Many of us are looking for ways to begin collecting modern or contemporary art. Whether you are planning to collect for investment reasons or just because you love contemporary art, there some tips you should follow so that you get started right.
Looking at Modern Art Before You Begin Collecting
Before you spend any money on collecting modern art, spend some time exploring various galleries and museums. When you find yourself lingering at a certain type of contemporary art piece, make note of it. By the end of the day, certain types of modern art will stand out and you will remember them.
Learn to Take Time Before You Buy Contemporary Art
Many new contemporary art collectors rush to buy their first pieces. Experts advise that you not purchase any modern art for at least three months. Give yourself time to focus on what you as an art collector real like. Begin your art collection with works on paper such as ink, pencil, or collage. Collectors usually begin with these, as they are usually less expensive than paintings.
Set a Spending Limit When Contemporary Art Collecting
Unless you have unlimited resources it is probably best to set price limits as a beginner. Many experts agree that $200 is a great starting point for those beginning as contemporary art collectors. If you find a piece of contemporary art that you really love but can not afford it, walk away knowing that at the very least you have learned what appeals to you. Go online and check out the various auction houses’ catalogs to get a better sense of what the market is and what you can afford.
Seek Out Contemporary Art before Collecting
There are deals to be had for those collectors who are willing to travel. Many art fairs allow you to view a lot of contemporary art in one location. Some art fairs offer the mainstream artists where great contemporary art can be found. Some of the smaller art fairs might cater to the more edgy, up and coming modern artist. Do your research and decide which art fairs will have what you are seeking.
When to Buy That Contemporary Art for Your Collection
Once you have narrowed it down to the artist and the collection, when do you know it is right to pull the trigger and buy? It usually comes when you have spent time remembering that piece and you can envision it your home. When approaching a gallery that has the piece you want to buy, ask for a discount. The standard discount for contemporary art at most galleries is ten percent. Many galleries are willing to negotiate with buyers in this economy.
Stay Focused On Your Next Contemporary Art Purchase
It is important that you have the focus and a natural compassion when your contemplating your next contemporary art piece. There should be a thread or a general direction with the contemporary art pieces you already own. The best modern art collections are those that have well-recognized personal taste influences.