Sunday, October 9, 2011

Art Collecting - What to know about collecting art...

Many people who like art but are not artists themselves may be interested in learning something more about collecting art. However, there are so many different types of art that it is almost impossible for them to figure out what to decide upon. What is good value? What will be worth investing in....? Basically there are four steps in the progress of all artists who become widely famous and sought after. Here I will run through them briefly. I might hopefully be at step one. Most artists never get beyond one or two of these steps.

Four stages in the development of a Great Artist and Investing Tips.

1. Recognition by the Artists Peers.

The first step is recognition by other artists, that the artist is above average in technical ability when compared to the majority of artists. Some artists manage to skip this step by being well-known to start from another walk of life, but it will mean that they will not stand the test of time, as in beyond their lifetimes, in terms of being a "great" artist.

2. Critics begin to explain the Artists motivations to a wider audience.

This is the step where the artist can begin to increase prices of the work, if this occurs while they are still alive!! and begins to garner a wider audience. Buying artists work in the hope of a profit at this stage is the best time in their career, but is risky. If it pays off, it will be well worth it.

3. Art dealers becoming interested in the Artists work

This is an important step forward and means a secure future for the artist. Dealers will buy typically at wholesale prices to sell on for a profit. Buying from them will not result in a profit for the investor in the short term. It is better to have found the artist before this stage takes off, as in step 2. However, there-in lies the difficulty. Who will make it to step 3?

4.The wider public recognise the greatness of the Artist.

The final step, and one that is usually achieved when a large body of good work has been created. Most artists will never reach this step. At this level prices will be out of reach for most investors.

Anyway - hope you enjoyed this brief article. I will write more about this topic soon, as there is a lot more to know about art collecting. Jim

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