

Why Do People Buy Art?

5. As a Business Expense.

Art can be a business expense.

That's right.

The act of purchasing artwork can actually serve as a tax strategy.

This involves a bit of detailed financial talk, but...

Paintings priced under ¥300,000 (or under ¥200,000 for companies with capital over ¥1 billion) can be expensed up to ¥300,000 as depreciation assets for the year.

Additionally, since 2015, artworks priced under ¥1,000,000 can be depreciated as a fixed asset over their legal useful life, provided certain conditions are met.

(As of January 2024)

So,

many business owners choose to buy art instead of paying the tax money,

because they can enjoy artwork they love while saving on taxes.

Moreover, as mentioned in point 4,

there's also the potential that the artwork could increase in value over time,

becoming a more valuable asset.

Thus, for art-loving business owners,

purchasing art is not only a way to enjoy beauty but also a logical financial decision.

Why Do People Buy Art?

6. As a Window.

Art functions like a window.

In the past, in Europe, there was a "window tax."

Simply put,

taxes were levied on the number of "windows" in a house,

with the tax rate increasing based on the number of windows.

So, in order to save on taxes, people started to reduce the number of windows.

At the same time, they began to decorate the spaces left by the missing windows

with landscape paintings.

Windows not only allow air to circulate,

but they also offer a view of the "outside world" that isn’t available in the room itself.

Looking out into the world outside the room makes people feel better,

and it enriches their hearts.

This effect still holds true today.

Having a painting as a "window" allows us to imagine stepping into a different world.

It’s not just about entering the world of the artwork itself,

but also about accessing the emotions, stories,

the artist's background, and the circumstances surrounding the creation of the work.

Owning a piece of art becomes a key to accessing many different worlds.

Such moments allow us to elevate our mood or gently calm us.

In modern times, technology has developed to the point where we can watch high-quality videos on our smartphones and computers.

But the presence of art—something truly special—within our own space

has a profound ability to enrich our hearts and lives.

Why Do People Buy Art?

7. Other Added Values.

Owning art brings with it some added value beyond just financial gain.

There are as many types of added value as there are people.

1. Qi-based Value

For example, some people feel "energy" from a particular artwork.

Owning such a piece can help them feel more energized.

It can become like the fuel they need to energetically move toward their goals and ambitions.

On the other hand, some artworks may have a calming effect, making the viewer feel relaxed or even sleepy,

which can be helpful for those suffering from insomnia.

These mysterious effects may relate to concepts in Qi Gong.

People who believe in such effects might experience benefits not only in terms of energy but also in work, relationships, and various aspects of life.

2. Creates Special Feelings of Happiness

Another example is buying art that contributes to solving global issues.

For instance, some artists create art from the enormous waste dumped by developed countries into Ghana,

and with each piece sold, they contribute to reducing this waste problem.

The feeling of being able to contribute to the world is a special kind of happiness that arises every time you look at the artwork.

3. Useful for Work

Some people believe that art can inspire new ideas for their work.

Art can provide fresh, innovative ideas that can be applied in their professional lives.

In fact, companies like Google and Meta send employees to museums for training.

There, employees are encouraged to observe a piece of art and share their thoughts with one another.

By exchanging ideas—each person bringing their own unique perspective—they not only train themselves to come up with ideas but also learn how to accept differing opinions.

Considering this, it’s no surprise that many business leaders are passionate about art.