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Building an Art Collection
A Guide for Beginners
by Michael Trant, for Fine Art Registry™
In recent years, investors have been supplementing lukewarm cash returns by putting their money into land, property, fine automobiles, and art. New demands for authenticity and provenance in the art world have emerged, and the Fine Art Registry™ has responded with a patented solution. We truly live in an age of art as investment.
As a result, it has become more difficult for the emerging art collector to know where to begin. Here are six suggestions that will help to build a solid foundation while avoiding the pitfalls commonly associated with investment art.
Originals
Collect only original, one-of-a-kind works. Original paintings have greater depth and detail than reproductions. Subtle variations occur when they are viewed from differing angles or distances. Changing light can also affect the richness of the experience. By definition, no two are alike. But most importantly, original paintings retain the passion of the artist. If you stand before an original Jackson Pollock in a museum, you can actually feel his energy. Each canvas has a soul that can only be appreciated in person.
From an investment standpoint, an original painting from a little known artist may not be as valuable as a reproduction from a well known artist, but do not fall into that trap. New collectors will typically start with reproductions, only to replace them later with originals. Although there is no right or wrong way to collect art, why not skip that step altogether.
Collect Living Artists
Collect art by artists who are still alive, and, if possible, purchase directly from their studio. Get as much paperwork as you can, including sales information and a certificate of authenticity. Even take pictures receiving the painting from the artist if possible. If they currently use FAR tags, be sure to register your new ownership. If they do not, suggest they start. It is easier to prove authenticity when paintings were purchased from living artists with solid backup.
Works by these artists also tend to be more affordable, which means greater appreciation should the artist become more successful. But there is another reason for collecting art from living artists. You become part of the experience as it unfolds. Collectors are able to follow the evolution of the artist as it relates to their own piece. Some artists will hit, and some will miss, but there will always be vibrant and fresh art in the collection.
There are a multitude of places to find original art by living artists. Many artists have their own websites. Other options include online auctions sites, art fairs, and local galleries. An excellent place to start is the the Fine Art Registry database of artists and their work.
Harmonious Collection
When buying art, always be conscious of the collection as a whole. Each piece should fit within the group. Use common elements such as style, theme, color, or rhythm to link the paintings together. Or simply use your own tastes and instincts. But be subtle. The goal is to create a cohesive collection of unique works. For many collectors, maintaining this harmony is one of the great joys of building an art collection.
Variety of Medium
Once harmony has been established, diversify. Collect works of differing sizes, shapes, and types. Look for acrylics, watercolors, and oils on a variety of surfaces including canvas, paper, and wood. Compliment paintings with sculptural, mixed media, or installation pieces. Not only will this educate you on the various types of media, but the collection itself becomes more exciting.
Additionally, intersperse non-art items, such as personal photographs or travel mementos into the collection. This adds warmth and confidence.
The Three Anchors
Each collection should have three anchor pieces. There should be a work from a well known artist, an emerging artist, and an unknown artist.
The known artist piece will likely be the most expensive item in the collection and will bring legitimacy to your other choices. Do extensive homework before making this purchase.
The second piece should be from an emerging artist, someone who has already begun to develop a body of work but has yet to "make it big" in the art world.
And lastly, if you absolutely love the work of an unknown artist, be the one who spreads the word! Have confidence in your passion for their work and talk about them when showing your collection. Every successful artist started with a single fan who believed in them.
Wow!
Only buy art that truly moves you. Too many collectors have been temped by "the great deal" or investment opportunities. If you do not love the piece, do not buy it!
If you follow these steps, you will have a solid foundation that can be modified as your knowledge of art grows. Regardless of any investment potential, your collection will have a passion unlike any other. Your passion. Enjoy the journey!
— by Michael Trant
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May 7, 2008
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The views and opinions of individual authors/contributors expressed on the FAR® web site do not necessarily state or reflect those views and/or opinions of Fine Art Registry™ or its agents or subsidiaries.
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