Fine Art Acquisition Tips
Collecting in General:
- Spend time learning about art and individual artists instead of following the latest
art trends or styles of the moment. Popularity does not insure an artist will go
up in value over the years.
- Educating yourself about up and coming artists can help you purchase wonderful work
that you can afford before it becomes artificially inflated. While purchasing expensive
pieces by already established artists is one method of collecting, it’s certainly
not the only…and not necessarily the most profitable in the long-term.
- Buy what you love. The artwork you purchase will presumably be in your home for
a long time. Make sure you really love the artwork you buy and it will enhance your
décor and add to your quality of life for years to come.
- There is no "right" way to collect art. Each collector has their own method
of purchasing art, and it can vary from: buying bundles of art at one time, purchasing
a select piece once every year or two, commissioning a favorite artist to create
individual work with personal meaning, etc. Find the style of collecting that best
suits you and stick with that.
- Ask questions. A reputable art dealer or gallery should never hesitate to answer
whatever questions you may have when considering the purchase of an artwork. Provenance,
condition, artist information, and history are all aspects of the piece that are
very important to its value and your enjoyment of the work.
- Meet with a professional corporate art consultant or gallery before making any costly
purchases. An experienced professional will guide you in the right direction in
terms of how many pieces to purchase, what style of work to include, where to install
artwork, any many other crucial decisions.
- Identify a style of artwork that expresses your company’s overall image or purpose
while also complimenting the existing office aesthetic.
For example: If your company is a very forward thinking tech firm
housed in a loft space with chrome fixtures and exposed duct work, contemporary,
abstract artwork may be the best match for you. In the reception area of an established
law firm decorated with dark woods and conservative lighting, traditional landscapes,
portraiture or still life may be better suited for the space.
- Support the local community. Many companies build their collection around a backbone
of local artists. This shows clients, employees, and the city their loyalty and
appreciation to the community and usually leads to some excellent opportunities
for local and national publicity and press.
- Keep your clients in mind. The artwork a company displays sends a direct message
to a visitor or client, often leaving an indelible impression. While you may like
a particular piece, if the artwork you choose to display is offensive or confrontational,
you run the risk of scaring away the client.
- Keep track of details. Make sure to have an appointed employee or art consultant
catalogue your artwork as it is purchased and update records as necessary. Careful
record keeping of artwork details can prevent confusion in the future concerning
damage, loss, and value.