By Laura Berelstone
Art has always been perceived as something for the rich and the famous. While great art can be very expensive, it doesn’t necessarily have to be a forte of the rich. Art collection is an art in itself and needs a keen eye and a lot of patience and perseverance. Art can be a great investment and it’s not necessarily a recreational expense. For a lot of outsiders, the art world comes across as slightly intimidating. But that’s not true. It’s all about having a sense of aesthetic and making some connections.
These days, almost every establishment invests in art. Even casinos are known for art collection as can be understood from this article about the top five casino art collections. If you have been thinking about collecting and investing in art, it’s time to dive right in. But before you do that, let us help you with a few tricks of the trade.
Time is your friend
Remember never to jump into deals. Take your time to understand the piece and do some background research. Start visiting charity auctions and smaller galleries and speaking to artists themselves.
Don’t buy to sell
Buying art is a bit like buying stock. You should only buy what you believe in. The art should be something you’ll be proud of and will probably adorn your walls. When the time comes to sell it, it will have risen in price which would make it one of the greatest investments you’d ever made.
Check out art fairs
Art fairs are great places to start making connections and also get a sense of what is happening in the art world. A lot of galleries present their works in these fairs so it’s a good place to begin your discovery.
Visit galleries and auctions
Even if you can’t afford to buy from a gallery, as a prospective art collector you should start visiting galleries as often as possible. Most galleries only showcase the most expensive works on their walls but if you start digging you will find cheaper and more affordable works from the same artist do exist. Start meeting artists and maybe you could even start commissioning work. You could also start visiting auctions to get an idea of what kind of art sells these days. You could even be witness to a Banksy event like the time his painting got sold and immediately self-shredded.