Are you planning on curating your own art collection? For investors, it's often quite crucial to know what their collection will consist of and to have a plan from the very beginning. With the right approach, curating an art collection can be a personal passion and a savvy financial investment! How do you achieve what you're aiming for? What should you plan in the first place? How much money do you need? And what to look for in art pieces you're considering buying?
Whether you're drawn to paintings, sculptures, or photography, curating a collection that increases in value takes careful consideration, patience, and a bit (actually, quite more than just a bit) of insider knowledge. In this guide, we'll walk you through essential art collection tips, helping you make informed decisions and cultivate a collection that stands the test of time.
Curating art. How to get started?
Unlike more volatile assets like stocks or cryptocurrencies, art provides a tangible investment—one that can be displayed and enjoyed while it gains more and more value. When curated thoughtfully, a collection of valuable art pieces adds beauty to your home and protects against economic uncertainty.
But how do you ensure the pieces you choose today will become valuable tomorrow? The secret lies in curation. Let's introduce you to it — step by step, word by word.
Step 1: Understand the art market
Like any investment, the artwork's worth fluctuates based on trends, cultural movements, and global demand. Artists who are famous now may not be in ten years, so doing thorough research is crucial. Our tip would be to keep an eye on both established and emerging artists! While work by renowned artists may seem like a safer bet, investing in upcoming talents can result in the most outstanding returns.
To get a solid grasp of the market and see firsthand which artists are generating buzz, visit galleries, join online groups (Facebook often works just fine!), and meet the artists. You can try subscribing to art magazines and following auction house results. A well-informed buyer is a successful collector.
Step 2: Quality over quantity
What's worth more: three renowned art pieces, thoughtfully selected, or ten randomly chosen paintings?
Focus on the quality of your pieces rather than the quantity. A small collection of high-quality, valuable art pieces connected by some sort of motif will generally return more than an extensive collection of lower-value works. But here comes the question: what defines "quality" in the art world? It typically refers to the uniqueness, condition, and historical significance of a piece, as well as the artist's reputation. Check out what makes good art, too.
Tip: When selecting pieces, always look for works that speak to you personally, but also consider their potential for value growth. Consider aspects like provenance (the history of the artwork), exhibition history, and whether the artist has received critical acclaim.
Step 3: Diversify your collection
Don’t put all your eggs in one basket by only collecting works from a single artist, genre, or style. Spread your investment across different mediums (paintings, sculptures, photographs) and movements (modern art, abstract art, contemporary art). This approach minimizes the risk associated with market fluctuations, ensuring that if one area declines, other works in your collection may still increase in value.
Step 4: Build relationships
This one may surprise you, but… curating valuable art pieces is not a solitary endeavor! Building relationships with galleries, dealers, and even artists themselves is a smart strategy for gaining insider access to the best pieces. Galleries, in particular, can be invaluable in guiding your collection. Reputable galleries, like Robert Lange Studios, represent artists with proven track records or significant potential, and purchasing through them often comes with authenticity guarantees and thorough documentation.
Step 5: Manage the risk
We won't deny it — if you treat curating art only as an investment, it'll always come with risks, as it's not easier than other investment forms! But these can be managed effectively. First and foremost, always purchase pieces from reputable sources. This way, you'll avoid counterfeit or poorly authenticated works. Provenance, or the documented history of an artwork, is a must. Second, keep in mind that art is a long-term investment. Patience is essential. If you need quick returns, the art market might not be the best avenue for you. However, for those willing to wait, the rewards can be, to say the least, substantial. One more tip? Sure. Be mindful of external factors that can affect the value of your collection, such as the condition of the pieces and market trends. Proper care, including appropriate storage, handling, and insurance, ensures that your collection maintains its value over time. We write about it more here — How to Take Care of Painting? Maintenance methods.
