Beginner’s Guide to Collecting Art For Fun and Profit

If you are an art lover, then collecting art is a natural inclination.  Having your favorite artwork nearby is inspiring.  But collecting art can be expensive.  With the expense in mind there is the possibility that you can find art that you love for a price that you can afford and it might even increase in value.

When it comes to collecting art the major consideration is whether you like the piece well enough to buy it.  Secondarily, can you afford or profit from a given work of art?  Those two groups of artworks can overlap.  You just need the knowledge and discipline to find the kind of art that satisfies both criteria.  So this article will offer you some knowledge that you can apply in satisfying both criteria.   Any successful art collector has used knowledge to find each piece of art in his/her collection. Here are some practical rules you can use.

1. Make a budget for buying art that does not challenge you financially.  You don’t need to add stress to your life to enjoy art.

2. Try to buy original works as opposed to multiples like prints or sculpture casting editions.  Originals have a greater possibility of increasing in value over time.

3. Do not buy art that you are not sure that you like.  Be patient and locate art that you are positive about.  There is little sense in feeling disappointed if you don’t grow to appreciate a piece that you didn’t feel strongly about.

4. Learn about the artist who has created the works you can appreciate.  Collect information about the artist’s work, his life, education, commitment to creating on a continuing basis, willingness to show his work at the highest levels available, degree of sophistication within his/her own type of art.  These efforts are indicators of an artist’s ability to become recognized in his/her work.

5. Realize that you do not necessarily have to pay the stated price.  You should be willing to negotiate with the artist or the dealer of the artist’s works.  Many sales are made at levels approaching 80%, and some as low as 50%.  Artists have been know to barter, accept services or goods in exchange for their work, as well.

6. Make sure that you understand how any purchase that you make must be maintained.  Is the art stable and solid, or does it need special support or display under glass?  Can it be handled easily for cleaning, or is so fragile that it could break?  Find out the permanence of the materials used, especially surface materials like paint or patina.  Realize that many works could support growth of mold, react chemically to some substances, or react poorly to sunlight or even low levels of artificial light.  You want as much stability, strength and permanence in artworks as possible.

7.  You can always consult experts before you buy a work of art.  There are professional appraisers available to authenticate work.  You can also ask other artists, an underutilized wealth of expertise as to the general qualities of  another artist’s works.  You can ask several people to examine a particular work to answer these questions.

Following these simple guidelines can make selection of original paintings, sculpture and other artworks a rewarding experience and a valuable pastime.

- Dan Ferris

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