No matter which country you go to, what community you meet, or who you interact with, one thing you will find common amongst them all is the love for art, in one form or another. The origins of art date back to prehistoric times more than 50000 years ago when traces of it were discovered in the form of cave paintings and figurines. It is safe to say that art is a binding factor between different individuals of the human race. Some people like making art, while others love to appreciate and admire the talent presented before them.
While you may be an art lover, it is understandable that you do not know much about how the art world works. It can be somewhat intimidating when you walk through the doors of an art gallery for the first time or decide to go to a high-end auction to make a bid. We understand your pain because we were in the same shoes once upon a time. But trust us when we say that it is not as daunting as it may seem.
To help you decipher the complexities and guide you on the ways of the art industry, we decided to collect some useful must-knows when it comes to investing in art. Whether it is your first purchase or hundredth, the following tips will help anyone who wants to buy some artwork.
Know What You Like
While you research various popular artists or art styles, the hype revolving around certain artists can catch you like a mouse in a cheese trap. Do not be influenced too much by the opinions of other people, especially the experts. You do not have to like what everyone else seems to be attracted to. You may be more fascinated by the work of a local artist than one who has made it big on the national or international stage. That is the best thing about art. It is supposed to resonate with you on a personal level. You should be drawn to, intrigued, and most importantly, moved by the artwork. When taking advice, do not feel pressured to purchase something based only on the recommendations of other people or how trendy the artist may be.
To state the obvious, purchase a painting that you like. For that, you will need to take your time and assess whether or not you like what you are looking at. Before investing in artwork, take a trip down to several galleries, art fairs, expositions, and museums, or look at paintings online considering the current pandemic and find the art that you feel most connected to.
If a specific artist or art style makes you excited, dive further into the exploration of their origins. That will also help you sharpen your eye and help you gather profound knowledge of the different approaches and techniques to painting art.
Never Rush Any Purchase
If you feel like you have found the perfect piece of art, it would be advisable to take your time to evaluate whether or not you need it. It is easy for a first-time purchaser to fall in love with a piece of artwork and make a rushed purchase in the excitement of it all. We advise that you meticulously examine the detailing from every angle and assess the practicality of making such a purchase.
Image by ShonEjai
Assess whether or not the painting will even look good where you want to place it. Will the dimensions of the painting align with where you want to hang it? Moreover, do you feel like the color palette of the artwork will fit in with the décor of your home’s interior? You must ask yourself these questions before buying any artwork. The last thing you want is for your purchase to be an eyesore.
Budget, Budget, and Budget
Artwork does not come cheap. That is why budgeting is a smart way to go about purchasing artwork. Do not let yourself drown in love at first sight. That is also another reason you should not rush your purchase.
When you find an artwork that you truly resonate with and feel an emotional connection towards, it can leave you tempted to buy it, even if you can not afford it. By sticking to a budget, you will end up looking at artworks that fall within that range, and therefore you will not shell out an amount that will dig a hole in your pocket.
It is imperative you take into account the hidden costs of purchase when budgeting. The painting itself is not your only cost. You have the packing, delivery, framing, installing, and of course, the insurance costs.
Note: Do not let budgeting dishearten you from purchasing original artwork. We all start from somewhere, and it is perfectly alright to go for cheaper pieces of art in the beginning before slowly taking it up a notch somewhere along the line in the future.
Find Modern Ways to Invest in Artwork
If you are not looking to purchase physical paintings but want to invest in art, then you can make use of investment platforms, such as Masterworks.io, which allow you to own shares of classic and popular blue-chip art, like Monet and Picasso. Check out the Masterworks review to get an idea of how the platform works. That way, you will be investing in shares that yield high returns without you having to go out of your budget.
Proof of Authenticity
Regardless of who you purchase from, whether it is the original artist or an art gallery in your local area, you must ensure you are receiving a genuine product. Never forget to request a certificate of authenticity, especially for the kind of artworks that can be easily reproduced, such as photographs.
Once you take all of these factors into consideration and still feel like the painting is the one for you, then simply go for it and start adding to your collection. Never forget to flaunt the artwork you have purchased by giving it the best frame, no matter how expensive. That not only showcases your art, making it stand out but also protects it from damage in the long run.
Moreover, wherever you display your purchase, it is critical for the lighting to be good. After all, what is the purpose of such an expensive purchase if you can not even see it showcase it properly, right?!
So, without waiting any further, start your journey of becoming the art collector you have always dreamed of being.
Image by Mondschwinge
About the Author/s
Tom is a lifelong New Jersey resident, Rutgers and FDU alumni and the publisher of The Digest.
