Even if you have the money to buy art, that does not mean that you just go out to the market and buy just about every piece for sale. Even if you know the art scene inside out and there is a piece of art for sale by a reputable artist, it also does not mean that you just buy it blindly. So where should you go in order to buy the best art?
The most common place to start is of course at the galleries where the art dealers would be the so-called ‘experts’. This is where you will need to build a good relationship with them. It would not happen overnight which means it will take a long duration before you are regarded as a serious customer. Patience is the main key here. You will have to be in the mailing list of the gallery where you will be informed of any upcoming shows or exhibitions. Make a point to attend the shows so that you are seen and the gallery owner knows you. If you can, start with a cheaper piece of art where you will be part of the database.
One you have done that, you must follow up with the gallery where you need to make an appointment to meet the owner or the operator. This is the meeting where you can garner very important information about who they are promoting and what type of art is currently the ‘hot items’. If you are looking to invest in art, then it is very important that you make your interests known to them. This is because by doing so, they know what you are looking for and will be able to recommend accordingly.
Be aware that not every piece of art you buy will have its price ballooned in the next few years although there are some which would take a few years to do so. The galleries won’t be selling you anything which have no value but be wary of those who give you the ‘leftovers’. Being a business, there would surely be preferred customers which means that there are some collectors which are prioritized. Unless you have millions to spend, chances are you are not in the priority list, at least not in the first few years.
This means that despite the reputation of the gallery, you must also carry out your own background checks on them. Another common avenue to find whose art you should buy would be at group and award shows. This is where you will find that artists whose works are in the top prize winning categories and honourable mentions are those which the galleries would be targeting. You can then approach the artists directly or find out where their next shows would be. This is the best time to buy the art when they are affordable as some might be exceptionally famous in the next few years.
If you have the money, auctions would be a great place to find good art. If the auctioneer is very reputable (like Sotheby’s and Christie’s), then they will only pick the best works of a certain artist before putting them under the hammer. This avenue of course would be the most expensive way of buying art.
