Why Buy Art

If you ask any two collectors, no doubt their reasons for buying art are entirely different. Motivations range from investment potential to the sentimental to finding a place in art history. No matter your motivation, my bet is that your thoughts run the gamut. For example, even the most academic scholar will still consider the investment potential of an artist/painting before sinking a substantial sum into a work. Unless you are Bill Gates or Warren Buffet, there is little chance that you could consider spending what many spend on art without a thought to the future. At the same time, even the most hardened investor probably won't buy works that he doesn't aesthetically enjoy. 

Here are my top reasons why people do and should spend time and money on art:

1. Something beautiful to look at - everyone needs a bit of beauty in their life - whether it is fresh cut flowers, a nice vacation home, or a new dress. Beauty is important to everyone.
   
2. Intellectual stimulation - every time you walk into a room and see a painting you've purchased, you think about what message the artist was trying to convey, what message you get out of it, what it means (in the most philosophical sense). Maybe collectors enjoy art as a thought project and most say that they learn to understand a piece over many years.
   
3. Being a part of art history - the great patrons of the arts always go down in history. Think about Vermeer's patrons or Rubens' patrons. There is something particularly stimulating to some people about contributing or helping to contribute to the general conversation about art and art history
4. To own an heirloom - family is very important to people and having a work of art that you know your great-grand children will own is very rewarding. It is a shared and common experience between generations that present longevity cannot afford.
5. Investment potential - before the art market collasped, many people were fond of "flipping" works of art. If you come across a great deal you were able to turn around and sell it at a profit. 
6. Discovery - there are artists being created every day and who knows when the next Picasso or Vermeer will pop up. If you keep a close enough eye on the art world, you might discover that person. Not only will you have art that greatly appreciates in value, but you will also have the satisfaction of saying you knew of his/her genius first. 

Undoubtedly there are more motivations, but those are the most immediate to me. Any collectors out there want to comment?