10 Do’s and Don’ts to Become a Successful Indian Art Collector
By Meher Kalra | Published on Jul 29, 2021 | in Collectors Corner
Do you want to be a successful art collector? If so, then this blog post is for you! This blog post will discuss 10 do’s and don’ts that will help you become a successful art collector. We’ll cover all the basics of finding good pieces of art, what to look out for when buying, and other tips. Ready to take your collection to the next level? Let’s get started!
Do’s To Become a Successful Art Collector
1) Look for pieces of art that you like
The first piece of advice is to look for pieces of art that you like. It’s the best way to start your collection because it’ll be a lot more enjoyable. You can get lost in any gallery and find something beautiful, but sometimes there are those specific pieces where you feel an instant connection. If you find one, don’t be afraid to buy it!
2) Figure out what type of art is important to you and focus on that in collecting it.
3) Set a budget.
Determine how much money you want to spend on art and stick to it when buying pieces. If you only have $500, don’t buy anything that costs more than that unless you’re willing to pay the difference or wait until the next time.
4) Buying in bulk is also a great way to save money and get a larger variety of art pieces.
5) Buying from galleries is usually more expensive than buying on the secondary market, so be sure to compare prices before you buy. But the authentication from a gallery is better than in the secondary market.
6) Always check the artist’s CV.
A list of exhibitions and publications can be found on their website or on the gallery website as well as photos of recent work in progress to see how they’re developing over time.
A CV also includes a list of past exhibitions and prices, giving you an idea about whether the price is reasonable for that artist’s work.
7) Do buy Indian art in your style. It’s not just about what the experts think, but rather what you feel an emotional connection with.
8) Do read as many books and articles on art collecting and buying online art.
9) Do build a relationship with an expert, like an appraiser, gallerist or curator. They can offer advice about what you should buy now to increase the value of your collection in the future.
10) Make sure to collect the provenance of the artwork when buying an artwork of a non-living artist.
K. S. Radhakrishnan, Fireflies of the Derelict Well, 60 x 37 x 43 inches, Bronze, 2011
Don’ts To Become a Successful Art Collector
1) Don’t buy work that you can’t afford – it’s better to invest in an artist who will make money for years than one where all your money is gone.
2) Don’t take a risk on an emerging talent if you’re not confident they’ll be successful.
3) Don’t buy anything without knowing exactly what the price and quality of the work is.
4) Don’t buy work that you like just because it’s pretty – find an artist who represents your taste and style.
5) Don’t buy art just because it’s cheap.
It doesn’t mean that you can only collect expensive work. But if a piece is at the top of your budget, think about what other things you could spend that money on and how much joy they will bring to someone who remembers them when they are gone.
6) Don’t just follow trends if you want your collection to be meaningful and last for a long time.
7) Don’t buy art that you don’t like.
8) Don’t do it alone- You’re probably not going to be able to start a collection on your own, so find someone who has been collecting for years and can help guide you through the process of establishing your collection. They will also have advice about where to purchase artwork.
9) Don’t just think that it is time for another purchase because you have bought one artwork. Patience is important when it comes to building a valuable collection.
10) Don’t be afraid to ask questions. The more informed you are, and the better your understanding of what you’re buying.
Manu Parekh, Evening light, 60 x 60 inches, Oil on canvas, 2012
Conclusion
Start collecting the art; you will learn so much about the industry and spot a good piece of art. It will be an awesome experience. Having learned about the 10 things you should do and 10 more things you need to avoid for your collection to grow into something truly valuable, be sure it will be a successful venture.
Paresh Maity, The Melody, 60 x 60 inches, Oil and acrylic on canvas, 2007
Jayasri Burman, Parivar, 36 x 48 inches, Watercolour, pen and ink on board, 2020