Art for art's sake in CBD

The 'off-the-wall' art sale Art Mart launched in the CBD last week brings a new concept to Perth, hoping to familiarise more people to art investment.

The three week-long 'art market' located on 834, Hay Street provides the average punter as well as established investors, with a selection of recognised Australian artists at a wide price range; and the works can be taken home straight after the sale.

Works from big names such as New South Wales artists Pro Hart, Kym Hart and WA artist William Boissevain can be found there.

According to Art Mart director and curator Randall Ismay, Art Mart is an ideal introduction to art investment which can be a tedious and intimidating exercise for debutant investors.

"The idea [with Art Mart] is to create a new situation which is less intimidating for people. A lot of people don't go to exhibitions because they don't know the artist or they don't know art well enough," Mr Ismay told WA Business News.

With most major art galleries now dispersed in the suburbs because of the CBD's rising rent prices, King Street's Greehill galleries relocating to Dalkeith this year is the latest to date, it is no longer easy to judge between a pallet of artists.

"What we've got here is high quality art from well known artists; if you didn't know art and you were starting off an art collection you can draw comparison here. We don't mean to be a slick gallery; this is a market where people can cash and carry," he said.

Mr Ismay gathered a total of $500,000 worth of art work from art galleries unsold stocks and directly through artists too.

20-year-long art dealer and director of Wylde Australian Art, Rod Wylde says art is a blue chip investment which is never going to go down.

"Some artists are worth more than others obviously and will go up a certain percentage, but unless the artist dies, you can only know that from a 20-year experience in the industry," Mr Wylde says.