How to start an art collection?

Are you interested in starting an art collection but unsure where to begin? Contemporary art can be a great place to start, as it offers a wide range of styles and mediums to choose from. Not only can an art collection bring beauty and personal enjoyment to your life, but it can also be a valuable investment. However, starting an art collection can be overwhelming, especially for those new to the world of contemporary art. 

In this article, we will provide a comprehensive guide on how to start a contemporary art collection, from researching artists to setting a budget and preserving your pieces. Whether you're a seasoned collector or just starting, this article will help you navigate the process of building a meaningful and valuable collection of contemporary art.

One of the most exciting aspects of starting an art collection is the personal enjoyment it can bring. Having beautiful and thought-provoking art in your home can enhance your living space and bring a sense of refinement and culture to your everyday life. Not only that but owning an art collection can also be a valuable investment. As the art market continues to grow, many contemporary artists are seeing a significant increase in value, making it a smart financial decision. Building a collection of contemporary art can be a great way to diversify your investment portfolio and potentially see a significant return on your investment in the future.

However, it's important to remember that investing in art is not a guaranteed way to make money and should be done with caution. By the end of this article, you will have a better understanding of how to make informed and smart decisions when building your contemporary art collection, both for personal enjoyment and investment potential.

Do your research about the art world

Before making any purchases for your contemporary art collection, it is crucial to research different artists and movements. This will not only help you make informed decisions about which pieces to add to your collection, but it will also give you a deeper understanding and appreciation of the contemporary art world.

One way to research artists is by visiting galleries and exhibitions. Many galleries specialize in contemporary art and will have a rotating selection of artists on display. This is a great way to see a variety of works in person and get a sense of an artist's style and technique.

Another way to research artists is by attending art fairs. Art fairs are a great way to see a large number of galleries and artists in one place. They also provide an opportunity to meet artists and gallery owners, who can provide valuable insights and information about the contemporary art market.

Following art blogs, websites and social media accounts of artists, galleries, and museums can also be a great way to stay informed about the contemporary art world. Additionally, it's also a good idea to read up on art history, particularly the recent movements and trends, as it will give you a deeper understanding of the context in which contemporary art is created.

It's important to remember that researching contemporary art can take time and requires patience, but by taking the time to learn about different artists and movements, you'll be able to make more informed decisions about which pieces to add to your collection and understand the context of the artwork.

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"Collecting takes time"

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In summary, researching contemporary artists and movements is an essential step in building a meaningful and valuable art collection. By visiting galleries, attending art fairs, and following art blogs, you'll be able to see a wide range of contemporary art and make more informed decisions about which pieces to add to your collection. Additionally, taking the time to understand the context of the contemporary art world will give you a deeper appreciation for the pieces in your collection. Remember that building an art collection is a process and it takes time, so be patient and enjoy the journey of discovering new artists and movements.

Keep these tips in mind as you begin your research, and you'll be well on your way to building a contemporary art collection that you'll be proud to own.

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Set your budget, and stick to it

If you decide to create your art collection, one of the most important things to consider is setting a budget. Having a budget in place will help you make more informed decisions about which pieces to add to your collection and ensure that you don't overspend.

As the art market can be unpredictable, and prices can vary widely, setting a budget is one of the most important pieces of advice. By having a budget in place, you can avoid overspending on a piece that may not be a good value in the long run. Additionally, setting a budget will help you focus your search and allow you to be more selective about the pieces you choose to add to your collection.

Another reason to have a budget is that it allows you to allocate funds for different types of art and artists. For example, you might allocate a certain amount for emerging artists, whose work may be less expensive but has the potential to appreciate over time. By allocating a budget for different types of art, you'll be able to build a more diverse and interesting collection.

It's important to note that budgeting for an art collection should be done with caution, as investing in art is not a guaranteed way to make money and should be done with caution.

When it comes to budgeting for your contemporary art collection, there are a few tips to keep in mind :

• First, consider setting a spending limit for each piece. This will help you stay within your overall budget and ensure that you don't overspend on any one piece - multiple investments are better than putting all your money on one artwork.
• Another tip is to allocate a certain percentage of your overall budget to emerging artists. As previously mentioned, investing in emerging artists can be a smart financial decision, as their work may be less expensive but has the potential to appreciate over time. By allocating a portion of your budget to emerging artists, you'll be able to add unique and exciting pieces to your collection while also potentially seeing a return on your investment.
• It's also a good idea to keep an eye on the art market, keep track of the prices of the artist's works you're interested in, and compare them with other artists in the same field. This will help you understand the fair market value of the work and avoid overpaying.

Additionally, it's important to be mindful of your spending and make sure you're not stretching your budget too thin. It's better to take your time and save up for the piece you want than to make a hasty purchase that you'll regret later.

