How to Start an Art Collection for Beginners

No matter what your age is, if you have always admired art and have wanted to have your own art collection to view, appreciate, and enhance your home, following are some suggestions as to how you can slowly begin this exciting and unique hobby/investment:

 

Research Before Buying

 

Have the fun of getting to know what type of art and which artists really appeal to you. You can do a lot of that online at your leisure, but it is even more enjoyable if you are able to go to art galleries, openings, exhibitions, and art fairs to get a major feel for what will really “turn you on.”

 

Find out about the artists, their various works, what their styles are, the galleries where they have been featured and shows they have been in, their previous sales, and as much information as you can put together.

 

A great many artists will also sell their art for extremely reasonable prices on their own websites or on Instagram because they don’t have to pay all the extra costs involved in commissions when represented by galleries. You can also save money by going to auctions during the off-season.

 

Making Purchases

 

Once you have looked at length, realize what your particular tastes are, and you suddenly see something that jumps out at you and is within your budget, go ahead and make the purchase. You will stretch your dollars if you consider an emerging artist that is new with his or her career but is being successful at making sales as compared to a popular and established artist.

 

Consider Prints or Multiples

 

If you just “have” to own a certain piece of art or photographs offered by a particular artist but just cannot afford an original, there are often prints available at a much lower price. For example, check out benefit auctions where the proceeds will go to a specific charity that you are happy to help sponsor.

 

What is Editioned Work?

 

That means that a set number of the prints or photographs has been designated, and once that number has been sold, no more can be purchased. In addition to your knowledge that you have something unique, there is a better chance of the piece increasing in value over time because of being a limited edition.

 

For Pleasure or as an Investment

 

Whichever way you decide to dedicate your art collection, the main idea is to have something delightful to look at and which will add to your decor. ENJOY!

 

Build an Impressive Art Collection with Pennies

Being a connoisseur of fine art has nothing to do with how much money you have. Money doesn’t create good taste. If you have always been attracted to paintings, sculptures and other original pieces of art, seize this moment and start fulfilling your dream of starting your own art collection.

 

Avoid Looking at the Price Tag

 

An oil painting may sport a $1000 price tag, but pay little attention. Instead, study the piece for that one quality that has caught your eye. Look beyond the subject matter and focus on blend of colors, texture and depth. Something is triggering that euphoria in your brain. By identifying a specific feature, little-known and cheaper artists can bring the same reaction.

 

Visit Online Curators

 

There are many online artists that will feature their work on curator sites. Some use a rotating system of new artists while others have scanned and selected those artists that show promise in the art community.

 

Mingle at Art Galleries

 

There is often an interesting story behind a popular artist that drives up the price of a painting. This, and other tidbits of information, can help to expand your knowledge of how an artist thinks and works. Strike up a conversation with someone that shares the same aspects of a painting as you do. They can lead you to other shows, auctions and unknown artists. Also have favorite galleries place you on their mailing list for upcoming shows and possible discounts.

 

Be Obsessed to a Point

 

Having a passion for fine art can bring you many hours of satisfaction. However, set your boundaries and do not exceed. There is no fast money in turning art and should never be looked at in this light. Art is in the eye of the beholder and if you are not going to treasure its display in your home, you have missed the point. On the other hand, do not become so obsessed with a particular artist that your budget is continually in the red. Fine art can become an addiction so be careful with your new love.

 

Take it slow and easy when building your art collection. There are little rules and regulations in the fine art industry. Be leery of individuals that try and pressure you into a sale. There are sharks everywhere.

 

Celebrities With Impressive Art Collections

Celebrities have the financial means to spend their money on a number of expensive hobbies- a popular choice as of late is collecting art by world-renowned artists. Listed here are celebrities with the most impressive art collections.

1. George Lucas
George Lucas is a filmmaker who loves to collect pieces of American Illustration. Amongst his collection are pieces by Norman Rockwell. In fact, George Lucas and Steven Spielberg lent a portion of their collections to the Smithsonian for an exhibit.

2. Val Kilmer
Val Kilmer is a famous actor who happens to be a collector of Contemporary Sculpture featuring artists such as Roxy Paine. Rumor has it that he is working toward building a sculpture park on the large property he owns in New Mexico.

3. Jane Holzer
Jane Holzer is an avid art collector, movie producer, and Warhol Superstar of the past. She collects Contemporary art from a variety of artists including Andy Warhol, Fischli and Weiss, Andreas Hofer, Jean Michele Basquiat, Jonathan Seliger, Christopher Wool, and many, many more. She has real estate in Palm Springs and from there is mostly a full-time art collector.

4. Brad Pitt
Brad Pitt is an actor and art collector of contemporary art and modern and contemporary design. His collection includes work by artists such as Banksy, Yayoi Kusama, Neo Rauch, and Marcel Dzama.

