Art as an Investment Option: A Conversation with Ineta Done, Member of the Board at Signet Bank

As the art market evolves, it is increasingly regarded not only as a realm of cultural preservation but also as a promising investment avenue. Combining aesthetic appeal with financial potential, art offers a unique opportunity for collectors and investors alike. We spoke with Ineta Done, Member of the Board at Signet Bank—a banker with a Master’s degree in Art History and Theory from the Art Academy of Latvia, who also oversees Signet Bank’s corporate art collection. She shared her insights on the intricacies of art investment, the bank’s approach to curating its collection, and her advice for those looking to enter this fascinating market.

About Investing in Art

People collect many different things. Where does art investment stand among them?

I would say that in general, people have a bigger appreciation towards tangible collectibles like wine, watches, and classic cars. However, art holds a unique position, blending aesthetic appeal with the potential for financial growth. It also carries emotional value, making it a deeply personal investment. Art is not just about financial returns; it’s about cultural connection and personal expression.

Is there a single answer to the question of why people collect art?

Collecting is deeply ingrained in human nature—nearly everyone has some form of collection at home. Some people are drawn to art for its beauty and the way it transforms a personal space. Others seek a cultural connection or wish to support emerging and established artists. In recent years, art has gained recognition as a viable investment, with many collectors viewing it as a means of financial diversification. Whether the goal is financial independence, portfolio expansion, or supplemental income, early engagement in art investment tends to yield greater potential returns over time.

At Signet Bank, we view art as both a cultural asset and a means for achieving investment returns. Every acquisition is carefully curated to reflect cultural relevance and potential value appreciation?

KIWIE, Scary Pet Monster. 2020 Rebecca Horn, The Dream Garden.
 2015
signetbank.com signetbank.com

It’s time to understand what is meant by investment in art. Are works purchased at local art fairs and art markets, for example, considered art investments?

Investing in art means selecting pieces likely to retain or increase their value over time.

It’s important to carefully look at the changes happening in the art discourse—today’s art investment landscape goes beyond traditional fine art purchases at established galleries or auction houses.

While traditional galleries and auction houses remain important, emerging markets like local fairs and exhibitions offer opportunities to discover promising artists. These venues typically offer works at lower prices, but obviously with the right choices, these pieces can gain significant value as the artist’s career progresses. For example paintings continue to dominate as the highest purchased medium today, offering long-lasting appeal and growth potential.

Emphasizing quality and value, this approach resonates with Signet Bank, where priority lies quality and potential for value growth—an approach that any collector can adopt. And it doesn’t matter if you’re buying locally or internationally, carefully evaluating a piece’s aesthetic and future market is key.

Frank Plant, The Urn of Narcissus. 2015 Kristaps Gelzis, Untitled. 2012
Photo: Signet Bank publicity photo.

Are there any important basics to understand about investing in art?

Absolutely. Understanding the fundamentals is crucial when entering the art investment space. While many are initially drawn to art’s aesthetic appeal, successful investing requires a strategic approach and, as I’ve previously mentioned, a solid grasp of the market’s complexities. Like any other asset class, it demands research, patience, and careful planning. Here are four key principles to consider:

Market Research

Study artists, their trajectories, auction trends, and market dynamics. Gaining insight into the significance of an artist’s work, its historical or cultural impact, and recent sales results can provide a strong foundation for making informed decisions.

Quality Over Trends

Prioritize works with enduring quality and historical or emotional resonance. Chasing the latest trends may seem exciting, but their appeal can fade, leading to lost value. Many of the most valuable pieces have a timeless narrative and technical excellence that transcend momentary trends.

Patience and Long-Term Vision

Art investment is rarely about quick returns; it rewards those willing to wait. Most pieces gain value gradually, often as an artist’s reputation solidifies or historical significance grows. This slow, deliberate growth makes patience a key ally. 

Strategic Planning

Start small, focus on quality, and ensure proper storage and conservation to maintain value. A few carefully chosen pieces that align with your financial goals can be an effective way to learn the fundamentals of art investment. Controlled environments, appropriate insurance, and professional framing can ensure your artwork retains its condition and market worth over time.

Investment Practice

Can one learn this type of investing through formal education?

Definitely. Formal education can be a valuable starting point for those interested in art investment. While much of the learning comes from hands-on experience and personal research, academic programs provide a structured foundation, access to industry expertise, and networking opportunities.

Universities offer courses in art history, arts management, and cultural studies, which are excellent for building a deeper understanding of the art world. Institutions like Christie’s Education and Sotheby’s Institute of Art specialize in art market practices, collecting, and auction strategies, offering tailored approaches to the business of art.

While formal education isn’t the only way to learn about art investment, it offers a structured path to develop critical skills and expand your perspective in this unique field. As for the practical part, internships at galleries, auction houses, or museums are highly recommended. These opportunities provide firsthand exposure to the inner workings of the art market and complement academic studies with real-world insights.

Liga Spunde, The Hands. 2020 Samuel Salcedo, Totally Yours. 2014
signetbank.com signetbank.com

Is observing and studying the market a big part of art investment? What is the correct way to “observe and study” in this field?

Absolutely, observing and studying the art market is essential for successful art investment.

