Building a solid art collection takes time and expertise, regardless of whether you want to buy art for décor, as an investment, or out of love and enthusiasm for the arts.
This article gives the basic and important advice on what, why, and how to collect art in this beginner’s guide if you are considering establishing an art collection but are unclear of where to begin. The art industry may seem scary and difficult to enter at first glance, but we want to reassure you that this is far from the case. The art world is a fantastic place to discover new artists and learn more about their various artistic approaches. All it takes is an open mind and a little bit of curiosity, whether your goal is to purchase your first significant piece of art or merely to improve your experience at a fair or gallery opening.
Why should you be a modern art collector?
There are several justifications for beginning an art collection. People may begin to collect for a variety of reasons, including investing, acquiring priceless artifacts from the past, and supporting the arts, to name a few. Although collecting art is a highly personal experience, it is also a fantastic method to highlight elements of your personality and declare who you are.
Give up any preconceived ideas you may have about art collecting; it is not only a hobby for the rich and famous. Today, a lot of novice art buyers actually begin with a modest budget as they grow to know and understand the art industry. Herbert and Dorothy Vogel are the best possible example. This couple accumulated a collection of more than 4,782 pieces while working as civil employees in New York City, earning them the moniker “proletarian art collectors.”
One of the most significant post-1960s art collections in the United States has been described as their collection, which consists mostly of minimalist and conceptual art. They only purchased works they personally liked and could transport home on the subway or in a taxi, and they displayed and stored their collection in their rent-controlled one-bedroom apartment on Manhattan’s Upper East Side. This truly set them apart from what most may consider the stereotypical art collector.
What You Should Know to Start
Create a Budget The first step for beginning art collectors is to create a budget before they even begin to seek for pieces to acquire. You may choose what is available to purchase and were based on this budget. Begin with a modest budget and gradually build it up as your collection, self-assurance, and appreciation of art expand. A budget of $1,000 or less could be a decent place to start, however your specific needs may differ depending on your income.
Think about your shopping habits. Do you plan to purchase a single $1,000 unique piece of art each month or a number of cheaper pieces? Since your budget is not a set indication and will fluctuate over time, it is a smart guideline to abide by to choose quality over quantity.
Set Specific Goals
What goals do you have for this art collection? The kind of collection you wind up assembling will be greatly influenced by how you define your reasons for purchasing art. Buying what makes you happy and what you love is a wise strategy. It is preferable to spend money on art that will inspire you every day since you will have to live with it.
Budgeting is crucial, but that doesn’t mean you have to settle for something you don’t like. Nevertheless, don’t discount a piece of art just because it is priced below what you consider to be the going rate for “excellent art.” Buy the piece of art if you truly appreciate it, whether it costs $50 or $500. The job may not always be better if it is more costly.
Understand why you collect modern art
Many collectors get their start for purely aesthetic reasons, such to spice up their living space. There is no denying that art can change a room and provide lovely décor, but what happens when a collection outgrows its home? Art collectors must consider logistics, installation, insurance, storage, and conservation as their collections become larger. Always have a couple trustworthy businesses in mind as a backup.
Many individuals consider art purchases to be investments. Even if it is a well-considered approach, it’s crucial for prospective purchasers to realize that investing in art comes with no promises. If your main motivation for collecting art is to get a return on your investment, you must look at mid-career or established artists, which implies more costly pieces.
Do your homework
It’s time to perform some research now that you have determined your objectives and budget. Do some study and totally immerse yourself in the art world to make sure you have a good time acquiring art.
Learn about the many forms, media, and styles of artwork; read about the artists; visit galleries and museums; or search for your favorite pieces on social media (Instagram, Facebook, Pinterest, etc.). You will begin to recognize the differences between the many methods, media, and styles used by diverse artists as you see more art. Most importantly, you’ll develop the ability to recognize the kinds of work that you like and appreciate more than others.
Final words
We recognize that purchasing your first piece of art may be challenging, particularly if you are unsure of what to purchase, where to acquire it, or how to do it while staying within your spending limit. There are numerous ways to establish an amazing art collection without going broke while still having a rich, fulfilling experience, whether you’re seeking for a modern statement piece or want to invest in art for your home. Continue reading to learn how to put together an art collection you’ll enjoy and be proud of thanks to this article.
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