Getting started in the world of art collecting is not an easy task, but if you are determined to try it, here are the 7 basic tips to help you create a wonderful art collection (courtesy of Galerie LeRoyer).
#1: Train and study
Visit museums, galleries, fairs and read specialized magazine. This will help you know the behavior and processes of the artists. If this is not possible due to lack of time, it is advisable to let you be advised by a good art advisor or collector’s advisor.
#2: Make sure the work you buy excites you
When choosing a work, the most important thing is that you like it and it inspires you since you will live with it and it will be part of your space.
#3: Define the style that interests you
Photography, engraving, painting, sculpture, etc. Find that discipline that transmits you more than others.
#4: Be clear about the budget
If you have a good advisor, the works you acquire today will be revalued over time, which will make your budget to continue completing your collection. It is important to know that investment in art is assured, given that it is a refuge value that if it fluctuates, it will always be upwards provided you have a good advisor.
#5: Previous research
A fundamental step will be to investigate the artists, their exhibitions and awards: It is good to know if the artists have works in public and private collections or if they are present in museums. If they are alive or have died. If the author has died, for example, you can opt to deduct 15% of the investments made in these cultural assets. This is a procedure that each collector must do directly with the Ministry of Culture. A specialized lawyer can help you in this process.
#6: Choose the space for your work
The work is best expressed if it is in a place suitable for it. Each work, depending on its character, demands one or another space, just as the space claims the works that fit in it. Choose the perfect space for your work. Most times, the space you choose adds more value to the work.
#7: Opt for graphic work of consolidated artists
Although they are not unique works, you can acquire a good work by a renowned artist for a good price. Keep in mind that the more editions and more copies the lower the price too. The works of emerging artists are a great option to have unique work in your collection but the ideal is to choose the right pop according to your personal tastes and the desire you have to multiply your investment.