5 Art Collecting Tips
Collecting is a ubiquitous human activity. An example of this is when ancient man collected firewood out of necessity. As the human brain grew so did the depth and breadth of our interests. During the 16th century, wealthy Europeans would display a love of the marvelous within their cabinets of curiosities. Miniature portraits, small sculptures, minerals, animal hides, plant examples, and Italian chiaroscuro woodcuts could all be found hanging from inner panels or hidden in small drawers.
The concept of “collecting” enables and encourages us to learn deeply about specific subjects. For many, a greater satisfaction is garnered from the pursuit of knowledge and the “hunt” for the object rather than the ownership of it. After all, is a collection ever complete? Think about it. When the dream vintage Rolex is acquired the horologist starts wanting a Blanc Pain. On a lifelong hunt for a 67 Corvette? When that dream finally comes to fruition, isn’t it time to build another garage for a vintage Aston Martin? For art collectors, it’s no different, the hunt never ends. Paintings are rotated, new finds are given pride of place and the guest house becomes your own curated private gallery that you can show off to friends, family and business associates.
While rules of any kind should never apply to how and why one collects art, some common themes on the subject of art collecting may help provide some additional insight:
Number 1: Research, Research and More Research
Read, peruse, ask and question. Start looking online, engage with dealers, galleries, museums, other collectors and of course artists. Attend art events and go to as many as you find interesting. If the event concept captivates you, do not miss it, even if it means you only attend digitally or that you just request access to view the collection of art being offered. Check out museums, galleries, and other local and international events. Pay close attention to what they focus on and why. Educate yourself on what you like and find artists that are masterful in that specialty. Find a dealer you can trust, one that focuses on transparency and is willing to do the research for you. Build on this relationship and ask them tough questions. Be honest about what you want to learn more about and what you might look for in an artist and it’s ok to ask for their opinions. Most galleries do not want to create an intimidating atmosphere, however, a lack of price transparency and limited available information can make even the toughest oligarch feel as though his reading glasses aren’t quirky enough and his pockets aren’t deep enough to be welcome. If you don’t feel welcome, avoid the whole experience. Try working with someone else or explore alternative options. It’s important to remember your embarking on this experience for pleasure, not to feel judged or to be intimidated. You should always feel comfortable asking questions that ultimately make you a more astute collector. Work with and collect artists that welcome you and are enthused to share their knowledge.
As the collector, it’s important to remember that you hold all the aces. It’s your time to explore genres and hyper-focus your attention on what feels authentic and interesting. Build your collection over time. Utilize your research, trust your ever-evolving tastes, and take full advantage of a handful of trusted advisors who are willing to help you navigate the information and present you with unique opportunities.
Number 2: Plan to Collect
Collecting is addictive and budgets are for breaking. If you find a work of art that speaks your language and is not going to hurt you financially, go for it!
In all my years as a dealer, if I had a dollar for every time a collector told me about the art they didn’t buy and regret not collecting, I would never have to work again. To this day I cannot recall a collector who said “I wish I didn’t buy that work of art that spoke to me.” Try not to live with “art regret.” Please remember it’s always easier to buy something than it is to find something you may have lost forever. While it is always possible to make more money it may not always be possible to find something that is no longer available.
With that said, having a rough annual or even semi-annual art collecting budget is a smart move. Take advantage of interest-free options when available or offers from your dealer that help you extend your collecting dollar, permitting you know how to use them and not let them use you. Just like saving up for travel, financial investments, or even hobbies for that matter, planning to collect financially will put you in a great position when an opportunity to pounce on something special presents itself.
Number 3: If a work of art strikes a chord with you emotionally, collect it immediately!
Oftentimes when I ask art collectors what they may be looking for they tell me they buy what they like. It’s a curious moment for any dealer to hear this statement so regularly. Depending on the context, I’ve concluded that the translation ranges from “leave me alone” to “I refuse to articulate my taste” or “I collect what provides me with an emotional response and for that reason what I am looking for is deeper context so I can make my own informed decision.”
