Did you know that the global art market is worth more than $579 billion?
It’s clear that collecting art can be a lucrative business, but it’s also a fun hobby for many people as well. It’s understandable why some people feel too intimidated to start their art collection, but anyone can be successful with a bit of research.
Have you been wondering if you have what it takes to start collecting art? Read on so you can gather our top tips on how you can get the most out of this investment.
Learn About the Different Types of Art
If you’re new to collecting, then it’s worth taking some time to learn about what kind of art is out there. Painting, photographs, sculptures, and NFTs are just a few of the many types of pieces that you could own.
Exploring these options will help you figure out what you’d like to focus on in your unique collection.
Set a Budget for Collectible Art
Art can be as affordable or expensive as you want, depending on your preferences. Some investors like to focus on quality over quantity while others get joy from filling their homes with art.
This is why it’s helpful to set a budget before you start your journey so you can have healthy boundaries with yourself.
Research Various Art Collector Terms
Using resources like Insights to learn about blue chip art and other common terminology is a crucial step. Educating yourself will allow you to join these spaces without feeling intimidated or getting scammed.
If you ever don’t know certain phrases, ask someone for clarification or look them up on your smartphone.
Only Buy Pieces That You Love
It takes a lot of skill to look at a piece of art and determine if it’s a worthwhile investment. As a beginner, you should only buy pieces that you’re passionate about in case your investment doesn’t pan out the way you’d hoped.
This means that you can still enjoy the work even if it’s not as valuable as you’d like.
Always Get a Certificate of Authenticity
You should never purchase art if the piece doesn’t come with a certificate of authenticity.
This document is the only proof that you have that the piece is legitimate. You’ll need this to sell the art in the future.
Understand What the Upkeep Will Require
Deciding what to buy is one hurdle, but figuring out how to store each piece is a chore that beginner art investors don’t always consider.
You need to make sure that you have the time, space, and resources to keep the piece in top condition over the years.
Are You Ready to Start Collecting Art?
Collecting art can be an incredible hobby and investment. After reading about the steps you’ll need to take to get started, you can be confident that you’ll enjoy your new adventure.
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