How you can enhance and protect the value of your art collection

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The journey of a work of art is part of its history

Imagine yourself at an art auction before bidding begins.

You are looking through the items for sale and two of them catch your attention. They are similar in size and style and created by the same artist.

The first is listed as "Woman on a divan", 1795.

The second is cataloged as "A Woman Reflects on the Future of France in a Drawing Room". It includes details about the artist's participation in the French Revolution and how this painting was created after the revolution in 1800. The artist's mother was a member of the Society of Revolutionary Republican Women, a short-lived organization during the French Revolution. on women's rights and gender equality. The first recorded owner was a French history professor living in Maine, who then loaned it to the Museum of French History in Paris for the last 15 years. Thanks to the careful history of the purchase, the value of the painting has doubled since it was first brought to the United States.

Although this scenario is hypothetical, such a situation may influence the buyer's decision. The story behind the piece may trace its growing value, but it also provides the context for the personality and story to fully understand the piece.

This data is written when you start archiving your collection, as more is written during the time you own it. When you start working with art appraisers and gallery owners to gather the documentation and history behind the piece, these details become invaluable. The next important step is to protect your records with a simple art collection management tool.

Why careful documentation adds value to a work of art

gives collectors a safe and powerful inventory tool that organizes and analyzes the condition and longevity of your collection. Unlike other software solutions, Artwork Archive tools visualize the value of your collection so you can see its purchase history, estimated value, geographic location, and your investment over time.

These are four ways your documentation can enhance and protect the overall value of your art collection.

1. Add value to your art collection by recording provenance

According to Rosemary Carstens of . Especially if the artist is no longer alive, a recorded history of the owners and whereabouts of a work is the first step towards confirming its creator and provenance. Consultants and appraisers will check the documentation to confirm the legitimacy of the artwork. Ownership details can add value.

“Scan documents to create a digital record, and don't forget to create that important backup for storage elsewhere,” Karsten adds. In Artwork Archive, all documents and files are stored in the cloud, which means that you will not lose them if your computer crashes and you can access them from any device connected to the Internet.

Take every opportunity to learn something about your art. If the artist is still alive, take the opportunity to discover the emotions and intentions behind each of your creations. If the artist is no longer alive, talk to appraisers and gallery owners who are familiar with the work and its implications for the broader scheme of the artist's work and the art world. These details should be written down for reference. Eventually, your art collection will become too large for you to memorize them all. You also want your art managers and family members you grant access to have this information.

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2. Protect the value of your art collection in the face of theft

An itemized report on your art collection will be your first resource in responding to a theft. It will hold all the documents proving that the artwork belonged to you and where it was before it was stolen. The most recent values ​​and ratings are what your insurance will reimburse you for. Thus, documenting the most recent value is the only way to be compensated for the highest value of your artwork.

With Artwork Archive you can create and export reports that show all the information your insurance company needs to file a claim.

3. Add value to your art collection by documenting its evolution

The development of your collection is important to your portfolio. For example, the first item that sparked your interest in Neolithic pottery has a story to tell as you acquire more. A well-documented collection gives your work the detail and personality you need to add value to your collection. The detailed design of an art collection affects the integrity of your hard work as a collector and your pieces. When you neglect to document the history of a work of art, it not only jeopardizes its value, but it can also affect its value.

4. Save the growing value of your art collection for the future

Understanding your investment is critical in taking care of your art collection and your overall net worth.

When you manage the value of your collection with Artwork Archive, you can create reports that display the value of your collection from day one to the present. You can also analyze cost by location and view a geographic visualization of your art collection and cost.

When you save the value of your collection, you save the overall value not only for yourself, but also for your family. Here's how you do it, and the legacy of your collection will be passed down through your family's veins.

Documenting the work in your collection is only part of a successful art collection. Find out more tips and best practices in our free e-book.