4 Tips on Collecting Contemporary Art

The reasons for buying art are many. You could be a buyer looking to decorate a home and be surrounded by beautiful works. A second or third generation collector maintaining a family legacy. A professional or entrepreneur looking for an investment opportunity. Someone interested in collecting art or a combination of the above. Whatever your incentives, there is no denying that art is exquisite, yet complex.

We have distilled the 4 most useful tips for the burgeoning collector that we hope will inspire you!

  1. Go after what you love

Collecting art is about appealing to the heart as much as the head! Collectors starting out should know that it is important to choose art that they get aesthetic pleasure from. They should not follow fashion and should not regard art solely as an investment piece. Be sure to buy something you love and want to live with! A good collection should always reflect your personal taste; pieces that you connected with.

  1. Do your research

Start by exploring, visit museums, galleries, art fairs and auctions to understand what style you like and define your taste. Research is also essential, and it is important to read up as much as you can about the artists that you are interested in as well as review their exhibitions history and sales track record. Moreover, looking at a great range of art and looking closely enough to understand the works is important. This way you educate yourself and ‘train your eye’ to attain a good instinct in identifying things like when an emerging artist or art movement is in demand. The more you look at art, the more fluent you become in responding to it.

 

  1. Ask expert advice

Seeking expert advice is always helpful and can be done from several outlets including art consultants, gallerists or auction house specialists. These individuals have a wealth of knowledge about art and leverage this knowledge for their clients’ benefit. Art specialists offer invaluable advice from evaluating works of art, to providing in-depth investigation of the artist and where the piece of work falls within his oeuvre, to offering price guidance.

  1. Ensure the work is authentic

It is very important to buy the artwork from a reputable source and vital to ask for a certificate of authenticity.  A valid COA in art comprises of specific details about an artwork like the full, exact title of the piece, the date of completion, the medium and the dimensions. Furthermore, the authors of certificates should be traced easily at any moment, preferably by their location and websites, in case a necessity for that arise. This information not only prove the authenticity of the work, but also increase value, and give collectible significance to the piece through the story it tells.

By |2019-03-15T09:24:14+00:00March 15th, 2019|Art & Design, Culture|

About the Author:

Elena Ioannidou is the founder and director of The Edit Gallery in Limassol, Cyprus. She is an art consultant and advisor specializing in modern and contemporary art. After completing her studies in History of Art and Design, Elena received her MA degree in Art Business from Sotheby’s Institute of Art in London. She has then proceeded to work in acclaimed art galleries in both London and Cyprus. Her notable work experience coupled with her studies, have allowed Elena to further her knowledge of the art market and its multifaceted segments, including but not limited to, auction houses, gallery businesses and art collecting and investing. She is also the co-founder of ‘Arteries Foundation’, a non-profit institution for the promotion of contemporary culture through art and artistic expression.

What do you think?