“I am an art collector,” sounds so impressive and significant, right? Many appreciators of art strive to become art collectors for a variety of reasons – to compile their own set of items they love, to invest money in the long run, or to look credible in their society. Whatever the reason, becoming an art collector (a successful one) is not as easy as it might seem, and newbies should beware some common errors that many novice collectors make. Learn on others’ mistakes, don’t waste money and nerves by committing your own. Here’s a quick review of top expert tips for art collectors from Fine Art Shippers, an experienced art shipping and art consultation company.
Set a Clear Direction
Obviously, having an eclectic art collection may be trendy, but such a fragmented set of artworks will never become greater than the sum of its parts, for which great art collections are famous. So, it is recommended that you choose one specific style, school, or artist, and stick with it. Obviously, limiting yourself too much may doom your collecting initiative to a failure – many rare, exquisite masterpieces are in private collections of people reluctant to part with them. However, choosing a certain school and location (for instance, Italian modern art) can give your collection a focus.
Novice art collectors can buy a painting for $10,000. Or buy it for $5,000. Or even for $50,000. It all depends on the dealer with whom you work. Artworks are subjects of intangible, subjective value, so knowing the market prices and dynamics is critical to strike a good deal for the artwork you wish to obtain.
Plan the Entire Process
Buying an artwork is not as easy as buying a sandwich, which you should consider before you embark on the task. Art purchases usually have associated costs for art collectors, such as insurance, shipping, installation of the artwork at your residence, proper storage conditions, and the like. Don’t forget to include all these procedures into your budget for a new item; otherwise, your new art collection may transform into a drain of resources from a lucrative long-term investment.
Overall, collecting art is a very interesting and rewarding experience if you keep to these recommendations and act prudently. Go ahead to create your incredible collection!