What New Collectors Should Know

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Art collecting can be called an art onto itself, and I must say there’s no perfect way to buy art! Art is a personal thing and you should always Palm Bay Opossum Removal buy what you fall in love with or what excites you. Yes, there are many styles, titles, trends and a few artwork goes up quicker than others. Art can be quite trendy and people may be talking about this artist over that one. But somewhere between fine wine and investments is where you can discover fine art.

The fundamentals of art as an investment is that you buy a piece of art that you’re passionate about and in time the artist, gallery, or art house begin selling that artist’s artwork for more than what you paid for this. Voila! At this point you have equity in your piece of art, keeping in mind there are a number of variables to how fast the equity grows and demand for that particular artist. A friend of mine sometimes uses her collection as money, trading artworks for other things she needs. She has used this method to buy cars, pay bills and dinner. The real value in art is finding other people that are as passionate about that artist as you are. Corporations, museums and travel trailers lease these kinds of artworks all the time which provide income for the owners. But If you want a guarantee on your art buying… then I suggest you buy art for love, you’ll always get your value from it.

Do Your Research

Spend some time learning about the artwork and the artist because trends and fame can both be misleading. Whenever possible, buy art in person and even better match with the artist. Ask them about the series if it is in one, ask what’s the size of it and if they plan on continuing the sequence. Sooner or later, you may plan to buy another art and it would be useful to know if there will be more in that style. In case you have the pleasure of talking to the artist, try to learn if they do art fulltime, where they will be showing next and what projects are coming up next. A lot of artists do studio earnings, that help control their inventory, purchase one-off pieces, and earn them extra income. Knowing when these artists are having their studio earnings can normally save you a lot of money, plus you get to hang-out in the studio. Research can be a collector’s best friend.

Collect using a Focus

This is a difficult one for new collectors because they have not set any parameters yet. You do not have to limit yourself to just 1 type of work. Concentrate on a style or a couple of styles, this will truly help you build a fantastic collection. This type of collecting helps to make it easier for identifying the kinds of works you want to purchase.

Proper Title Transfer

Any reputable art dealer or gallery should provide you with things like the provenance, condition, artist information with touch, history and edition numbers.

Documentation Is King

As a collector, you need to have all of the documentation for your own collection. Because anyone that must evaluate your collection has to have a very thorough understanding of all of the pieces. From your very first artwork you buy, start a list of all of the works, descriptions, invoices of sale costs, the purchase dates, and following appraisal rates. It’s a good practice and will save you so many headaches in the future.

Among the simplest ways to learn more about an artwork or an artist is to ask questions, have fun and happy collecting.

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