PERHAPS the sooner we accept it, the better: We live in an era of record-breaking prices for art. These stratospheric valuations inflate the public perception that art is indeed the world’s costliest luxury product, with single pieces worth more than what the vast majority of humans will earn in a lifetime. These objects have become precious and must be acquired, turning the brave and the few who are willing to hunt into the species called art collector.
Though collecting art is a stimulating way to engage with one’s culture through venturing into realms hitherto unknown, collecting can also seem intimidating for many people. But the aspirational rewards abound. Simply put, it’s a way to put your money where your mouth is. From enjoying the thrill of the hunt and the pleasure of having inspirational conversations with artists and other art lovers, plunging into the art world is often its own reward.
While a decent art collection doesn’t need to be limited by income, there are no shortcuts to becoming successful. However, the road getting there is an adventurous one fraught with peril. Beware: Here are three mistakes that will kill the art collector.
BUYING WITH YOUR EYES ONLY
While it is good to hone one’s eyes in the search for quality, some days a visit to galleries can make you wonder why you bother. Art and its value are relative; they are social constructs whose realities are a flux of what we term as social truths. In this regard, don’t buy with your eyes only. A single person doesn’t hold the key to a social truth. Use your ears to judge whether others see a potential for the object. The truth is social.
However, this doesn’t mean that you buy with your ears only. Don’t buy just because you’ve heard the artist is good. Instead, buy with both your eyes and your ears.
MISTAKING CELEBRITY FOR QUALITY
Don’t let the glare of flashbulbs surrounding an artist excite you. Some artists go the celebrity route to achieve fame, and there’s nothing wrong with that.
However, buying celebrity is different from buying quality. Celebrity is often made up of hype which can be produced through the right public relations campaign, while quality is an altogether different matter that takes into account originality of concept, its execution and how much the art object is revolutionary in the eyes of society. Also, not everything an artist makes is their best work, and often when an artist is hyped, this makes buying their second-rate works a must-do. Beware.
BELIEVING THE PAST
In the 1960s, Salvador Dali was an auction and art collector favorite, but not anymore. In the late 1980s, Japanese buyers were acquiring second-rate works from the French Impressionists which later became a struggle to unload. Times change and also current favorites. The past is not the sole determinant of what is to come. Therefore, collect for the future.
Buying the work of an emerging artist enables their dreams to become a reality. Meanwhile, the art collector acquires a delightful artwork to live with forever. Now that’s what we call a great deal. n
Image credits: Illustration: Shawn Hoke