Advice on collecting quality art

Niche investors are now increasingly looking to employ diversification strategies. They are turning to more eclectic investment and asset classes for their portfolios, keen to explore art as a valuable, collectible asset against other asset classes, such as equities, bonds, gold and real estate. This trend is visibly impacting the dynamic wealth management strategies of investment managers.

• Try to get a feel of what’s happening in the market in broader directional terms. For this, seek advice of art experts and dealers. Build relationships with leading galleries and online auction houses that sell quality art.
  
  
• Grasp the basics first. Understand how works of art can complement each other. Select pieces that will maximize the overall value and relevance of the art you already own. Initially, you may make some mistakes, but treat this all as part of the learning process in the development of a comprehensive collection.
  
  
• Define what you like in terms of medium, form and subject matter. Learn to describe the kind of art you like most to help dealers pinpoint your collecting tastes. Then they can find works that suits your taste and budget.
  
  
• The art world is full of opinions and information about who's hot, what to buy, and how much to pay. Understand, digest and analyze the specific details. Do your own research and make an appropriate decision. Also, try to learn as how not to buy art.
  
  
• Know common art buying mistakes so that you avoid them. The only way of achieving this is research, research and more research about artists and their growth trajectory in context of the current trends. Knowing how to evaluate information about art and art practices forms the crux of intelligent buying.

By approaching specialists and professional advisors, you can tap the immense potential of art as a rising asset class. They help you to draw precious insight into the market and build an art collection in an informed and knowledgeable way.