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Art Acquisition Advice

Some considerations to make before purchasing a work of art.

COLLECTING IN GENERAL

 

  • MOST IMPORTANTLY: there is no single correct way to collect art, and every collector has their own method and frequency for purchasing. Find the style of collecting that is best suited to you, be it buying a bundle at a time, selecting just a piece every few years, or commissioning your favourite artist for bespoke work.

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  • Spend more time learning about particular artists and art in general instead of jumping on bandwagons. Trends are often fleeting, and you could find that a piece that you buy for its current relevance may lose value over time.

 

  • Don’t be afraid to ask questions – anyone dealing in art should be able to answer any question you have when looking to make a purchase. Find out about artist information, history of the piece, and provenance, all of which should be known to the dealer.

 

  • You want to be sure that you actually love the artwork you are purchasing, considering it will likely be in your possession for many years. It’s fine to buy art in pursuit of financial gain, but do not make a purchase solely based on some investment strategy. Make sure it looks great in the space in which it will be displayed – enjoy it.

CORPORATE COLLECTING

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  • Identify the style of art that best reflects your company’s ideologies and identity while still complimenting the existing office aesthetic. As a modern tech company in an open space with exposed fittings, you might consider abstract or minimal artwork, while a traditional office space with dark furnishings and dim lighting might call for an impressionist landscape.

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  • Meet with a consultant or gallery before going ahead with any large purchases. They will help you consider what direction to take in term of style, the number of pieces to purchase, and how they can be incorporated into your office space.

 

  • Your clients and other visitors will see the works you choose to display in your office, so be sure to keep them in mind. What they see will leave an impression of your company on them, so ensure that the piece is appropriately tasteful.

 

  • Because you may end up with a vast collection, be sure to keep a record of pieces as they are purchased, including attributes such as purchase price, blemishes, value history, and any other details around their acquisition. Consider enlisting the help of a professional to maintain this record, which will prevent issues from arising down the track.

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