Inuit art has a long history appealing to many First Nations art collectors. In the 1950s, many Inuit communities were suffering from impoverishment. The people could no longer practice their traditional way of life yet their remote locations left few alternatives for securing an income.
To mitigate the situation, the Canadian government instituted a program to teach the Inuit to create art. Carving and print-making were taught and, as a result, many talented artists emerged.
Since that time, Inuit carvings and prints have captured the hearts and imaginations of people around the world. Depicting a life unfamiliar to much of the population, Inuit art is treasured for its uniqueness as well as its beauty.
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Unfortunately, collecting Inuit art, particularly as an investment, isn’t a simple matter of buying pieces that appeal to you. Many people have paid significant sums for a piece, only to discover later that it is fake and essentially worthless.
Here’s what you must know before investing in Inuit art:
Protect your investment before you buy.
“The best advice I can offer in regards to investing in Inuit art would be to begin by educating yourself,” says Christa Ouimet, Inuit Art Specialist for Waddington’s Auctioneers & Appraisers. “Like any investor, one must research the product they are looking to invest in.”
Waddington’s has been auctioning Inuit art for 30 years. An auction in November received a great deal of international attention and 20 pieces sold for more than $10, 000. “The popularity of Inuit art has grown immensely over the last five years,” says Ouimet. “It’s internationally collected, unlike other aspects of Canadian art.”
There are a number of ways you can educate yourself, including:
- Reading books on Inuit art
- Visiting galleries and talking with gallery staff
- Researching Inuit artists
- Taking a course at a local art school or university
- Studying collections in public institutions
- Tracking auctions and studying the catalogues and price lists of auction houses like Waddington’s
Judge pieces correctly.
You may be attracted to the look of a piece of Inuit art, but if you’re collecting as an investment, you need to look further. Quality, says Ouimet, is number one.
To judge the quality of an Inuit carving, Ouimet recommends looking at the:
- Artist
- Region the artist hails from
- Subject of the piece
- Stone or other medium used
- Size of the piece
- General condition
- Age
- Detail and finish
“If you don’t know, ask an expert,” warns Ouilet.
Sniff out fakes.
“The only way to be sure about the authenticity of your artwork is by consulting an expert,” says Ouilet. But there are tricks. Fake carvings are made of composite materials that have the appearance of stone. Authenticity can be established by weighing the piece and even checking its temperature.
If you’re interested in Inuit prints, you’ll also want to ensure you’re buying the real thing. “Sometimes posters or machine reproductions can be mistaken for stonecut prints,” warn Ouilet. She uses size and the type paper to judge what’s real from what’s not.
Should you invest in Inuit art?
If you’d like to begin investing in Inuit art, now is the time. There have been claims that there are fewer Inuit artists today and the art forms are dying out, but Ouilet says there’s no truth to such rumours. “But it’s becoming more difficult to find the early works; people are paying top dollar for these pieces and they are staying in private collections longer,” she explains.
Her final recommendation? “It is an internationally collected art form and since there is a limited supply of this good early material and the demand is getting stronger, investment in these pieces is wise.”