Build an Impressive Art Collection with Pennies

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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

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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

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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

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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.

 

Tips for Starting An Art Gallery– According to the Experts

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The most important consideration for individuals who plan to start an art gallery is to know your target audience. The next most important tip is to study the planned location of the gallery.

 

In large urban areas like New York City, starting an art gallery is a relatively simple matter of choosing a location with a lot of daily foot traffic. In large crowded urban cities, there is less worry about a target audience since throngs of people pass by an art gallery and, on impulse stop in due to an art collection that captures their attention. In these large cities, art galleries crop up on sidewalks, in local parks and in strip malls.

 

The Grand Opening of an Art Gallery

The most momentous occasion for a prospective art gallery owner is the Grand Opening. This event should attract artists, art lovers and buyers. Choose a specific theme for the Grand Opening that becomes a signature style of the gallery’s offerings to create the gallery brand.

 

This event should create a lasting memory of your gallery’s purpose and artistic potential for a wide range of patrons. A Grand Opening announcement should be done several weeks before the date of the opening through advertisements and public relations. Don’t be afraid to contact local dignitaries for a “ribbon cutting” ceremony.

 

An Art Gallery with Curb Appeal

The other facet of starting an art gallery is creating a proactive calendar of gallery events. These events include guest artists’ collections or an open house during the holidays. The purpose of starting an art gallery should be clearly defined before a location is chosen. Decide whether renting or leasing is within budget.

 

Advertising and PR – Tools for a Solid Start

Experts agree that art galleries with the greatest success are those who have a well designed advertising and public relations program in place. An effective advertising plan should include social media and some form of hard copy ads in local papers and magazines.

 

The public relations plan should focus on encouraging regular gallery patrons of the art. Successful art galleries often choose activities for patrons like a “wine and cheese” art collectors’ and buyers’ soiree. Don’t be afraid to start gallery events with a program by professionals in art restorations and identifying valuable works of art.

 

Collectors and Buyers – The Lifeblood of a Startup Art Gallery

Obviously, without art collectors and buyers, a gallery’s finances suffer. Before the Grand Opening, create a list of potential collectors and buyers for the type of works of art that will be on display.