There are some important things to consider before making your first purchase. In this article, we will explore some of the most common mistakes to avoid when starting an art collection.
Not having a clear vision
Before you start collecting art, it is important to have a clear vision of what you want to achieve. Ask yourself: why am I collecting art? What is my ultimate goal? Do you want to create a collection of works by emerging artists or do you want to invest in works by famous artists?
Without a clear vision, it is easy to fall into traps such as impulsively buying works that do not fit your collection or that do not align with your goals. Before making your first purchase, take the time to define your vision and think about what you want to achieve.
Don't do the research
Once you have a clear view of your art collection, it is important to do the research. Try to learn about the artists you are interested in, their works, and their market value. Look at works by emerging artists, but don't forget to take a look at works by famous artists.
Doing the research will help you make informed decisions when it comes to shopping. It will also help you avoid scams or purchases of poor quality works.
Disregard the total cost
When buying a work of art, you should not only consider the initial cost. There are other costs to consider, such as insurance, shipping, and storage. In addition, when you decide to sell the work, there will also be fees to be paid to the auction or gallery.
Be sure to consider all costs before making a purchase. That way, you won't end up with unpleasant surprises in the future.
Not assessing the condition of the work
When purchasing a work of art, it is important to assess its condition. Works of art may be damaged or have conservation problems, which can affect the value of the work itself.
Be sure to ask about the condition of the work and check if there are any conservation problems. In this way, you will avoid buying a work that is damaged or in poor condition.
Do not collaborate with professionals
When it comes to buying valuable works of art, it is important to work with professionals in the field. Experts can help you evaluate the works, identify any problems, and advise you on the best buying strategy.
Chiara, our founder, offers one-on-one consulting services for choosing your first artwork. With her extensive experience in the art industry, she can help you select high quality artwork that suits your taste and needs. Book a free cognitive call!
Disregard available space
When you first start collecting artwork, it is easy to fall into the trap of buying works that do not fit the available space. Be sure to evaluate the space you have and choose works that fit your environment.
Also, consider the light and lighting in your space. Artwork can be affected by light, so it is important to choose the right location for the artwork.
Disregard the origin of the work
When buying a work of art, it is important to know its provenance. Works may be authentic or fake, or they may come from dubious or suspicious sources.
Be sure to verify the provenance of the work and get all the necessary information before making a purchase. This way, you will be sure to get an authentic and valuable work.
Don't follow the market
The art market can be volatile and fluctuating. It is important to keep an eye on market trends and artwork values. That way, you will be able to make smart purchases and avoid overpaying for a work.
In addition, following the market will help you understand what kind of artworks are trending and assess the value of your already owned works.
Do not consider long-term storage
When beginning to collect artwork, it is important to think about long-term conservation. Artworks can be affected by factors such as humidity, light, temperature, and pests.
Be sure to assess the long-term preservation of the work and take the necessary steps to preserve its beauty and value.
In summary, collecting art is an exciting and rewarding activity, but it can also be complicated. Avoiding the common mistakes listed above will help you create an art collection that makes you happy and has long-term value. Always remember to have a clear vision, do your research, evaluate all costs, and work with professionals in the field.