How to Buy and Collect Art: A Beginner's Guide
Collecting art might sound like an elite hobby, but guess what? Anyone can do it! That’s right, you don’t need a degree in art history or years of experience. All you need is a love for art, a desire to collect, and a few simple techniques to evaluate art effectively. Let’s dive into the essentials and make you a savvy art collector! 🎨
What Is Your Budget
The first (hardest and most sensible) thing to do is to determine your budget. Your budget will give you some clues where to look for your next art piece. It could be anywhere from an art market to an online store or a reputable gallery. The following approach applies to art works available from all venues to a greater or lesser extent – I’m sure no-one expects to buy an original Picasso from an art fair for $100 (although this has happened 😉).
Ask the Right Questions
When you find a piece of art that catches your eye, start by asking yourself four key questions:
Who is the artist and what is their history and background?
How significant or important is the art?
What is its provenance, history, and documentation?
Is the asking price fair?
These questions will guide you in making informed decisions. Now, let’s break down each one.
Evaluating the Artist
To understand who the artist is, you need both spoken and written information. Spoken info usually comes from the artist, dealer, or gallery. Written info can be found on artist websites, gallery sites, online databases, exhibition catalogues, and perhaps, art reference books.
Birth and Death Dates: Basic but important!
Residence and Work: Where do they create?
Education: Where, when, and with whom did they study?
Exhibitions: Which galleries and museums have shown their work?
Awards: Any prizes or grants?
Collections: Are their works in significant public or private collections?
Knowing these details helps you gauge the artist’s significance. Remember, the more documented the artist, the better!
Assessing the Art's Importance
This can be a measure of the arts importance to you personally, or to the art world in general – don’t walk past a piece you love because it is so far unrecognised. Look at as much of the artist's work as you can. This helps you understand the context of the piece you’re interested in.
Inspect Thoroughly: Look at the art from all angles. Check the back, sides, and any signatures or labels.
Original or Reproduction?: Ensure you know whether it’s an original piece or a limited edition print.
Major or Minor Work?: Is it a significant piece or a quick sketch?
Typical or Atypical?: Is it representative of the artist’s well-known style?
Understanding these aspects will help you determine how this particular piece fits into the artist’s body of work.
Understanding Provenance
Provenance refers to the history of the artwork—where it’s been and who’s owned it.
Exhibition History: Has it been part of significant shows?
Ownership History: Who has owned it?
Awards and Mentions: Has it won any awards or been mentioned in significant publications?
Good provenance can enhance the artwork’s value and collectability. Always seek concrete, verifiable information and avoid relying on hearsay.
Determining Fair Pricing
Pricing art can seem mysterious, but it’s not much different from other purchases.
Research Past Sales: Look for previous sales of similar works by the artist. Auction records and gallery sales can provide useful benchmarks.
Compare and Contrast: Evaluate the art against similar pieces both by the same artist and other similarly regarded artists. Consistency in pricing across different venues suggests fairness.
Auction Records: These are valuable but remember that auction prices tend to be lower than gallery prices.
By comparing prices and ensuring consistency, you can feel confident about the fairness of the asking price.
Collecting art is a journey of passion and discovery. With these tips, you’ll be able to make informed decisions and enjoy building your collection. Remember, there’s no right or wrong way to collect art—just follow your heart and have fun! Happy collecting! 🖼️✨
