- Collectible Art and What You Need To Know About
- May 28, 2020
by Virtosu Art GalleryMay 28, 2020
Collectible Art and What You Need To Know About
What is Collectible Art?Technically, collectible art is any form of art that is rare or popular. With time, the value of a collectible will rise. Collectible art could be a painting, sculpture, print, a drawing, or even a sketchbook. That said, what is collectible depends on your goal. If you are collecting for financial gain, then investment art pieces are key. If you are collecting because you love a certain artist or art movement, then key artists and styles are your investment.
Who Collects Art?Some people will have you believe that collectibles are for the rich and elite. This is not so. Anyone can collect art, and people from all walks of life do. The wonderful thing about art is that there is something for most budgets. If your budget is smaller and you are serious about creating a collection over your lifetime, then it would be pertinent to you to save money between purchase or pool resources with a loved one and do your research to buy wisely.
How Will You Know What Art You Should Buy?First of all, avoid being sucked into the idea that you should always look for the next ‘big thing.’ You may stumble upon a reasonably priced piece by an up and coming artist that may or may not worth a lot in the future. However, it is risky. Keep in mind that popularity can wane with the seasons. This is why I say collect only what you are passionate about. If you happen to buy a painting or sculpture that does not become collectible, you will be stuck with it. Better to have something you like enough to display proudly in your home or office than have it stuck in the back of a storage unit. Research is a must. Watch the auction sites and web gallery sites for what is selling well and what is not. Look for patterns of unlikely purchases that could signal experienced investors to buy up what they know will be good future investments. My second rule of art collecting is to keep an open mind and your eyes open. For anyone looking to turn an art collection into more than a casual hobby, look online for courses that teach about art and antiquities. There are free courses available, but if you are serious, consider investing in your learning before you invest in art.
Examples Of Collectible ArtSometimes the collectible is not apparent. For example, UK artist Anthony Gormely is known for his lifesize iron sculptures of men cast on his own body no less, which might be financially and physically challenging for you to add to your collection. However, a smart investment would be in one of his working sketches. An excellent example of a famous collectible artist that I would be remiss not to mention here is Van Gogh. A good example because, in his lifetime, he was not recognized or popular. He only ever sold one painting, The Red Vineyard (cruelly this was only months before his death at the tender age of 37). This painting sold for 400 francs. Fast forward 100 years to 1990, and another of his works entitled Dr. Gachet, went for a staggering $148.6 million.
Where To Find Collectible ArtTechnology has made art more accessible to the masses. Where once auctions were closed or invite-only, now it is possible to log in online to watch and bid in the proceedings online. To begin with, be a spectator only. Learn how things are done and what is coming in and out of the auctions. Become familiar with web galleries and learn about the collections they generally display to learn which ones have the art you like most. Keep your eyes open everywhere you go for the types of art collectibles you want. Whether you are traveling for work or on vacation, take an hour or two to check out the local galleries. You never know who or what you might find. Likewise, thrift stores and flea markets, also yard sales sometimes - on rare occasions - have an art piece or two worthies of investment show up. Remember, collect what you love and keep your mind and eyes open.
About author Michael Dehoyos is an art critic and editor at the PhD Kingdom. He sometimes assists people in researching collectibles and contributes to numerous sites and publications.