Buying Fine Art - 7 tips for beginners
Pink on the Street, oil, 24x24”, available.
Do you yearn for something beautiful for your wall that is a step up from your usual fare? Or did something catch your eye at an art gallery but you’re not sure about making your first purchase of fine art?
You might be wondering: will it be right for me? Will I love it for years? Is this too much to pay?
Here are my 7 tips for purchasing fine art with confidence.
1. Where should I start?
Buying fine art starts with you and what you like.
If you’re a novice, you may only have a vague idea of what kind of artwork you like and what will look well in your home. The best way to narrow down your criteria is to do some browsing.
Art galleries, art festivals, group shows, and online galleries are all good places to begin. Take the opportunity to compare different works and note your reaction. What feelings does the piece evoke in you: excitement, curiosity, calm, energy, delight? Imagine how it would feel to have it in your house and view it every day. Look at lots of work and allow your inner voice to guide your evaluation.
Brick-and-mortar art gallery are perfect for newbie art collectors because gallerists are very knowledgeable about their artists and can tell you about their artistic vision, process, and experience. This information is invaluable in understanding more fully the artwork that you are considering. At an art festival you have the opportunity to meet the artist in person, see a large selection of their work, and learn about the inspiration for each piece.
One advantage of online galleries is that you can browse many artists and see a huge range of work. You are able to sort by type of work (abstract, landscape, portrait, etc.) as well as style (impressionistic, realistic, pop art, cubism, etc.). Often they also have software that will allow you to see the artwork on your wall from an uploaded photo.
What Shall We Do Today and Hot Sun, Cold Water, both oil, 16x16”.
2. Should I purchase original art or prints?
Now that you’ve narrowed down your art style preferences you may be tempted to purchase a print instead of original artwork, thinking that prints look pretty much like the original and are significantly less. I feel that prints have their place, but they are no substitute for fine art. An original work of art, handmade by the artist, has an authentic quality that can’t be duplicated.
To learn more about why original art is worth the price, and when buying prints makes sense read my 6 Reasons to Buy Original Art.
3. How do artists set their prices?
Once you’ve narrowed your choices down to a few favorites, it’s time to consider the price. You’re probably wondering how artists decide how much to charge. Artwork prices are based on many factors; the size of the piece, the artist’s experience, how much time their process takes, what their previous work has sold for, and prices of similar work by other artists.
Most artists have a set price for each of their standard sizes. They raise the price of new work over time as they become more accomplished and develop a collector base.
4. Can I ask for a discount when buying fine art?
Often artists and galleries are willing to give a discount on the purchase of multiple pieces of art. And some will provide a slight discount on a single large work if requested.
But please know that few artists or galleries outside of the art world stratosphere are getting rich selling artwork. Buying fine art is not about getting a great deal. It’s about paying a fair price for the artist’s work as well as that of the gallery: paying rent, exhibition costs, promotion expenses, supply costs, and all the behind-the-scenes expenses of an art business.
Consider instead that buying fine art involves you in the artist’s creative process and allows you to support all their activities — creative and prosaic — that result in that inspiring piece of artwork that you will enjoy for many years.
5. How can I be sure I’m not paying too much?
Since each artist’s work is unique and they set their own prices, the question really is, what is the artwork worth to you? How much do you love it? How much will it enhance your home and your life? Is it within your budget? How does it compare to other pieces you are considering?
Generally I encourage you to buy only what you can afford so that you can continue to be an art collector for many years to come. On the other hand, I’m all for stretching your budget a bit for something that really speaks to you.
Montparnasse Metro, oil, 36x36”.
6. Will my art appreciate?
While living with art that you love is a priceless experience, I don’t recommend acquiring art as an investment. As all artists know, the art world is unpredictable to the extreme, and no one work is guaranteed to appreciate. As long as you are enjoying seeing your artwork daily — and sharing it with your friends — the price that someone else would pay for it at any given moment is irrelevant.
7. How can I make the experience of acquiring art even better?
First, hang your new treasure where it can be enjoyed in your home and will complement your decor. Read my Tips for Decorating With Artwork for ways to make your artwork the centerpiece of a room.
Buying art can be so much more than just a purchase. It can be about developing a relationship with the artist and following their career. Attending events, connecting on social media, blogs, and in person allows you to learn about their process, approach, and inspiration, which will deepen your appreciation for your artwork and increase your artistic knowledge. One way to do this is to sign up for their newsletter and follow them on social media. I’d love to connect with you though my newsletter and Instagram.
Most artists truly value their collectors and are delighted to include you in their artistic journey. Living vicariously the life of an artist is part of the fun of collecting art!
