How to Start an Art Collection
Figure out your own motives., Be aware that each of the above motivations are relevant - and each requires a different game plan., If you are investing, then you must do your homework and build contacts in the art world, that you can trust., Know...
Step-by-Step Guide
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Step 1: Figure out your own motives.
Do you want something to brighten up your room, or match the curtains? Or are you hoping to make money from the recovering art market? Or are you attracted to art as a fascinating long-term commitment? -
Step 2: Be aware that each of the above motivations are relevant - and each requires a different game plan.
If you are looking for something you like, then it's easy: go with your gut feelings. , In other words, you can buy art from a West London heavyweight dealer and be assured of its quality, but end up spending more money.
Or you can go to an East London gallery that showcases young artists, and spend less money but with more risk.
Whichever you choose, you must be prepared. , So, one-off originals are more valuable than multiple prints.
Paintings, drawings and collages are normally one-offs, but sculptures are often produced in editions of nine. , One way to make sure of this is that the artwork you like is signed and numbered.
This is also true of photographs.
Of course, photos can be reproduced very easily, so seek verification. , Is the artist dead? Then make sure that the photo is vintage, ie, authorized by him or her.
If the photo is modern, then does it come with the original negative to ensure that it isn't a copy? Also, in today's age of digital photography, some studios make a point of producing hand-printed, signed originals. , Art, they say, is an intellectual pursuit.
Your collection should be embraced as an educational process. , Learn about the different artists (how they have progressed over time, for instance) and feel your passion grow. , A good way to do this is to start with drawings.
Buy posters and postcards and put them on the walls of your home or desk.
This will train your eye, and help you realize the aspects of art you love, and those you find forgettable. , Collectors have many different methods for choosing the works they wish to buy.
A prolific and globally-renowned collector like David Geffen, the very wealthy record label executive, often cites the "wow" factor (in other words, he buys art which makes him think "wow!"). , Getting to know what you are like as a collector requires that you do so.
Also, museums, galleries and auctioneers are making themselves increasingly accessible to collectors, so join their mailing lists. , Always remember: there is no "right way to discuss art," so don't be shy when you meet connoisseurs.
Also, don't worry that you "know nothing about art".
You know what you know, and must feel free and confident to talk about it in your own language. , In terms of money, remember that collecting is an evolutionary process.
Look at some of the greatest collections in the world: they started with initial purchases or just a few thousand dollars, and were then built upwards.
Good art dealers appreciate this, and will work with you to build your collection up. , It is vital that you take your time. , This will generally be a dealer who makes themselves available, and will work with you to learn and slowly build up your significant collection.
The best dealers are like counselors, and should be worthy of your trust. , Especially those who sell art as a commodity.
Art collecting revolves around passion and belief.
Relying on saleability as your ultimate goal simply won't work. ,,, While price should never be your main driving factor, look at the amounts works have been selling for at auctions or at past shows. , Or, can they can resell it if you later want to buy something else, or something better, by an artist? , It helps to have contacts.
Introduce yourself to the representatives in your field of interest.
Ideally, you should know the people at the auction house as well as you know your favorite dealer. , Especially if you are there mainly for investment reasons.
Talking to people can be key: be prepared to question the artist's dealer, or even the artist, about the work itself. ,, The costs of restoration and framing can be costly, and insurance is vital.
Works on paper should be kept away from sunlight.
If the works are going to be on a wall, it needs to be glazed according to museum standards with acid-free matting and ultraviolet light-resistance glass.
If the work is more than 10 years old, then you should have an art conservator look at it before it is framed. , If you maintain and look after your art, you may one day be asked to loan them to an artist or museum.
Over the art's lifetime, you may find yourself dealing with museums and other institutions as a custodian of the historic artwork, rather than simply as an owner. , Otherwise you may buy something that doesn't possess the depth a work of art should evoke.
Or pass on something and later you realize that you should have bought it.
It is better to take chances
- but ensure that those chances are born of a genuine passion. , In other words, you will potentially be surrounded by things that you don't like and don't want to live with. , It can also help to become a member of an art dealers' association. , -
Step 3: If you are investing
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Step 4: then you must do your homework and build contacts in the art world
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Step 5: that you can trust.
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Step 6: Know that rarity equals value as well as quality.
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Step 7: Understand the smaller the edition
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Step 8: the higher the price.
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Step 9: Do your research.
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Step 10: Educate yourself.
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Step 11: Develop your art taste buds by looking at lots of art
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Step 12: and hone your appreciation for the aesthetics.
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Step 13: Develop an understanding of the artists.
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Step 14: Choose the art that's right for you.
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Step 15: Go out and view lots of artworks.
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Step 16: Talk your own language.
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Step 17: You don't need to spend a lot of money.
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Step 18: Above all
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Step 19: don't rush.
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Step 20: Find a dealer that you can trust.
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Step 21: Avoid salespeople.
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Step 22: Also remember that a dealer who trusts their own choices won't refer to an artwork's price history as their primary justification.
