When it comes to investing, most people think of stocks, real estate, or retirement funds. But in the heart of Topeka, two gallery owners see art as an investment with its own unique rewards—both financial and deeply personal. Stephen Smith of Stephen Smith Gallery and Bob Swain of Beauchamp's Art Gallery believe that while art can hold monetary value, its greatest return comes in the form of inspiration, connection, and daily joy. Whether you’re looking to diversify your portfolio or simply bring more beauty into your life, these local experts share why investing in art is about so much more than just the numbers.
We spoke to Stephen Smith, owner of Stephen Smith Gallery, who emphasized that patience is key when collecting an artist’s work, as financial returns can take time. Rather than buying for investment purposes, he encourages people to find art that speaks to them and to personally enjoy it while they have it. “Owning and enjoying art goes way beyond the financial rewards,” he said. “When you connect with an artist and their work, and you purchase a piece or two, you’re making a long-term investment in your own joy, inspiration, and encouragement.”
Smith’s personal medium is photography. After years of operating Stephen Smith Images, he reimagined his photography studio into an art gallery in 2018. “Some art galleries are sterile and intimidating,” he shared. “But our gallery is the opposite. It’s very welcoming and warm.” There’s no pressure to buy. In fact, he considers it more like a museum. “Our main purpose isn’t just selling but also displaying. We want visitors to come in, look around, take their time, explore, and discover. When a gallery guest connects to an art piece, we are happy to help them own and display it in their environment.”
Stephen Smith Gallery is located in the historic building at 931 S. Kansas Avenue and dates back to 1888. Its design features original stone, brick, and concrete walls stretching upward to meet tall, ornate tin ceilings. “Artists and visitors alike love the architecture,” Smith said. “It’s simultaneously surprising and soothing.”
Smith shared that the goal of his gallery is to invite new collectors and artists and introduce them to each other, much like introducing friends. “Of course, we also appreciate seasoned artists and collectors, but everyone starts somewhere, and we welcome the curious and encourage new connections,” he said. “Ultimately, it’s thrilling for me to see new creators and collectors connect. It’s not so much about the medium as it is about good human beings realizing their dreams.”
We also spoke with Bob Swain, owner of Beauchamp's Art Gallery at 3113 SW Huntoon Street in Topeka, and his wife, Kim, are in their 20th year of business. Swain bought the gallery from a previous owner who had established it 30 years prior, making Beauchamp's the oldest continuously operating art gallery in Kansas. A painter himself, Swain decided to buy the studio after retiring from a career in the technology field.
“Bigger markets are more eclectic, but here in Topeka, when it comes to what’s popular, the prairie-related genre—whether modernist, traditional, impressionist, etc.—makes up 75% of our sales,” Swain shared. He surmises that it has something to do with the fact that most people in Topeka are only two or three generations removed from farm life. Historically, landscapes served only as backgrounds for subjects, but they took on a life of their own in the early 1800s. Today, landscapes remain universally popular.
When it comes to purchasing art for profit, Swain noted that very few people buy art solely as an investment. “First of all, it’s a much smaller market than, say, stocks,” he explained. “And it’s not very liquid, meaning it’s hard to turn around and get your money back out quickly.” However, he did mention an online investment platform called Masterworks, which allows investors to buy and trade shares in art from internationally known artists. “It’s appealing for investors who want to diversify their portfolios, and because art typically doesn’t fluctuate with the economy, it’s a good hedge against inflation.”
For those interested in dabbling in art investment, Swain offered these tips:
● Buy from professional, active, working artists who are established. As names become known, the pieces increase in value.
● Have a long-term horizon for resale (ten years or more). Don’t go in with a preconceived timeline for profit.
● Be patient. There’s no way to predict what will become popular and more valuable.
Swain’s top tip for investing in art, however, is to follow your heart. “My best advice for the personal shopper is to buy to enjoy,” he said. “This is something that you will see every day. If the piece speaks to you, buy it.”
If you’re interested in investing in art—whether for financial or personal enrichment—stop by one of these local galleries or try attending a First Friday Art Walk. It’s a great opportunity to see work from local Topeka artists. “First Fridays make a great date night, too!” - Stephen Smith
“Enjoy the art. Artists want to communicate the vision or the truth that they’ve seen. Art is to be enjoyed and shared.” - Bob Swain