5. Maddona
In 2009, Maddona’s art collection was valued at a whopping $160 million! The singer/actress collects artwork in the realm of contemporary and modern (with an emphasis on powerful female artists). Among them the famous Frida Kahlo, Tamara de Lempicka, Fernand Leger, Pablo Picasso, Damien Hirst, Man Ray. She enjoys art depicting often controversial and thought-provoking scenes.

6. Neil Patrick Harris
Actor Neil Patrick Harris is a collector of contemporary and Americana artworks by artists such as Andrew Sendor, Tony Payne, and Darina Karpov. Several times, Neil Patrick Harris has opened his home to show his collection as an effort to raise money for the Museum of Contemporary Art in Los Angeles- and has proven to be successful in doing so.

7. Steve Martin
Steve Martin is an actor/comedian who has become more outspoken over the years becoming an advocate of the arts. He collects pieces of modern masters including Pablo Picasso and Georgia O’Keefe.

Art Collecting’s Technological Transition

The world of art collecting is being transformed by apps like Artland, Artsy, and Magnus, as well as websites like Paddle8. These resources bring the hobby of art collecting to people who cannot frequent gallery shows and art auctions, leveling the playing field among collectors. While these options broaden the pool of potential buyers, they have been met with resistance from those heavily involved in the art scene.

 

Each technological option operates in its own way. Artland, for instance, charges galleries a monthly subscription fee to list pieces on their service, through which both aspiring and seasoned collectors offer bids for individual pieces. Artsy focuses on educating novice collectors on the practice of art collection, and, like Artland, offers galleries a monthly subscription to show their pieces. Magnus serves as an aid to those attending shows and auctions, allowing the collector to capture a picture of the piece in question with their phone and run it through a database that estimates its potential value based on the artist’s other works. Paddle8 operates as an online auction house that has recently stepped into the future by collaborating with The Native to orchestrate auctions accepting bitcoin.

 

Each forum is designed to bring art to the masses, but current collectors hesitate to accept them. Many are concerned with robbing art collection of its exclusivity and mystique. By having prices available, the art world runs the risk of becoming an open market instead of an invitation only world, bringing prices down. Conversely, supporters of these apps praise them for their openness and demand even more transparency; only one third of the pieces listed on Artsy include prices, which is a staunch difference between Paddle8, which makes it a point to be upfront about monetary details.

 

Despite conflicting views, apps like Artland are poised to launch the world of art collecting into the future. Forbes quotes CEO Mattis Curth, “Until now, the art world has been small. Lowering barriers to entry will lead to a bigger market.” Without these barriers that the pioneers in art collecting’s digital age intend to complete their mission: to bring the art world out of its selective community and into the light, where any art lover has the power to view and purchase collections they otherwise would not have seen.

 

Most Valuable Art Collections in the World

Art collection supports local artists and the value it presents to society as a whole. In fact, art collecting has grown so big that the top five players in the game have more than $11 billion in assets. Art has become one of the most lucrative investments a human being can put their money into. In fact, to put art collecting into perspective, the Orange Marilyn silkscreens of Andy Warhol were originally bought for $2,400 in the ’60s. Auctioned at the turn of the century, they sold for $17 million, which is a 102,000% value increase in 40 years.

 

Here are some of the most valuable art collections in the world:

 

Francois Pinault

 

A total collection value of $1.4 billion dollars, Francois Pinault has a combined personal wealth of around $14 billion. Even small beginnings can have a massive influence, and when looking at Francois Pinault, he began from small beginnings. He started chopping wood in 1963, but he soon turned his business into a thriving profession. He grew smarter. Some of the investments he has made include Puma, Château Latour vineyard and one of the world’s largest art collections.

 

Philip Niarchos

 

Having a total collection value of $2.2 billion, Niarchos has a personal wealth of around $2.2 billion. Some of the collection of masterpieces include one of the world’s largest private stockpiles of Van Gogh and even the iconic “Self Portrait,” which took place before he cut his ear off. He bought it for $71.5 million, and he bought “Yo Picasso” for $47.9 million.

 

Eli Broad

 

Featuring a collection value of $2.2 and a personal wealth of $7.1 billion, Eli Broad has sometimes been called the “Lorenzo Medici of Los Angeles.” He’s a self-made billionaire who has done some famous philanthropic work. Broad’s interest in art dates to 1973 when he bought the Van Gogh drawing, “Cabanes a Saintes-Maries.” He picked up some other pieces like Picasso, Miro and Matisse. His collection has since expanded to include the likes of Cindy Sherman, Jeff Koons, Damien Hirst, Ed Ruscha and Andy Warhol. He has over 2,000 artworks.

 

These are some of the most valuable art collections in the world. As art collectors, each of these men hold a special regard and respect in the art community.