How to make buying decisions for your art collection.
Art is an investment. In terms of expense, and real estate on your wall, not to mention personal style, and what your pieces say about you. There’s a lot to consider when you’re buying art.
I thought it would be helpful to write out a few things I encourage my clients to consider when making these buying decisions.
One of the most valuable aspects of my work with clients is developing their personalized strategy to collecting. Having a strategic approach that informs your overall collection is going to be essential when you’re decided whether or not to invest in a piece.
This strategy should be personalized, and intended to serve as your approach forever, but still completely flexible. You will adjust this strategy over the course of your lifetime, but set yourself up now as if you’re using this strategy to inform your lifelong collection.
Some things to keep in mind:
Budget is a not a strategy.
Lean on your values, priorities and aspirations in life to determine your strategy
Answer the question: What impact do you want your collection to have?
Always work towards balance in your collection when you are adding new works in, and adjust accordingly
What are your aspirations? Let the art you display guide you toward those aspirations day after day. That might be personal, aesthetic, mission-driven etc. Consider the impact you want your collection to have—on the artist, on you, on your guests, on social movements, etc.
Once your strategy is in place, throw it out. At least temporarily. Buying art happens in stages, and while having a strategy is really useful to help with decision paralysis and overwhelm, and absolutely saves you money and chaos down the road, it's equally important to get out of your head and rely on your gut reactions when finding art.
Develop a practice.
This practice should align with your personality and be something you want to engage in. It should help you drop into your intuition and reactions. Breathing, meditating, play, writing, intention setting… whatever works for you. Finding good art requires you to trust your gut reaction to a piece, even if it contradicts your initial strategy.
So, you have identified good art, tossed your strategy, and found a piece that resonates with you. You've had a gut reaction, activated your intuition, and applied your personalized practice.
Consider your existing pieces, the statement your collection conveys, and the logistical aspects of your space and budget. While, again, budget is not a strategy, it's definitely a factor to consider. And obviously you need to have space for the piece. If the piece aligns with your strategy, evokes a strong reaction, and fits logistically, go ahead and make the purchase.
If any of these elements are off, pause and examine your motives. Is external influence at play? Are you deciding out of fatigue and overwhelm? If so, I strongly advise you to hold off. It should be a hell yes on all levels.
Once the piece is acquired and beautifully installed, you get to make the shift from buying art, to actually being an art collector. You’ve already begun to curate a collection that reflects your unique vision and journey. Mazel. More on what that entails here.
Need a little more support?
I get it. Art is effing overwhelming to buy. I love working with clients to meet them exactly where they’re at and support this journey. Get in touch with me if you’d like to schedule a free consult to begin.
