Guide to Starting Your Own Art Collection
Art collecting is a labor of love. And while people get charmed by “love”, we would like to focus on the more important and the absolutely necessary part of building an art collection - the labor.
As every aspiring art collector knows, the art world can be difficult to enter, but it’s definitely not impossible. With the right attitude and enthusiasm, a yesterday’s novice can become an insider rather quickly if he plays his game right. Like in every business, there are several steps every aspiring collector should follow, turning the interest of the moment in art into a lifetime endeavor.
Be Smart About Budget
Before we move on, there is one myth to break. Despite the common belief that an art collector needs to be rich, you do not need a lot of money to start your own art collection. On the contrary, time is a much more important investment. Buying art slowly and being clever about it can not only economical, but it can prove itself a much better investment in the long run. What many people don’t realize is that young and emerging artists will sell originals at prices lower than signed famous posters. Still - it’s always better to go with an original or a limited edition piece than with a mass-produced visual because the first ones can only gain value in time, while the latter one can lose it. Remember - an original, coherent collection is an asset that can only gain value in the future.
Why do You Collect Art?
The first and the most important thing is to define your motives for collecting art. What is it that drives you towards this activity? How strong is your passion for art and what are you hoping to achieve? Although there is nothing wrong with buying art just to flip it later, the absolute majority of art experts and professionals agree - if you’re not in it with your heart, find another hobby.
Make a Concept
Figuring out the concept of an art collection can be either a short or a lengthy process and it’s strongly connected with the collector’s taste. Therefore - you should focus on discovering your own taste in art and sharpening your knowledge in the particular area of artistic production. A clear concept will help make a consistent collection that can eventually gain a museum-level value.
While some art lovers know their preference right away, others need more time to find out where their interest lies. Whether you decide to collect young art, prints or editions, sculpture or painting, make sure that your concept is fresh and that it reflects your personality throughout.
Never Stop Learning
There is no person who knows everything about art and this is why continuous learning is important. Regardless of your personal interests and the concept, getting deep into the subject can help you know who are the best artists to collect, how to recognize the future stars and also what are good prices for the art you’re after. Art education should last as long as the collecting itself, but it’s not all in the books. The real knowledge of the scene lies in looking at art in museums, galleries and at art fairs, and especially in networking with the right crowd.
The Power of the Internet
The Internet is a great place for art. It has heaps of educational pages, but also several great art marketplaces. Depending on your budget and interests, find a respectable online art dealer and don’t be afraid to purchase online. A lot of major art galleries and auction houses are moving parts of their operation to the web because it’s the future for sourcing all kinds of artistic creations. Do scroll through Instagram, but some of the best deals can be found on marketplace locations.
Build Your Art Collection Slowly
Finally, don’t push yourself to buy quickly or to go big. Sometimes, it’s better to start small and focus on more affordable pieces that represent interesting artists and speak about a moment in art history, because they are the ones that will attract the most attention in the future. Being consistent and not giving in to impulse purchases is what will produce an attention-worthy collection. All you need to do is to be wise and persistent.