What to buy and why: The best advice to build an art collection

October 19, 2022
Art Collection Management

Collecting art is more than just owning an object. It is a way to see the world in a more creative and diverse way. But art collections can also be challenging and overwhelming as a wrong decision can either cost you a fortune or make you get a piece you may not want to own.

Building an art collection is an opportunity not only to invest your money into something that can offer you a significant payback but also a beautiful way to be surrounded by joy every day. So, get ready to start using these pieces of advice and create a valuable collection you will love.

1) Learn how to choose art

Learning how to choose art will give you the confidence to create a unique display. To begin with, it’s important to note that buying art and collecting art are different things.

Buying art is an activity based on preferences or attractions while collecting art is deeper as it requires a purposeful long-term commitment. So, if your goal is to collect art the right way, you have to master two skills. First, you need to research, evaluate and decide whether or not to buy any works of art that attract you. Second, it’s being able to select each individual piece in such a way as to form a significant and unique grouping or collection.

2) Formulate a plan

Most people get intimidated when buying art and have difficulty making choices. That’s why it’s crucial to have a plan when thinking of making multiple acquisitions over time.

How do you decide where to focus? How to relate one purchase to the next? How do you organize your art together? Having a scheme will help you have controlled, purposeful buying, which is what collections are all about. A professional art collector can advise and help you plan out for personal, business, or private collections.

3) Define your goals and budget

Another essential point when collecting art is knowing your goals and intentions of having it. For example, are you building a collection for aesthetic reasons or as an investment? This will have a significant impact on the kind of art you buy. It’s imperative to consider things such as logistics, insurance, installation, storage, and conservation of the artworks.

Defining and sticking to your budget is also essential, but it doesn’t mean limiting or settling for something you don’t like. When it comes to prices, don’t devalue an artwork just because it is priced below your perceived price of “valuable art.”

4) Finding art that matters to you

When starting, be open and think about what you find visually, intellectually, and emotionally appealing. Collecting art is highly personal; therefore, a good approach is to buy what brings you joy. Try to avoid following trends or focusing only on the latest top-selling artists.

5) Where to find or buy art

You can find art for collections just about anywhere. A good place to start is with start-up galleries and open studio events. Nowadays, you can also find pieces on online platforms.

These platforms can be a fantastic entry point for new collectors, but don’t provide the guidance of an art advisor. Always make an effort to see each potential piece of art in person if you found it online. Auctions are also a great source to find art. Make sure to attend some art auctions before you intend to make a bid on a piece.

6) Consider an art appraiser

Starting a collection doesn’t need to be overwhelming or anxiety-inducing. Having an art appraiser to help and guide you on this journey will be indispensable.

They can do great things for your collection as appraisers know the actual value of any piece before investing a penny or a million dollars in it. In addition, a professional art appraiser will bring their industry knowledge and experience to the table. They can also help you check that the paperwork, provenance, and more of an artwork or piece is immaculate.

Beginning to build your art collection can be an intimidating process. Whether serious or recreational, this advice can help you maximize the quality and value of your art collection, as well as your enjoyment of that art. Keep in mind that having an ally such as an art appraiser in this process is essential to ensure that you’ll be confident and properly informed when acquiring art.