Page 11
The Ultimate Guide To Starting An Art Collection
Words Shemaiah Gold
How do you start your own art collection without spending millions or getting it horribly wrong? Many people have avoided the topic of buying art because when we hear about art sales such as Beeple's $69 million dollar NFT, it can be daunting and seem as though it is only accessible to a particular group; those that appear to be more affluent. However, the truth is, art is available to anyone, you just have to know where to look and how to start, says Art Editor Shemaiah Gold.
There are a variety of beautiful, thought provoking and contemporary pieces that are waiting for the right home to live in and I find it shocking that art collecting isn't something more people look into. With the right guidance, art collecting can be one of the most rewarding ways to invest your capital, though I don't believe this should be the reason to start.
Some would question the need for art, as well as some who can't resist the urge to buy. A good example of the ultimate art addict/collector would be Peggy Guggenheim who started by supporting and investing in the art of modern artists who stated in BBC's documentary on the 'life of Peggy Guggenheim: Art Addict', "I put myself on a regime to buy one picture a day".
Where to start
Define your motivation or goals for buying art and it will have a huge impact on the kind of collection you end up building. You can start with a smaller budget and opting for what inspires you.You will have to live with the art you purchase, so it is better to invest in something that will keep you inspired every day.
What to buy
Before you even start looking for works to collect, the first step for new art collectors is to establish a budget. This budget will allow you to decide what is available for you to buy and where. Start small and gradual, increase your budget as you grow your collection, confidence, and understanding of art. A budget of £1,000 or less could be a good starting point but this could vary depending upon your income.
Many collectors start collecting for aesthetic reasons, for example, to enliven their living room. Art can no doubt transform a space and create beautiful interiors, but what happens when their collection outgrows their space? As art collections grow bigger, art collectors need to think about the logistics, installation, insurance, storage and conservation of their works.
Do your research!
After setting your budget and defining your goals, it’s time to do some homework. To ensure that you have an enjoyable experience collecting art, immerse yourself fully in the art world and do some research through art platforms such as 'Artnet' where you can find the latest news and upcoming artists.
Browsing online
The art world has changed dramatically and Artists now have their own websites and Instagram accounts, meaning they can easily reach audiences without the aid of a gallery. Websites such as 'Artsy' are platforms that feature a variety of modern art so spend some time 'browsing' online to taste and familiarise yourself with your own art palette.
Visiting art fairs & galleries
Having a larger budget means you could explore the option of buying from bluechip artists rather than someone upcoming. Visiting galleries is the perfect opportunity to view works by blue chip artists exhibiting and you may even get the chance to meet them personally. Not only do many collectors own the art work, but they can be inclined to buy based on the relationship they form with the artist. Although this may be the more 'old- fashioned' method of art collecting, it still remains the most authentic and informative. Art fairs such as Frieze and London Art Fair give you a wide selection of artists to choose from so for someone lacking inspiration, this is the best way to expand your mind to all the possibilities of what your collection could be.