• Familiarize Yourself with Market Indicators: Start by understanding key market indicators to assess the overall health and trends of the art market. Auction houses like Sotheby’s and Christie’s regularly release detailed reports that highlight artists and styles gaining traction, offering invaluable insights into market dynamics.
• Follow Art Market Publications and News: Stay updated through reputable art magazines, websites, and newsletters, such as ArtNews, The Art Newspaper, and Artnet. Additionally, attending events like Art Basel, Frieze, and The Armory Show allows you to explore a variety of artists and galleries, providing a firsthand look at both established and emerging talents.
• Consider Broader Economic Factors: It’s also important to analyze how external factors—such as interest rates, inflation, and consumer spending—can influence art prices and demand. A well-rounded understanding of these elements will help you make more informed decisions.

How many artworks are needed to start a collection, and what are the best practices for storing them?

A collection doesn’t have to be extensive at the start. Investing in a few carefully selected pieces—whether paintings, sculptures, or prints—can lay the groundwork for a meaningful collection. Proper storage is crucial: artworks should be kept in climate-controlled environments, away from direct sunlight, and insured against potential damage.

With modern trends suggesting that rare or unusual pieces become popular, is the best strategy to seek out unique works?

While rarity can contribute to value, it is not the sole determinant of an artwork’s investment potential. It’s important to look beyond uniqueness and focus on pieces with strong narratives, aesthetic appeal, and technical excellence. Many collectors today gravitate toward art that reflects societal themes such as sustainability, political movements, and diversity, as these works tend to hold lasting significance.

4 tips from Ineta Done for those thinking of starting to invest in art

Educate Yourself—Explore different styles, mediums, and historical contexts. Knowledge is a key asset in navigating the art market.

Clarify Your Objectives—Determine whether your goal is long-term appreciation or collecting works with personal significance. This will shape your approach and ensure your portfolio aligns with your vision.

Build a Network—Establish connections with galleries, curators, and fellow collectors. Attending fairs and exhibitions offers valuable market insights.

Trust Your Instincts— While market trends provide guidance, personal intuition is equally important. Invest in pieces that resonate with you, even if they diverge from popular trends.

Francis Alys, Photographic documentation of the performance created as part of Manifesto X. 2014
signetbank.com

Could you tell us about Signet Bank’s art collection?

Since 2015, Signet Bank has been dedicated to curating an international collection of contemporary art that reflects our commitment to boldness and innovation. Spanning various media, including painting, sculpture, graphic art, photography, and mixed techniques, our collection is carefully selected for its visual appeal and potential for value growth.

Our artworks are thoughtfully integrated into the bank’s interiors, enriching the ambiance and creating an environment that captivates and engages both clients and guests. Beyond their visual appeal, these pieces act as catalysts for conversation, embodying our philosophy of embracing art that challenges norms and sparks meaningful dialogue.

The collection features a diverse range of talented artists, each offering unique perspectives and styles. For instance, KIWIE captivates with vibrant and evocative street art, Deniss Prasolov explores perceptions of space and materiality through his sculptures and installations, and Francis Alÿs delves into social and political themes, often merging art with activism. Through this collection, Signet Bank not only supports these exceptional artists but also fosters dialogue about the evolving role of art in contemporary society.

Marko Maetamm, Money. 2014 Kaido Ole, Hey, It’s Me! 2017
signetbank.com signetbank.com

Trends in Art Investment

What are some notable trends in art investment today?

In terms of themes, social and environmental issues are increasingly prominent, especially among younger collectors. Many investors are now focused on supporting causes through their art purchases, aligning their investments with their values.

Alongside this, there’s noticeable interest in emerging artists, particularly those from underrepresented backgrounds. Traditional media—paintings, sculptures, and works on paper—continue to hold strong in collections likely due to their historical significance and enduring appeal. As a matter of fact, paintings have been the most purchased medium in 2023, followed by works on paper, sculptures, and prints.

Living in a digital era with near-instant access to information, collectors are also placing a higher premium on transparency and ethical sourcing. This trend toward ethical practices is influencing the market, and it aligns with the approach we take at Signet Bank, where transparency and responsibility guide our acquisitions.

How do you view digital art and NFTs? Do you think they will play a major role in the market?

I can’t deny the fast-growing NFT market, especially in the context of the ongoing digitalization of the art world. NFTs and digital art have opened up a new realm for both artists and collectors. They provide a way for artists to tokenize their work, giving digital art a tangible sense of provenance that was previously hard to establish.

For instance, Beeple’s sale of Everydays: The first 5000 Days as an NFT for $69 million at a Christie’s auction in 2021 marked a milestone for the medium, proving that digital art can indeed command high value. Companies like Paiblock are helping to democratize the space by offering affordable minting services, allowing more artists to enter the NFT market without the burden of steep fees. This accessibility appeals to those deeply involved in digital content, particularly younger generations. We’re also witnessing an increasing presence of digital art in museums and galleries, indicating its growing legitimacy in the art world.

How does the art investment market in Latvia compare to global trends?

Latvia’s art market is reflecting many of the global trends I’ve discussed, particularly in terms of social and environmental themes. However, there’s also a growing appreciation for works by local and emerging artists. With a focus on sustainability and social justice, the Latvian market is slowly trying to catch up to international trends, while still maintaining its distinct cultural identity.  Like elsewhere, traditional media still hold strong, but there’s a visible shift towards digital art, especially among younger collectors, who are more attuned to the digital space.

Michele Giangrande, The pillars of creation (Time, Space, Gravity). 2016.
Photo: Signet Bank publicity photo.

Author : editor nbhd

Date: 23.05.25