Buying Art is a Measure of Passion, Fine Study and Research, Building and Bringing Joy into your Home.
One of the great myths of art collecting is that it is a dauntingly expensive hobby. The news is full of unfathomable numbers, record breaking prices, and collectors with endless budgets. But the average collector doesn’t engage with art collecting at those levels.
The most important thing when beginning an art collection is developing a taste, and further an identity with it. The art that you hang on your walls is reflective of your personality and where you come from – both personally and culturally. The most interesting collections are often those with meaningful stories and a personal journey. This comes from relationship building within the art community. Conversations with fellow collectors, artists, curators and gallerists can be fulfilling in a way that makes the journey as exciting as the eventual acquisition. During these conversations, it becomes apparent, that the wallet needn’t be wiped clean with an art purchase. There are solid options to buying art that doesn’t put a strain on a budget that must be set at the outset.
Often, buying an emerging artist’s work can be exciting and fulfilling as one grows and evolves with the artist, become part of their journey, and their success. At the same time, a collector may have a dream of buying a master’s work, and though the price of a large-scale work with a particular vintage may be unaffordable, it could be just as joyful to buy a drawing, or a limited edition signed print, which would come at a fraction of a price, and become a precious gem in your collection.
An evolved collector also understands that an unlimited budget doesn’t necessarily guarantee the best collection. It is more often about developing taste and a passion to collect art that resonates closely with your identity – this could be about supporting a young artist’s journey or sometimes falling in love with a particular genre, artist or medium and collecting it in depth. Some of the best collections are ones that don’t have a scattering of everything that one may see in multiple homes, but ones that have found their own path and followed it passionately – it could be a collection of photography, black and white works or even a single artist.
As the journey continues, the taste evolves, and so do more avenues open, often giving you access to works that wouldn’t be available easily to a newcomer in the market. For example, there are often non-profit exhibitions and charity auctions, where artists donate works at bargain prices to support a cause, thereby giving collectors an opportunity to collect works that may not be accessible otherwise.
Another factor to consider is that the art market works in waves. There are trends that drive prices up of a particular artist, or generation of artists. A smart collector wouldn’t necessarily get caught up in that, and instead research art that hasn’t garnered enough attention and interest yet. This kind of knowledge requires some work – talking to experts in the market, studying the history of art to understand which medium or genre of art hasn’t had it’s due yet, and then diving in to buy the best there is within that. For example, in recent years, there has been a shift of interest to textile art and tribal art. There is probably still more growth to be seen there, and is an interesting space to explore, especially for someone with an interest in historical material and craft.
Being curious and informed though demanding in terms of time and energy will always pay off with significant rewards in the long term. Most importantly, a collector must remember that the artwork that they decide to acquire will be enjoyed by them on a daily basis (unlike other financial investments), and sometimes it may be better to buy one work that they love at a slightly higher price, rather than buying five that they like but may be coming at a bargain. So, whether the strategy is to find the next star or to buy an intimate work by a master, it is important do a bit of homework, and at the end of the day, go with something that you fall in love with. Like a family member, the artwork on your wall will give you solace and comfort for a long time to come.
ABOUT THE AUTHOR
Roshini Vadehra is Director, Vadehra Art Gallery and Trustee, Foundation for Indian Contemporary Art
