Which way do new collectors now prefer to buy works?

It's a question that should interest one and all in the domain of art. In this backdrop, the emerging collectors now preferring to boldly bid at art auctions than buying from galleries, at least while starting off, is a phenomenon explored by The Business Standard writer Kishore Singh in his column ‘Gone, to that gentleman there...’

The art expert points out that several young or aspiring collectors who have a serious interest in art have started out with placing bids at auctions. Entering into the speculative world - on the face of it, at least — you can never be certain of the price till it’s paid! — something that makes sense for the veteran collector. But then, why would newbies choose to take their plunge into uncharted waters?

The art expert explains: “It makes a lot of sense from their perspective to begin testing their skills at an auction for neophytes. While the mandatory reading up and galley visits remain essential for familiarizing with art and artists, an auction comes with its own inherent advantages, not least of which is that the task of selecting the best, most representational artworks from a particular genre, or period, or of an artist, has already performed by the auction house experts.

“No prestigious auction house contrary to popular belief accepts all works consigned to it for selling. International auction houses like Christie’s, Sotheby’s, or Bonham’s, or home-grown ones like Saffronart and Osian’s will evaluate each painting, or sculpture, for its merit, and only accept those that are in some way remarkable, or distinctive.

"This means authorities on art have already undertaken the selection, thus saving you a lot of effort and time that such a process would otherwise have cost. While it can be said that not all works on offer at any given auction are iconic, you can be certain that they do take the blood, sweat and tears out of the business of collecting.”

Equally important is the paperwork the auction house would have done to establish provenance, and make sure that all the required papers for documenting the line of ownership, any history of the artwork in place, to take the guesswork out of everything from pricing to a condition report, insurance etc.