When the word “art” is mentioned, people tend to shy away from the conversation as they feel embarrassed to engage in it – this is a unique reaction to the Art Market. No other industry seems to be mortified when showing off their expertise so why shouldn’t art collectors feel proud of their passion? As a person who is new to art collecting it can be difficult to know how to go about making decisions when you are inexperienced in the market. This blog includes 5 pieces of advice that we would give to anyone who wants to start an art collection.
- Educate yourself
It is fundamental to do your research when collecting art – the more knowledge you have, the more informed your choices will be. It is up to you to educate yourself and look at as much art as possible so you get a feel of what styles you like and what catches your eye the most. The easiest way of gaining this knowledge is to visit galleries, exhibitions etc. as well as reading books and watching documentaries. In addition to this, another great way of educating yourself is to simply ask questions. Dealers, Gallerists and Auctions Specialists all have a passion for what they do and are always looking to develop their audience and share their experiences – you don’t need to have an art degree to expand your apprehension and awareness surrounding art!
- Understand the Art Market
There are numerous ways of buying art – galleries, auctions, graduate shows, studio visits etc. Understanding the specifics of each option is vital as they all offer different opportunities for the art collector.
- Buy what you love
When becoming an art collector it is important to focus on the things you love and respond to emotionally. You will be living with the art that you choose and therefore will be seeing it everyday. Remember that over time, it is normal for your taste in art to change. More often than not collectors end up moving away entirely from where they originally started.
- Take your time
Don’t buy the first thing you see! Take your time and don’t rush your decision. The Art Market has been around for a very long time and will continue to be there once you’ve stopped collecting. It is good to be enthusiastic but it is easy to make mistakes if you dive in without doing your research.
- Understand your budget
The world of art collecting is not cheap! Unless you happen to be related to a billionaire, you will need to work within a defined budget when selecting your art pieces – knowing these parameters will have a positive effect when collecting art.
It is important to take these five key points into consideration when beginning an art collection to ensure that you are making the right choices and invest in something you love.