Sunday, June 9, 2013

5 keys to build a quality art collection

1. Experts feel going for the middle work of a well-established artist or betting on a young artist both has own sets of intricacies. Accordingly, the risk element is determined. However, there is a greater element of risk involved with acquiring works of new or unknown artists in terms of return on investment (RoI).

2. It is still not such a bad option for aspiring collectors to grasp the market and develop awareness and understanding of the ground realities of it. As your appreciation increases, so does the accuracy of overall decision-making process. Develop your eye by looking at art constantly. Walk in a gallery, visit museums, surf the web, read books, talk to art experts, or go for an art appreciation courses. There are so many ways of enhancing your knowledge.

3. Prints and photography works can often be a better starting point for those collectors not ready to spend or those a touch intimidated by the notion of investing. It is easy to collect photographs and lithographs with a smaller budget. If the primary motive is to invest, then it must be mentioned that prints won’t offer the same dazzling returns as paintings and other original works of art. Though, at times you may get lucky! For example, limited edition Chagall or Warhol prints now go for handsome prices internationally.

4. From the perspective of Indian art, London-based research firm Art Tactic lists the well-established artists like Atul Dodiya, Jitish Kallat, Bharti Kher, Surendran Nair and Subodh Gupta, as topping the survival ratings. Diversity is a vital aspect of building a complete art collection.

5. Ideally, you should be looking to incorporate both original works by emerging and established artists as well as prints and photography in your collection. Although your budget and motives for initiating the exercise of collecting art are probably linked, art consultants and gallerists will tell you that you should always acquire works of art you really like. In the end, you’ve got to live with it over time.

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