A house doesn't really feel like a home until there's artwork adorning the walls. Sometimes the process of selecting and displaying original works can be intimidating, which often results in blank walls long after you've moved in.
Some people look at original artwork as an investment. while it certainly is possible for a piece to increase in value that shouldn't be your main motivation in selecting artwork. There's really only one rule to follow: love the piece! When you emotionally connect with a work of art it will always hold an inherent value to you regardless of its worth on the market.
Like the art itself, the frame should make a statement about your personal style; as well as enhancing the piece's beauty and help to protect it. It's important to always use good quality materials, acid-free matting and backing. Cheaper materials may save you money now but over time will fade and damage the artwork.
Artwork does best in stable climates so avoid hanging pieces where temperature and humidity levels fluctuate like kitchens and bathrooms. While the space above the fireplace seems like an ideal place you might be subjecting the artwork to extreme temperatures as well as soot. Exposure to direct sunlight and UV lighting should also be avoided. Picture lights, designed to attach to frames can also be harmful. Indirect sunlight, recessed lighting or ceiling mounted spotlights work best for home installed art.
The biggest mistake made in displaying artwork is hanging it too high where it doesn't relate to the rest of the furnishings. Common custom is to hang it at eye level but that means different heights for different people. A good rule of thumb is to hang it 60 to 65 inches from floor to the centre of the art.