Starting out as an art collector, it may look like daunting task ahead of you. You find those people who have seen success in the art market, and you wonder,"How do I ever attain that amount?" Do not forget that all recognized collectors needed to start somewhere! The first secret to investing is starting, the rest follow studying, preparing, and growing your own abilities in the art market.
Collecting art is a thrilling experience -- one full of beauty, the delight of a good find, and the success of a lucrative sale. But breaking in may be difficult. Even though the art world may appear cold and uninviting, all you will need is a little advice.
The purpose of this write up is to make discovering the mastering the art market, less of a daunting task. Also to supply you with tools that you want to put out on your trip as your grasp more knowledge and information about the art market. When you have questions regarding how when to make your first purchase, stick to these two critical points.
One, make sure you enjoy the piece your buying, this assists with seeing the value in the artwork you're purchasing. Second, do an in-depth research on the artist you're buying from, where is this artist at in their career. For a guide on this, check out our other guide.
Where to Start Collecting Art
Following with my point made earlier, collecting art starts with knowing what type of artwork you enjoy. Whenever you aren't putting down any cash, it appears really simple to say whether something appears great or not -- but as soon as you're searching to purchase, it will get far harder.
Admiring art or receiving it is one thing, purchasing on the other hand is a decision you should take seriously. You're buying artwork that may be in your life for decades, this artwork make be displayed in your home for years to come.
Life is too short to waste money and time on the job which you believe others enjoy or will turn a profit in the future. The reality is, the shrewdest, best educated art collectors can not forecast what's going to make huge returns 100 percent of their time. And as you'll be investing money in these bits, you need to appreciate them while they hang on your own wall.
Fortunately, educating yourself about the art world is among the greatest parts of being a collector -- so within that journey you have to check out a great deal of artwork. I have many artist I enjoy, but currently I'm most drawn to contemporary Canadian artist Fucci. His artwork is also currently very affordable.
Untitled - Fucci
You know which type of art you enjoy, you've scooped out a few artists in the market. Educating yourself on their profile, exhibitions, and auction sales. It's now time to set a budget for yourself to purchase some artwork! Everyone will answer this differently, depending on their finances and how much research they've done on the art market.
For those looking to start out with a mid-tier budget, I'd suggest purchasing artwork around $100 - 300 USD from an established artist. I'd also suggest purchasing storage for your artwork before a frame. Frames can be quite costly and avoiding this step gives you time to decide whether you'd like to display the artwork or not for the time being.
Invest in Artwork at Same Time
Now that you know what you like and you've made a budget for yourself; it's time to look for artist you see growth value in regards to their artwork. Instagram makes subsequent artists simple. Using just a tiny bit of tapping and scrolling, you will have your finger on the heartbeat of your favourite corner of the art world.
Many artists are now selling straight through Instagram and advertisements where you could locate and buy their work. Purchasing from the artist will nearly always get one of the cheapest cost possible. There are deals out there, frequently located at charity auctions or in auction homes not located in Miami, N.Y.C. or even L.A.
Jack and Jill (Police Kids) - Banksy
Here's an extensive list on where to Buy Artwork. Though keep in mind whether you're are purchasing art for the strict enjoyment or both for the enjoyment as well as the investment. I have purchased artwork for strict enjoyment, cheap artwork from local artists. But I have to say, my collection primarily consists of reputable established artists.
Enjoying a piece of artwork as well as watching the price of it go up over the years bring great joy to me. Excuse me while I sound like a capitalist as I write share my love for art. Everyone enjoys art in many different ways, for me .. I love to look at the artwork I own, the appreciation in its price is a bonus.
Reddit User: tomjohn70, shared a calculation of various percentage returns for some of the most famous contemporary artists today. Visit our subreddit InvestingArt for more insight and discussion on Investing in Art
|Artist||Average Price Increase per Piece in %|
Beautify Your Space with Art
When buying art, understand your needs .. remember that your artwork most likely stay in your home or office. Keep in mind the places you’ll put the work: above the staircase landing, by your desk, or in the kitchen. Note the dimensions of the space and colors of the room.
What else do you think millionaires/billionaires hang up in their penthouses and mansions? Fine artwork of course! No one likes a space with completely empty walls. Artwork gives your space a unique feel, character and allows you to express yourself to others when they visit you without out having to say a word.
An art collectible hobby will keep you interested in life and give you a home filled with art masterpieces as well. If you enjoy pretty and interesting things around you, consider starting an art collectible hobby today. At some point, your collection will get extensive and you wont be able to frame/display all the artwork you own.
This is a great time to invest into some type of safe storage for your artwork. In order to protect it from dust, sunlight and other possible damage your artwork may occur when not storing it correctly. We've put an extensive guide together on artwork storage in order for you to play it safe.
This is NOT Investing or Financial advice, we're sharing our opinions respectfully from a speculative point of view.