5 tips for buying artwork for the first time
Buying art for the first time can be an intimidating process. Some galleries may seem elitist and unwelcoming, and prices may not be readily apparent. Conversations and vocabulary can feel like listening to another language.
But starting a collection, while a big step, doesn't have to be intimidating. Want to be confident when buying? Follow the best tips for beginner collectors!
1.View as much art as possible
The best advice before buying is to see, see and see. It's very important to look at art – and not just art that you're interested in collecting. Visit as many museums, art fairs and galleries as possible. Traveling presents many opportunities especially for discoveries, as you can explore galleries and museums outside the area of residence. If you don't have the possibility to travel, explore all the news through social networks. Looking at art will help you recognize where a particular artist stands in the contemporary art scene: who and where they are; who are the other artists with similar practices and ideas; and what sets a particular artist apart from others in their sphere. Seeing art helps you to develop your awareness and train your eye. Learn what you like and take the time to find out which artists or types of works fuel your curiosity.
2.Search
After seeing and getting to know better the existing options for art pieces, in galleries, museums, and on the P55.ART website - and already trusting your tastes, you will probably already have an idea of a style of work, or even the work of a specific artist you would like to purchase. But first, it's important to research more about the artist and movement you like. Conduct a variety of searches and read important information about new artists and trends. Knowing the information about the creator or specific movement before collecting will bring more confidence to your purchase.
3.Say “no” to trends
If you've already developed your eye and done your research, you'll feel comfortable with many of the ins and outs of the art world: which movements are on the rise, which artists everyone is talking about. But in an arena that produces art stars seemingly overnight and auction records are often set, then broken – and then broken again – for young up-and-comers, it's important to stay grounded when considering buying a work. Remember that your focus should remain on the work and not on the hype around it! Don't let someone talk you into buying something you don't have a personal connection with. If you can explore their tastes and do your research, you will build a museum-quality collection.
For new collectors who may be especially eager to try to buy a work by a now extremely famous artist remember: It is necessary to value art, not its value. Buy art with your eyes, not your ears. Collect permanence. Avoid trends!
4.Find connections
Of all the works of art in the world, only a small fraction have increased in value after being acquired for the first time – so collectors, especially people buying for the first time, should avoid approaches that promise generous returns in the future. They should, however, be hyper-focused on buying pieces that are meaningful. Art enriches, investment returns. Especially when you're just starting out, the choice of what you want to collect should be personal. Any work you acquire should have a personal connection that feels lasting. There could be a myriad of reasons behind this connection, such as the work of art bringing you inspiration, reminding you of moments in your life or even making you contemplate your reality and challenge your perception. The important thing is that the connection exists. Buying a work of art is an investment for your everyday life.
This means not quickly acquiring a job just because you like it, but ensuring that the experience stays with you long after you find it!
5.Dive responsibly and remember to have fun
Research, deliberation, price comparison can be endless and stressful for someone buying art for the first time. Don't overthink it, just go ahead and dive in! The move can be truly transformative as it will empower you as a collector and maybe even set you on a new journey for life!
Even so, that doesn't mean it should be hasty! Make your first purchase within a comfortable budget.
Being aware of your budget is a key and very important issue when getting started. Don't fumble or worry too much, don't overwhelm yourself with rigid strategies or overthink it, you're just getting started. After all, the process of buying art should be a pleasure!”