Starting an art collection can be a rewarding journey that enhances your live, your space and connects you with creativity and culture. Here are some expert insights and tips to guide you on this path.
The approach to art collecting is guided by a belief in personal resonance and values over market trends or investment potential. We advocate for collecting art that speaks to one's individual interests, taste, creates emotional connections, and reflects one's personal journey and experiences. This vision emphasises the importance of supporting emerging artists and diverse expressions, ensuring the collection grows not just in value but in cultural significance and personal relevance.
Before starting to collect art, consider asking these pivotal questions:
What inspires me in art? (Identify your interests, tastes and preferences.)
To identify what inspires you in art, immerse yourself in various styles and periods, noting your emotional and intellectual responses. Explore galleries, museums, and online platforms. Pay attention to themes, and techniques that draw you in. Reflect on artworks that linger in your mind or evoke strong feelings. Consider keeping an art journal to document your thoughts and preferences. This reflective process helps in understanding your unique artistic inclinations, guiding your journey towards collecting art that genuinely resonates with you.
What is my budget? (Establish financial boundaries.)
To know your art buying budget, assess your finances to determine a comfortable spending limit. Allocate a portion of your disposable income for art, considering both enjoyment and potential valuable purchases. Understanding market prices for different art forms can also guide your budgeting. This approach ensures a balanced and enjoyable art collecting journey.
How do I assess the value of art? (Learn about valuation factors.)
Assessing the value of contemporary art involves analyzing the artist's market presence, including solo exhibitions, representation by galleries, art fairs presence, and inclusion in public collections and museums. Critical acclaim and awards can also indicate value. Market trends and sales records provide insights into financial valuation. Engaging with art professionals, like appraisers or advisors, who understand the current art market's nuances, can offer valuable perspectives. Ultimately, the art's intrinsic value to you, in terms of personal enjoyment and connection, should also be a key consideration in its assessment.
Where should I buy art? (Consider galleries, online platforms, auctions, and art fairs.)
Explore options like local art galleries, local Contemporary Art Museums and Foundations which offer curated collections. Go to the main art fairs of contemporary art. Online platforms and marketplaces provide access to a wide range of artists and options globally.
What are the logistics involved in collecting art? (Think about storage, insurance, and care.)
The logistics involved in collecting art include ensuring proper transportation and installation, acquiring insurance to protect against damage or theft, and understanding the maintenance required to preserve the artwork's condition. Additionally, consider storage solutions for pieces not on display and the legal aspects, such as authenticity certification and provenance documentation. These steps ensure the art's physical safety and its value retention over time.
Addtional insights
Understand the artists and the works
To understand an artist, research their background, education, and artistic influences. Explore their body of work to grasp their themes, techniques, and evolution over time. Reading interviews and critiques provides insight into their intentions and the contexts of their work. Speak to the gallerist and the artist.
Whether you're interested in art education, exhibitions, events, talks, new artworks or anything in between, our newsletter has something for everyone. So don't miss out – sign up today and join the community of savvy subscribers who stay ahead of the curve!
