Conversations: Part 4 - Collecting Vs. Buying Art
Dana Cohen:
I want to ask for your opinion on the infamous topic of being a collector of art, versus a buyer of art. I know we have both heard comments like “ I'm not a collector,” meanwhile that person owns 15 paintings by the same artist. We have always shared a good laugh about this. For whatever reason, some individuals do not want to consider themselves “collectors.” Luke, what are your thoughts on the difference between an art buyer and an art collector?
Luke Proctor:
What's the difference between an art collector and a buyer? I think it's whether you decide to call yourself an art collector or you decide to call yourself a buyer!
Typically a “collector” wants to place specific works to create a certain feel or narrative rather than just buying what they enjoy. Having said that I have worked with several affluent individuals that have amassed 7-figure collections and some do not view themselves as “collectors.”
Look, we are seeing the change happen right now. The demystification of fine art and the huge influx of younger art purchasers. They don’t care what we call them any more than a bird cares about what an ornithologist names them. That 80’s vibe of collecting where only a certain section of people have the cultural sophistication to buy is happily losing its grip.
I do encourage people to diversify. Not just for their own pleasure but also in terms of the long-term benefits. I think these are merely terminologies and some people wish to attribute them. More conversely, some love to say they collect. Maybe they tend to be a bit more involved in the art world and love to be immersed in the community. Some feel like being a collector comes with a badge of honor. We both know it’s a bad move to discount someone that is very busy, likes the idea of purchasing art but may not have time or interest in being fully immersed.
Dana Cohen:
That’s a great way of breaking this down. If you're someone who appreciates art, you can just choose to acquire certain works. Whether you are someone who considers themselves to be a collector or you're just someone that likes to spontaneously act on certain opportunities without a predetermined outcome, all joking aside, it is really the same thing and one should not get so hung up on this. The label itself doesn't really have much merit.
Please subscribe to our newsletter for a more interesting inbox