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Step 23: An artwork's price history on its own is no guarantee of anything
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Step 24: and will only give you other people's (possibly inaccurate) predictions.
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Step 25: Get the price right.
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Step 26: Ask your dealer if you can exchange the work in the future.
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Step 27: Build a relationship with the auction house.
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Step 28: Observe
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Step 29: listen
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Step 30: learn and ask questions.
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Step 31: Remember
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Step 32: a collector should be as passionate about the work as the artist; which can require you to be very passionate indeed.
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Step 33: Bear in mind the hidden costs.
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Step 34: Also remember that
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Step 35: with art
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Step 36: you are buying objects that have a life of their own.
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Step 37: Avoid the biggest mistake a collector can make; not being informed enough!
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Step 38: Be warned that if you treat art like a commodity
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Step 39: you will end up with stocks or certificates on your wall.
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Step 40: Equip yourself with a knowledge of art history
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Step 41: the history of the markets
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Step 42: and the current art scene.
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Step 43: Above all
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Step 44: ensure that you amass a collection that you will love and can live with (potentially) for the rest of your life.
Detailed Guide
Do you want something to brighten up your room, or match the curtains? Or are you hoping to make money from the recovering art market? Or are you attracted to art as a fascinating long-term commitment?
If you are looking for something you like, then it's easy: go with your gut feelings. , In other words, you can buy art from a West London heavyweight dealer and be assured of its quality, but end up spending more money.
Or you can go to an East London gallery that showcases young artists, and spend less money but with more risk.
Whichever you choose, you must be prepared. , So, one-off originals are more valuable than multiple prints.
Paintings, drawings and collages are normally one-offs, but sculptures are often produced in editions of nine. , One way to make sure of this is that the artwork you like is signed and numbered.
This is also true of photographs.
Of course, photos can be reproduced very easily, so seek verification. , Is the artist dead? Then make sure that the photo is vintage, ie, authorized by him or her.
If the photo is modern, then does it come with the original negative to ensure that it isn't a copy? Also, in today's age of digital photography, some studios make a point of producing hand-printed, signed originals. , Art, they say, is an intellectual pursuit.
Your collection should be embraced as an educational process. , Learn about the different artists (how they have progressed over time, for instance) and feel your passion grow. , A good way to do this is to start with drawings.
Buy posters and postcards and put them on the walls of your home or desk.
This will train your eye, and help you realize the aspects of art you love, and those you find forgettable. , Collectors have many different methods for choosing the works they wish to buy.
A prolific and globally-renowned collector like David Geffen, the very wealthy record label executive, often cites the "wow" factor (in other words, he buys art which makes him think "wow!"). , Getting to know what you are like as a collector requires that you do so.
Also, museums, galleries and auctioneers are making themselves increasingly accessible to collectors, so join their mailing lists. , Always remember: there is no "right way to discuss art," so don't be shy when you meet connoisseurs.
Also, don't worry that you "know nothing about art".
You know what you know, and must feel free and confident to talk about it in your own language. , In terms of money, remember that collecting is an evolutionary process.
Look at some of the greatest collections in the world: they started with initial purchases or just a few thousand dollars, and were then built upwards.
Good art dealers appreciate this, and will work with you to build your collection up. , It is vital that you take your time. , This will generally be a dealer who makes themselves available, and will work with you to learn and slowly build up your significant collection.
The best dealers are like counselors, and should be worthy of your trust. , Especially those who sell art as a commodity.
Art collecting revolves around passion and belief.
Relying on saleability as your ultimate goal simply won't work. ,,, While price should never be your main driving factor, look at the amounts works have been selling for at auctions or at past shows. , Or, can they can resell it if you later want to buy something else, or something better, by an artist? , It helps to have contacts.
Introduce yourself to the representatives in your field of interest.
Ideally, you should know the people at the auction house as well as you know your favorite dealer. , Especially if you are there mainly for investment reasons.
Talking to people can be key: be prepared to question the artist's dealer, or even the artist, about the work itself. ,, The costs of restoration and framing can be costly, and insurance is vital.
Works on paper should be kept away from sunlight.
If the works are going to be on a wall, it needs to be glazed according to museum standards with acid-free matting and ultraviolet light-resistance glass.
If the work is more than 10 years old, then you should have an art conservator look at it before it is framed. , If you maintain and look after your art, you may one day be asked to loan them to an artist or museum.
Over the art's lifetime, you may find yourself dealing with museums and other institutions as a custodian of the historic artwork, rather than simply as an owner. , Otherwise you may buy something that doesn't possess the depth a work of art should evoke.
Or pass on something and later you realize that you should have bought it.
It is better to take chances
- but ensure that those chances are born of a genuine passion. , In other words, you will potentially be surrounded by things that you don't like and don't want to live with. , It can also help to become a member of an art dealers' association. ,
About the Author
Jose Patel
Committed to making hobbies accessible and understandable for everyone.
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