Either way, I appreciate the sentiment but I “dislike” the language. “Like” has become one of those words that gently asphyxiate the joy of the English language. Not only is it as banal as beige but it has also found a way to permeate our language so fastidiously that even professors on podcasts can’t help “like” getting “like” into a sentence at least “like” twice. So, let’s forget about “like” and ask ourselves these questions:
When I look at this work do I feel joy, tension, elation, relaxation, or curiosity?
Am I in front of something well-made that somehow resonates with me?
Does the work evoke a strong reaction?
How does the work of art “open up” to me?
If I spend a few minutes on my own with the artwork, how does my interpretation of the work change?
If I remove myself from viewing the artwork for just a moment, do I miss it and can I recall subtle details?
Do I sense an immediate message from the artist?
Am I looking at something fresh and unique?
If someone else acquires the work am I ok with losing it forever?
Going a little deeper will help you build a more personal collection. You will remember what you felt when you first saw the work and where you were when you discovered it. You may remember the conversation you had with a loved one while discussing where you might display the work. Perhaps collecting the artwork marks a unique milestone in your life. Maybe it just makes you happy and after all, isn’t that a good reason to collect a particular work of art?
Just like great music, art should take you to different places. Just like a glass of wine, it may taste differently depending on a variety of circumstances. Listen to the facts and most importantly listen to yourself. Go with the flow of your intuition. As mentioned above in number 2, “art regret” is not a positive emotion but trusting yourself to make the right decision always seems to pan out the best.
Number 4: Support the Artists & Dealers you Believe In
Getting involved is infectious and exciting. Supporting artists and watching their careers blossom first-hand is enjoyable in so many ways, especially when you are the early collector of a budding artist. It’s also important to support dealers that take good care of you, provide well-researched information, and go out of their way to tip you off on well-aligned artists and works of art they feel will add value to your collection. Try to remember they are doing this to build a trusting long-term relationship. Dealers and artists alike rely on your honest feedback to make meaningful improvements. Provide them with this knowledge on an ongoing basis so they can continue to create more meaningful art programs and invite you to exciting art events. These relationships are best synergistic, not only to help artists but to also help collectors attain the art collecting access and experiences they want. Not only are you developing relationships and discovering talent, but by default, you are also supporting the community in which the artist and dealer reside.
Number 5: Quality, Quality and More Quality
As Malcolm Gladwell states in his book, Outliers, “it takes 10,000 hours of intensive practice to achieve mastery of complex skills and materials.” As random as it may look, intentional strokes are the best way to create visual tension. When an artist such as Norman Ackroyd creates his aquatint etchings in the way in which he does so, it is likely the result of his unique ability to decipher hundreds of shades and tonalities that most could never see, not even with a magnifying glass. Time served in the studio creates an accumulated fluency that enables the artist to produce works that seem effortless. This level of quality is very distinctive. With that said, you do not need to be a master sommelier to appreciate a great bottle of wine but when it comes to art, always go for the highest quality.
While many underlying factors can determine this, high-quality prints or paintings by contemporary artists can be considered superior when compared to poor examples of a blue-chip master artist. Collect the painting or the unique artwork based on its merit and trust your cultural confidence. Quality also means ensuring the condition of the work is pristine and that it will be handled and framed respectfully. Make sure the artwork is authentic and that it can be traced back to the artist. With regards to investment, unless you’re willing to start selling works over a prolonged time period, and you have a crystal ball to tell you the future, true investment works are hard to predict.
In summary, building an art collection is an incredibly rewarding journey. You are going to love your artworks and you may not always be able to explain why. Your appreciation for the artists you have chosen to add to your collection will grow deeper and deeper over time. You will find an interest in supporting their missions as well as their individual growth. You will build great relationships with the dealers you work with, attending a variety of private events and sharing in a few glasses of wine and scrumptious hors d’oeuvres as you learn more and more about the inner workings of the art world.
They say we die twice, once when we stop breathing and once when somebody says your name for the last time. Build your collection with equal measures of introspection, spontaneity, and love, and allow your legacy to live on for generations to come.
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