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Art Collecting 101

by: ptogel( 1931Feedback score is 1000 to 4,999) Top 5000 Reviewer
18 out of 21 people found this guide helpful.
Guide viewed: 3420 times Tags: art | painting | modern | oil | prints


So, you want to be an art collector? Did you know, that you don't need a lot of money to collect art? For a little more than what you spend on framing a poster, you could buy a limited-edition print or an original painting direct from the artist.

The most important thing is knowing what pleases your eye. To find out what pleases your eye, you need to see as much art as possible. When you buy a piece that has meaning for you, your experience of it will become richer and deeper over the years.

So here are a few tips to start collecting art:
  • Find an art dealer or artist that's eager to share their knowledge with you. If they can't or won't share their knowledge or inside to the artwork, move on. Some sellers lack the passion and commitment - they're just selling art.
  • Get on gallery and artist mailing lists so you'll be invited to openings and special events.
  • Avoid imitators and look for works of artists who have an individual vision and whose art is focused on a consistent path that evolves incrementally year after year.
  • Collect the works of living artists. You will be assured of buying an authentic piece of work and will have the great satisfaction of supporting a favorite artist. Art from artists that can earn a living doing art are more likely to increase in value over time.
  • Keep a file with press clippings and books on your favorite artist. Your art work will appreciate more in value if your artist is published and gains public recognition.
  • Look for a 100% satisfaction guarantee or an acceptable return policy.
  • Beware of fakes and reworked pieces. Be wary of unscrupulous dealers who delight in scamming art buyers. If you do not know the artist, search on your favorite search engine for the artists name. If you can't find the artist anywhere else, the artist might not even exist. These art production companies often invent names that sound familiar.
  • Purchase the paintings directly from the artist. It is common to purchase art through a gallery but this can be very expensive. Galleries charge as much as 40% to 65% commission to cover their promotion and overhead costs. Most self-representing artists list on eBay.com in the following categories:
    • Art > Paintings > Contemporary (1950-Now) > American
    • Art > Paintings > Contemporary (1950-Now) > European
    • Art > Paintings > Contemporary (1950-Now) > Latin American
    • Art > Self-Representing Artists
  • Start your collection by purchasing limited edition prints. Do not invest in art that has more than 300 prints in a limited edition. At that level the piece is considered a mass production and it is unlikely to become more valuable.
  • If you see a painting that you like, but the budget does not allow it, ask for a payment plan to fit your budget. A lot of artists and galleries are now offering layaway plans.
  • If you’re not sure how a particular artwork will look in your home, don’t be afraid to inquire about a trial period.
  • If you do not have a lot of walls, look for ACEO on eBay. ACEO stands for "Art Cards, Editions and Originals". These cards have one main rule - they are 3.5 inches by 2.5 inches - the size of a trading card.
  • If a painting is very cheap, it is probably not a good investment. Just because a seller writes "hand painted" does not mean that it is worth the canvas. A lot of these paintings are produced in assembly line fashion by low-paid, semiskilled workers who have been trained to simulate other artists works. They are shipped from overseas and some of them are in violation of international copyright laws.
  • Do not let a dealer or artist persuade you that because a piece of art is signed and numbered that it is a great investment.
  • Never buy an artwork only for the sake of making an investment. Most of the artworks that are sold will never go up in value.
  • Finally, it is always a good idea to contact the artist when you move or sell the art. It helps artists to have access to their work for retrospectives or survey shows.
  • If you are in California and sell art from your collection, inform yourself about the California Resale Royalty Act. The California Resale Royalty Act (Civil Code section 986) entitles artists to a royalty payment upon the resale of their works of art under certain circumstances. Under this law, it is the seller's obligation to locate the artist and pay the royalty due.

Guide ID: 10000000001001226Guide created: 05/27/06 (updated 03/11/08)

 
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