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Building your collection from scratch

Thanks to technology and all the opportunities we have nowadays, there are many ways to go about acquiring pieces. One popular method is, of course, visiting galleries and purchasing directly from the artist or a representative. This can provide the first opportunity to see the work in person and gain a sense of the artist's technique and style. Additionally, purchasing from a gallery may include added benefits such as a warranty or the option to exchange or return the piece.

Another method to consider is participating in art auctions. Auctions can be a great way to find unique and valuable pieces, but it's important to do your research and understand the auction process before placing a bid. It's also important to be aware of the auction house's reputation and expertise in contemporary art.

A third option is buying from private sellers, these can be individuals or smaller galleries that don't have a physical location. Purchasing from a private seller can be a great way to find unique and one-of-a-kind pieces, but it's important to be cautious and do your research to ensure that the seller is reputable and that the piece is authentic.

Online platforms such as Artsy, Artspace, and Saatchi Art are also a way to purchase contemporary art online. These platforms can be a great way to find a wide variety of contemporary art, but it's important to be cautious and do your research before making a purchase.

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Building a cohesive collection

Once you have acquired pieces for your contemporary art collection, it's important to consider how they will work together to create a cohesive collection. One way to do this is by selecting pieces that complement each other in terms of style, medium, and subject matter. For example, if you have a piece that is a large-scale abstract painting, you may want to consider adding a smaller more detailed piece that complements the colors or themes of the larger piece.

Another way to build a cohesive collection is by aligning the pieces with your taste and interests. Your art collection should reflect who you are as a collector, your style, and your aesthetic. By acquiring pieces that you genuinely love and that align with your taste, you'll be more likely to appreciate them for many years to come.

Consider also the placement of the artworks in your home, and how they will interact with the environment. You want to make sure the lighting, colors, and size of the pieces work well with the room they're in and with each other.

Remember: building an art collection is an ongoing process, and it will change and evolve as your taste and interests change. It's ok to add and remove pieces as needed to keep the collection cohesive and reflective of your style.

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Preservation and display of your art collection

When it comes to preservation, you should keep in mind that different types of art require different types of care. For example, paintings should be framed with acid-free matting and UV-protective glass to prevent fading and discoloration. Photographs and prints should be stored in acid-free folders or sleeves and kept in a cool, dry place to prevent fading and discoloration. Additionally, sculptures and other three-dimensional pieces should be placed in an area that is not exposed to direct sunlight or extreme temperatures.

Do not forget to consider lighting, placement, and environment. The lighting in the room where the art is displayed should be bright enough to see the piece clearly, but not so bright that it causes glare or fading. Additionally, it's important to consider the placement of the piece with other pieces and the overall design of the room. The piece should be placed in a location where it can be viewed and appreciated easily.

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Conclusion

In conclusion, starting a contemporary art collection can be a rewarding and enjoyable experience. The key takeaways from this article are:

• Researching different contemporary artists and movements is essential in making informed decisions about which pieces to add to your collection.
• Setting a budget for your art collection is important to ensure you don't overspend and it helps to make smart financial decisions.
• There are different ways to acquire art, such as purchasing from galleries, bidding at auctions, or buying from private sellers, and each has its own set of benefits and potential risks.
• Building a cohesive collection is important and it can be achieved by selecting pieces that complement each other and align with your taste.
• Properly preserving and displaying your art collection is essential for maintaining the integrity and value of the pieces.

By keeping these key takeaways in mind, you'll be well on your way to building a meaningful and valuable contemporary art collection. Remember that building an art collection is an ongoing process and it should be enjoyed and appreciated. Whether you're a seasoned collector or just starting, we encourage you to start your contemporary art collection today.

Here are a few additional resources for readers to explore further as they begin to build their contemporary art collection:

Galleries:

• Gagosian Gallery (global locations)
• David Zwirner (New York, London, Hong Kong)
• Hauser & Wirth (global locations)
• White Cube (London, Hong Kong)

Online Platforms:

• Artsy: An online platform that connects art collectors with galleries and artists.
• Artspace: An online marketplace for contemporary art.
• Saatchi Art: An online marketplace for emerging and established artists.

Art Fairs:

• Art Basel (global locations)
• The Armory Show (New York)
• Frieze (London, New York)
• TEFAF (Maastricht, New York)

Museums:

• Museum of Modern Art (MoMA) - New York
• Tate Modern - London
• Centre Georges Pompidou - Paris
• Guggenheim Museum - New York, Bilbao, Venice

Art Blogs/websites:

• Artnet News
• Artsy Editorial
• Hyperallergic
• The Art Newspaper

By visiting these galleries and art fairs, using online platforms, visiting museums, and reading art blogs, you'll be able to stay informed about the contemporary art world and find new and exciting artists to add to your collection.

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Thank you for reading. We hope you found the article informative and helpful. Remember to enjoy the process of collecting and researching to find new and exciting artists. Happy collecting!

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