How To Buy Your First Piece of Art?
Published 28 Jun 2016 by Chua Tian Li
The art world may seem intimidating at first sight but it is not as difficult as it seems. According to lawyer, collector and art expert, Peter Hort, purchasing art is “really about educating yourself, setting and sticking to your budget.” Here are four essential questions you can ask before purchasing a piece of work.
What is my degree of likeness towards this piece of work?
It is really important to buy what you like. All you have to do is figure out if you can afford it, and if the price is something that you think is worth the passion you have, go for it!
What is my budget?
Set a budget in mind but be prepared to stretch it! The piece of work that you have set your eyes upon may be a little out of your budget but trust your inclinations and go for the purchase.
How much do I know about the artist or artwork?
It is all about doing your homework. Do your research beforehand about the artist and his works. Familiarise yourself with some art history by reading up about artistic styles and movements online. Enhance the experience of researching by going to museums, art galleries and talking to art collectors. The CVs of artists matter!
Who can I approach if I am interested in a piece of artwork?
Do not hesitate to approach galleries and art consultants before buying a piece of work. They are the experts in this area and would be able to provide good recommendations and advices to the works that you are interested in.
Buying art may or may not lead to investments in the long run, but the underlying reason why most people buy art is simply due to a love for art. Follow your instincts! You would want make sure that you are going home with something that you will continue to enjoy for years to come. Buying art is also a lifelong process, you do not simply stop at the first piece of artwork. Be well-researched, talk to galleries and art consultants and be ready to purchase your first piece of art.