The best chance of identifying the next Damien Hirst is by keeping track of galleries who have promoted and nurtured emerging artists; such as Saatchi, White Cube (left), as well as visiting Contemporary Art Fairs and Museums.
Sourcing artists responsible for pioneering new trends can be extremely rewarding financially. For example those who have identified Chinese contemporary as the newest trend are currently being rewarded for their prescience.
One could deduce from this that Chinese contemporary photography and photography in general may have good investment potential, as this market appears to offer value.
Purchasing pieces from such artists needs to be done selectively, being distinctive of that artist's characteristic style and a quality piece of work. It can be a big mistake to buy poor quality doodles from big names. The productivity, trend leadership and activity in promotion of that artist is also very important.
Most importantly, once you have developed your trend-spottng instincts, do not under-estimate the intricately detailed intelligence stored in human emotion, with the above in mind, buy what you love!
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