Whether it comes to oil paintings, modern wall art, or large sculptures, you do not need to be a millionaire to start collecting fine art pieces. The most important thing is to buy what you really like within the set budget. However, since art collecting is also the possibility to increase your capital, you should choose only the right artwork for your art collection.
All art collectors can be divided into two categories. The first category includes those, who perceive art as a reflection of their own personality; they dedicate lots of time and effort to their art collection and put it above everything else. The second category of art collectors perceives fine art pieces as a part of their home’s interior design. Both strategies have the right to exist, and both – especially in the early stages – need some useful tips from art business professionals. Hopefully, the following 10 will come in handy!
1. Find a reliable expert. Choose one or more fine art dealers you can trust. Don’t work with those, who promise you an incredible result in a short period of time.
2. Choose space for your art collection. Think about where you are going to exhibit and store your art collection before to actually start building it. Don’t forget that fine art pieces require special storage conditions and treatment.
3. Attend live auctions and monitor the sales results. The more you know about the current trends and the situation on the art market, the better your chances of buying a really good piece of art.
4. Visit art galleries and museums. You can learn much about all possible genres and periods by simply looking at different works of art exhibited at your local art galleries and museums. This will help you better understand what you want to collect.
5. Be critical. Even if you really like a particular piece of fine art, make sure you know everything you need before to actually buy it. Get a certificate of authenticity if possible.
6. Trust your intuition. Art is a unique area where rational laws do not always work. Therefore, sometimes it is necessary to use your intuition instead of logic.
7. Make friends with fine art business professionals. Appraisers, art consultants, gallerists, artists, and other art collectors can help you not only find exceptional works of art but also get the best offer.
8. Buy less but better. Don’t try to buy absolutely any artwork you can afford. Whether it comes to paintings, large sculptures, or anything in between, it is always better to purchase two or three more valuable and expensive items rather than to buy more but of average quality.
9. Pay attention to lesser-known artists. Buying fine art pieces by well-known artists is a reliable approach. However, it doesn’t mean that you should avoid works by lesser-known ones. Moreover, they won’t cost you a fortune.
10. Exhibit your art collection. Exhibitions, catalogs, publications, auction sales – they all significantly increase the cost of the artwork, so don’t keep your art collection secret.
Consider the written above tips, and chances are you will build an excellent collection of fine art pieces that can be passed down through generations. Good luck!