Most people assume that fine art collection is about purchasing artwork at an affordable price and selling the pieces at a high price. While this is vaguely true, the price of the artwork is a function of many factors, some of which art collectors manipulate in their favor. For example, showcasing artwork in prominent museums and galleries increases the price automatically. Also, the artist’s professional qualifications are reflected in an artwork’s price. Research shows students studying art are three times more likely to be awarded for school attendance and four times more likely to be recognized for academic achievement. Art is important, and the beauty of it is that its value isn’t fixed, it increases over time. Here is how a certified decorative art appraiser can manipulate some factors to maintain and increase the value of an artwork.
Record the Art’s Provenance
Authenticating provenance has a direct correlation with the value of an artwork, especially if the artist is deceased. Having a record showing previous owners and their whereabouts is the first step to confirming its origins and artist. Art appraisers use such documentation to confirm if the artwork is genuine and to determine its value. Be sure to keep a digital record of such history when collecting the pieces.
Also, make an effort to learn about art. If the artist is still alive, take advantage of the opportunity to learn the intention and emotion behind each piece they create. If deceased, follow up on their history with gallery owners and certified decorative art appraisers who are familiar with the work. Providing all such details when selling artwork helps increase its value.
Help Young Artists’ Brands to Grow
Many art collectors invest in promising young artists with expectations to grow to stardom in a few years. The collectors work with the artists to increase the value of their artwork and help build their brand. Charles Saatchi is an excellent example of an art collector who has shaped the careers of many young art students. Without his patronage, the world wouldn’t know artists like Tracy Emin, Sara Lucas, and Damien Hirst among other members of the Young British Artists.
Document Your Collection’s Evolution
A certified decorative art appraiser who appraises specific pieces of artwork may want to understand your fascination with such a collection. For example, the first piece that stirred your interest in Neolithic Ceramics has a history as you buy more. Detailing such information gives your artwork the personality and detail it needs to increase the collection’s value. Apart from reducing its value, failing to document the history of a piece of art compromises its significance.
Showcasing Artwork in Renowned Art Institutions
Art collectors eager to increase the value of their pieces lend their collections to museums. It explains why museums sometimes showcase private collections exclusively. They may also borrow individual pieces from art institutions to display in a certain exhibition.
Having art collections featured in famous museums like Metropolitan, MOMA, and galleries like the Gagosian increases their value significantly. It proves to other collectors that experts value your artwork and that it plays a critical role in art history. That’s why fine art for sale in prestigious auction houses has a list of major exhibitions where it has been displayed.
Invest in an Artist’s Professional Development
Many art collectors invest large sums of money in young artists’ professional development to raise the value of their art. Renowned art collectors like Anita Zabludowicz set up art residences for upcoming artists in Finland. Emerging and mid-career artists come here to experiment and hone their skills while getting inspired by the surrounding idyllic wonderland.
As a result, the artists produce more interesting pieces that a certified decorative art appraiser values much higher. Therefore, investing in an artist’s professional development is pivotal to determining the value of their artwork. An art appraiser near me will also look at the number of residences the artist has attended, exhibition history, sales records, and if they have an art degree from a reputable college.
The beauty of artwork is that its value is progressive. Knowing how to maintain and increase an artwork’s value is critical to determining its highest value when a certified decorative art appraiser appraises it.