What does it take to get started in the art market and start investing, even modestly, as a collector - even if just out of curiosity or to understand the inner workings of the industry? The art industry has become a market with a lot of growth potential as a result of the pandemic, since art as a financial product is much less volatile.
We spoke to expert María Gracia de Pedro, director of the Badr El Jundi gallery, as well as art experts at the Waterside Contemporary gallery in London, the Italian Francesco Pantaleone Arte Contemporanea, located in Palermo, and the Spanish Josédela Fuente gallery from Santander, Gracia de Pedro, who revealed the most important mistakes to avoid when starting out as art collectors or investors.
The art market has a few characteristics that must be known before dabbling in these type of goods, as he points out. “One of the fundamental aspects when investing is that the speculator chooses a work that he likes. In doing this, you will receive much more than just financial gain: The emotional bonus, the enjoyment of the work ”. Based on this, these are the five keys he recommends we keep in mind:
1. Connection (love at first sight)
There must be a connection with the work of art, either by the technique that the artist has used, the theme he has chosen or other information that complements the artistic work.
2. Browse around (and do your research)
It is essential to visit exhibitions (both physical and online ), read about art and find out about prices and quotes of young and established artists. This is how the evolution of the prices of works of art will be understood.
3. Call an expert
It is a good idea to find out from professionals in the sector who the current artists are and what the trends are. "The ideal is to start with personalised advice to receive advice on where to go to make purchases and know how to manage the start of the collection," explains Gracia de Pedro.
4. Understand that there are two markets to buy
It should be noted that the market for art galleries and artists' studios is not part of the market for auction houses.
5. Know where to shop online
Currently, and especially as a result of the inability to travel, many people have been inclined to purchase art online. In this case, platforms such as Artland , Artnet or Artsy are the best known. The La Pera Projects platform also provides advice and allows the acquisition of works of art. It’s important to find reputable art sites.
This originally appeared on Architectural Digest Spain.
