Collecting 101: What to buy and when
While the art market has theoretically remained “hot” over the last few years, it is a place where money is both made and lost. Not everything always goes up in value and not every work by a leading artist will fetch high prices. There are several steps on can take to facilitate making quality and wise purchases when buying art.
Working with a professional and seasoned consultant is one of the first steps to take. Not only will the consultant advise you about upcoming exhibitions, art fairs and museum shows, in some cases he or she will have a relationship with an artist and can gain access to allow you to buy from the artist’s studio, or have the opportunity to be the first to see things with a dealer. An experienced and knowledgable consultant has spent years building relationships and is a valuable source of information on the ins and outs of collecting.
A collection is a personal thing. It is your own invention and doesn’t need to meet the approval of other people’s taste or opinions, or viewpoints. The pleasure in collecting includes not only the hunt for artworks, but its ownership and display. The art you purchase and collect will be cherished, meaning for you and bring you pleasure.
Will they all be good investments? The answer is yes and no. And the answer to that question also depends on what a good investment means to you. Is it about the quality of the work and the endless enjoyment in brings or the monetary value it attains? Tastes change, fashions change and artists go in and out of favor. Does this mean that if you love figurative painting and abstract painting is all the rage you should jump on the abstraction bandwagon? No. It means you have your own vision and your own opinion your own interests and like all things we know that are trends these trends are all subject to change and fluctuations of the times and the marketplace.