DIVA - Start your art collection

HOW TO START YOUR ART COLLECTION

“Art enables us to find ourselves and lose ourselves at the same time.” – Thomas Merton

I love art and how it feeds the soul…and how it allows ourselves to lose and find ourselves. I started small with my art collection and that one darling piece has given me so much life. It has survived marriages, moving homes and other milestones of life. My art makes me super happy and it got me hooked on getting more.

Getting started with your art collection doesn’t have to be a stuffy task where you find yourself at Sotheby’s, paddle in hand, ascot at the neck. Unless that’s what you’ve always wanted to do! It can be about browsing a local art fair during a relaxing spring weekend—in Spain or in your own neighborhood—where you casually browse the works of a variety of artists set up in tents!

Like any Diva project, you need to examine your art goals. Do you want to begin collecting an up-and-coming artist who is expected to have some value attached to her work in the near future? Meaning, are you collecting for future wealth and value? If you are, great. Get your research on, and start perusing the trades and galleries to see who they’re showing and who they are buzzing about. Be on the lookout for what you want in contemporary, modern, fine art and beyond. Set your sights on a favorite piece and be overjoyed when the time comes for you to buy it.

If you are investing in art for wealth, which I suggest, look at your budget and start creating a fund for your art. If needed, check into art lending platforms which help collectors get started.

Maybe your goal is simply to make an active move from art lover to art buyer. If you do want an auction seat, watch what Sotheby’s or Christie’s has coming. Here are some Collecting Guides and what to do at an auction for first-timer’s. Also watch for curated art events like Art Basel Hong Kong and Miami; or The Armory Show held recently in New York at Piers 92 & 94 where you can be both a lover and a buyer.

Has your art goal been to have a commissioned piece? C’art’e Diem! Perhaps your summer home has always been screaming for a six-foot multi-paneled piece. Now is the time to get started on showing that space some love. While you’re out and about at offices or functions or friend’s homes, take note of art you like. Find out who did it and get you one!

Once your piece finally makes it home, remember to update your insurance policies – STAT!

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