Posts Tagged ‘Art Collector’

How to Become an Art Collector

January 10th, 2010

Know what you like. The only way to do this is to look at lots of art. You can look in your phone book or do a Google search for art galleries in your area. Devote a Saturday or two to go gallery-hopping with absolutely no intention to buy. Spend some time browsing on art-related websites. Read some books about art. You don’t need a degree in art history to figure out what kinds of art you are attracted to. Write down the names of any artists you really like. Join art communities. This is simpler than it sounds. Get on the mailing lists of local galleries so you get invited to art openings. Subscribe to the mailing lists and blogs of artists that you like. Read and post on art forums online. Talk to artists. When you see art on someone’s wall, express your curiosity. Lots of people out there are into art. Find the people who like what you like! Doing this will help you learn more about any topic that interests you, and art is no exception. Determine your art budget. You may have to look at your finances to figure out how much you can afford to spend on art. Try to get a dollar amount. For some people it might be only $100/year, for others it might be $10,000. Don’t be discouraged if your art budget is small—it is possible to find something you love in any price range. (If your budget is small, consider buying a small piece, a print or a reproduction to start your collection. ) At this point you’ll start to get excited about the possibilities, but you shouldn’t necessarily buy the first thing you see. Make a plan. I read somewhere that all you need to do to become an art collector is to buy one piece of art once a year—perhaps on your birthday or wedding anniversary as a gift to yourself. Start small. You build a collection one piece at a time. Spend some time thinking about what kind of art you’d like to hang in your home, and how the different pieces will go together. Your collection is yours alone and can be anything you want it to be. You can decide to collect a particular theme, style, or genre of art, but you don’t have to. Buy from serious artists. It is okay to buy work from a young artist or an artist who doesn’t yet have many credentials. Emerging artists tend to have lower prices, and it is exciting to seek them out. Of course your first consideration should always be that you love the work. But you should also ask yourself, “Is this a serious artist?” Questions to ask might include: * How many years have they been working? * Have they received university-level art training? * Do they show in galleries? * Have they won any awards? * Do they have a website? * Has their name been mentioned in any press? * Do they have a recognizable style? * Are they serious about their craft and technically proficient? * Have they sold a lot of artwork? An artist certainly does not have to meet all of these criteria, but it should be clear to you that the artist is serious about his or her work. This will not only protect your long-term investment, but it will also give you the pleasure of following the artist’s career over the years and knowing you are a part of it.

The Skill of Buying Art

December 31st, 2009

If you don’t love art, and are simply considering buying art as an investment, the best advice is to find something else to invest in. Collecting and buying art should be a labor of love, not a cold-hearted financial calculation.

When buying art there are many factors that a serious art collector should look at in order to get the best deal. In no particular order they are:

1. Know Your budget

No matter how much you like an art piece, don’t put yourself in enormous debt to acquire it. If you can’t afford it, so be it. Just let it go and wait for something to show up that fits your budget. No art collector in the world gets every piece he is attracted to.

2. Know Your Art Dealers

Once you know what kind of art you like, find the galleries that sell it. Introduce yourself to the gallery owners. Form a relationship with them. Let them know what types of art pieces you’re interested in. Then when they get a new piece or art in, your name will be near the top of the list of people that they notify. This is an excellent way to get first crack at art pieces that normal people will never see, because they simply are never put up for sale.

Developing relationships with reputable art dealers also helps to protect you from scams. You can have faith that the art pieces you get are original pieces and not simply knock-offs.

Also, if you come to love the work of a particular artist, you may find that his or her work is carried primarily through a particular dealer. All the more reason to become friendly with as many art dealers as you can.

3. Know Your Own Tastes

Never buy something just because an “art expert” tells you that it is a beautiful, classic piece of art. If the art piece means nothing to you, it’s not worth you buying it. Unless you’re a professional trader, the art piece you buy is going to be something that you own and look at for years. So choose art that speaks to you. And to do that, you need to know what you like and what you don’t like.

An important secondary benefit of knowing your taste is it gives you the ability to clearly state your desires to art dealers that you work with to help build your collection.

4. Negotiate the Price

Just because an art piece has a price tag on it does not mean that you have to pay that price. Art prices are not set in stone. Don’t be afraid of dickering with dealers. In most cases it’s even expected.

5. Insure Your Art

There are few things more devastating than losing your art treasures through fire or theft. But the financial losses can possibly even be worse.

Whenever you buy a piece of collectible art, call your insurance broker and make sure she includes it on your policy. If you have a good homeowners policy, it will probably already provide general coverage. But if you have art pieces that are documented collectible items, you want to definitely ensure that this is noted on your policy – even if you have to buy an additional rider for it.

It’s also important to note that insurance will not only cover things like fire and theft, as mentioned above. It will also cover things like water damage, breakage, moving, and so on.

Now go out and start collecting. Good luck and much success in your art buying.

Ensure That You Buy Authentic Art Under the Guidance of a Reputed Art Lawyer

December 25th, 2009

  Everyone appreciates a beautiful object, irrespective of whether he understands art or not. An art connoisseur, on the other hand, will have the knack of appreciating beauty in its minutest form. The artists of the past are still held in reverence by the whole world and even modern art of today has created a special niche for itself in the mind and heart of an art lover. Buying such art work and masterpieces, is a passion for an art collector and even a wise investment, if you have the eye to judge an authentic piece of art. Many art museums around the world thrive on this appreciation and reverence of the audience and if you too have a fondness and great taste in art, then buying paintings might prove to be a fruitful hobby and wise investment. However, the transactions of buying and selling art pieces, like any other business sector, leave a lot of scope for fraudulent deals and one must be careful about his investments. Hence, an art lawyer can become a crucial aid and necessity for anybody interested in dealing in such art. Before purchasing a work of art from a gallery or a dealer, you must be sure about the authenticity and value of the product. At times, even your knowledge of art may not be sufficient to save you from being cheated by a dubious art dealer. It is, therefore, immensely helpful for you, if you can depend on the professional expertise and judgment of an art lawyer. Such a professional will not only have a trained eye for distinguishing between the genuine and the fraud, but he will also be knowledgeable about the accurate price of an artwork in the market. The guidance and knowledge of an art lawyer can thus, help you in making the right selection and paying the justified price for any piece of art that you add to your collection. An art lawyer can also be a necessary aid for the seller of art and not just the buyer. In many instances we find that an art dealer may have sold an expensive piece of artwork to a buyer but did not receive the payment of either part value or complete value of the product. The lawyer can then come to the aid of the dealer and ensure that the payment is received in full by him by using the support of law and legal solutions. So, whether you are an art collector, who enjoys adding new pieces of art to his collection or whether you are an art dealer, an art lawyer can be an important ally, under any circumstances. Whenever making an investment in an art deal, ensure that the transaction terms and clauses have been reviewed by a lawyer and that you have taken his advice before the purchase or sale of any artwork. Such minor details can come in handy whenever you are conducting a deal and can go a long way in ensuring that you are never duped when dealing in art.