10 Tips for Buying
Art - and
Getting the Best Bang for Your Buck!
by Oliver Ray
Investing in art can be personally satisfying and financially
rewarding. These ten tips will help you get the best of both
worlds!
1. Get online. Like everything else, comparison-shopping will
ensure you find the best product for your situation. The
Internet is the most efficient way to take advantage of the
vast
array of different styles, prices, mediums and sizes of art
available to collectors.
2. Avoid art without a price. When you are directed to inquire
about pricing, it is most likely an attempt to gauge your
interest and charge you the highest possible price according
to
your circumstances.
3. Look for an independent artist. Commercial galleries have
their place, but you get far better value when you purchase
directly from an artist, particularly one who is “emerging”
or
“not-yet-established”. Keep in mind that a gallery’s
cut is
usually 50% of what you pay.
4. Find a unique, consistent style. A contemporary work of
art
that looks “just like” a Monet or Van Gogh, for
example, might
have aesthetic appeal, but will not prove to be “valuable”
over
time. Ultimately, you want to find an artist who can eventually
be identified by his or her style (without looking at the
signature).
5. Study the artist’s biography. Knowing some fundamental
information about an artist can help you gauge their potential
for growth and will often provide a deeper understanding of
their
work.
6. Look for dedication, not education. When looking for a
great
doctor or lawyer, academic accreditation matters. When looking
for great art, however, it is not as important. Artists whose
work appreciates the fastest exhibit a strong work ethic and
a
lifelong dedication to producing great art. Picasso, for
example, had no formal training past the age of 16, but was
the
most prolific artist of the 20th century.
7. Interact directly with the artist. This allows you the
opportunity to augment the information provided in an artist’s
biography, and helps ensure a smooth transaction- especially
when
buying online. It is also advantageous to get a feel for the
artist’s personality and stick-to-itiveness.
8. Negotiate. If you find an artist whose work falls well
within your budget, offer to buy multiple pieces at a discounted
price. Alternately, you could suggest buying successive pieces
over time for a predetermined amount.
9. Frame the work yourself. A frame should not only enhance
your art, but should also compliment the space in which it
hangs.
It is also more cost effective to buy and ship unframed art.
10. Promote “your” artist after the deal is done.
There is a
direct correlation between the value of an artwork and the
name
recognition of the artist who painted it. By encouraging others
to explore “your” artist’s work, you help increase
the value of
your personal collection.
About
the author: Oliver Ray is a Canadian artist based in
North-Central British Columbia. Visit his online gallery at
www.OliverRay.ca
to learn more.
