Active Buying: How to Buy Art

Sometimes buying art makes sense, but not always.

Perhaps your first purchase went smoothly.

The piece spoke to you and it seemed like a reasonable price. You mentally transported him to your hallway until he eventually returned home with you without any difficulty.

Whether you're a new collector or trying to be more active with your collection, there are a few golden rules for buying art.

Follow these 5 proactive tips for a successful art purchase:

1. Develop your style

Start by visiting local galleries and art exhibitions. Gallery owners and artists are your first sources of information about eras and styles that interest you. Tell them what you like about the piece and ask for recommendations from other galleries and artists to explore. Don't be afraid to say what you don't like and why - it can give you an idea of ​​styles or eras to avoid.

2. Start your art education

Once you have a certain style, you can immerse yourself in personal art education.

Attend auctions with no intention of buying to understand the intensity and speed of bidding. The auctioneers will tell you about the periods and styles that are for sale. This will show you the competitive side of buying art and give you an idea of ​​prices.

Shopping without the intent to buy will also immerse you in the culture without involving you in the buying process. Your emotions can get the best of you when you fall in love with a piece, and self-control is the only way to stay calm.

This experience will give you a confident and educated demeanor during future interactions with auctioneers and dealers.

3. Set a budget

Setting a budget is important because it's easy to get carried away.

While you want to be in love with the item you're buying, don't let your heart make financial decisions. You want to consider aspects such as delivery, delivery, and when needed. Auctions may also require a buyer's premium, resulting in a value higher than the winning bid.

Budgeting is also about understanding the difference between what is an investment part and what is not.

If you are going to spend a large amount of money on a piece of art, it is wise to confirm that it is an investment piece. An investment can be the purchase of a work by a young or emerging artist. It could also be an increase in your budget to buy something that you think can be sold at a profit later.

If you have any questions about investment pieces, .

4. Seek advice from professionals

The art world is multifaceted, and each has its own expert. This includes appraisers, conservators, and asset management firms.

We have outlined some of the basics of working with these various professionals in the art world. If you ever have questions or feel like you need expert advice, feel free to reach out to an experienced person. In some cases, you can get an initial consultation for free.

Meet the following art professionals and find out how they can help:

5. Document everything

Make sure you have digital copies of receipts, invoices, status reports, and contact information in your account. These documents will be your first resource when evaluating the value of your collection, planning an estate, or deciding to sell.

As your collection grows and you frequently make productive art purchases, your provenance documentation will become the most important part of managing your art collection.

Get ready for your first purchase and find out more helpful tips in our now available for download today.