You wouldn’t be the only one to have such thinking about art collection. Many think that collecting art is similar to speculation. You purchase a piece when you spot a budding artist. This will probably be at an affordable price. Once the artist makes it big, you enter the chat all smiles and holding one of his earliest pieces. From there, you are smiling at the bank with a big, fat cheque.
In most cases, the price of a piece of art will depend on the brand of the artist. Artists whose work is at the center of every post online and conversation will be highly-priced. But as a collector, is there something you can do to influence the value of art in your collection?
Well, why not keep reading and find out?
This is all about helping a promising young artist on his or her way to stardom. In tandem, the value of a said artist is bound to increase significantly. This method is not novel in any way. Charles Saatchi is a renowned art collector, lover, and patron. He guided some young artists at Goldsmiths College. The same students grew in name and brand and were later known by their established moniker, Young British Artists.
And guess who had bought some of their art earlier? Well, you guessed it. Using his gallery, he made the group grow throughout Britain and also across Europe.
An example of this is set by famous art enthusiasts Poju and Anita Zabludowicz. On an island in Finland, the couple organizes a residency for emerging artists. Residence programs aim to help the artists develop or better their skills. This breeds a competitive spirit where young artists can challenge themselves and find their true selves.
As an art collector, your galleries and venues could be the best place to raise publicity about some pieces of art. As interest increases on the particular artwork, buyers will start considering purchasing the items. Simply let the economics of demand and supply take over and watch the value of your collection rise.
Lending art to institutions and museums
To maintain the interest of their patrons, it is a common practice for museums to borrow art from collectors. This keeps their exhibitions and galleries fresh and with novel art ideas. This could be the next best thing that can happen to your collection. Showcasing the artist’s works could lead to a positive response from the art community.
This has everything to do with the efforts of the art collector. Any purchaser will be interested in the condition of a piece of art. Art collectors need to keep abreast of preservation methods and equipment that would help retain and increase the value of their collection. This means that collectors require a constant outflow of cash for the preservation of their art. They should also think about insurance coverage.