So you want to start an art collection?
Have no idea where to start?
If you’re just starting to think about venturing into the world of art collecting the process can certainly seem daunting. We’re not all getting regular invites to hang with the art glitterati, so feeling confident to take the plunge on a purchase is nerve-racking. How do you know what to buy without potentially getting ripped off or spending a fortune? We get it. It’s not the easiest terrain to navigate. But have no fear, tondo’s here with our top 5 tips for art lovers who want to become art collectors.
This sounds like a cliché and you’ve probably heard it before, but it’s too good a point to skip. Whether you end up buying a piece for $300 or a piece for $10,000 you’re going to want to enjoy living with it. In fact, you’re going to want to be somewhat obsessed with it, so not only is it worth the money you pay, but also the time you put into acquiring it.
Decide ahead of time how much you’re willing to spend on a piece. This will help you hone in on how you approach your search for the perfect work and might even steer you towards artworks you weren’t considering before like prints, photographs, and editions.
The bottom line is that learning everything you need to know about an artist whose work you are considering buying can be uber time consuming. It’s also uber necessary. If you spot a piece you love, find out more about the artist, how much similar works have sold for, and if the work has any provenance or comes directly from the artist’s studio.
In order to find what you love and have something to do research ON, you need to be out in the art space, getting your groove on at museums, gallery exhibitions and other events. Think outside the box too. You don’t need to pay to be a member of a swanky club (though this doesn’t hurt if you have the funds). Check out local colleges for MFA open houses or see if galleries near you are organizing artist studio visits.
Now consider all of these points, and add a ribbon on top: the "make it count" ribbon. Yes, it’s still important to buy what you love, for the price you want, through what you see in your outings, after you research it, but all in all you want your purchase to count as much as possible. Wouldn’t it be great if your piece increased in value over the next 5 years AND you loved it? That can be possible if you’re doing the right research, asking the right questions, and being smart about your purchase.
That’s it. You’re on your way to becoming a pro collector! Now get a move on and remember our tips.
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