Starting an art collection can seem daunting, especially when trying to watch your budget at the same time. The good news is that you don't need millions in the bank to start a collection and most collectors begin by buying artworks under £1,000.
HERE ARE 6 TIPS TO HELP START YOUR ART COLLECTION:
Before you start your collection, get to know what you like and what you don’t. Visit exhibitions, art fairs and auctions. Follow artists, critics and curators on social media. But know your own mind. Which styles, mediums and subjects are you drawn to? Instead of following trends, think about what artwork you want to live with and love.
1. LOOK FOR LOVE
Which styles, mediums and subjects are you drawn to?
2. START SMALL
Look out for recent graduates or artists just gaining recognition. With a budget around a thousand pounds or less, you could collect a small original painting by an emerging artist. Buying from an emerging artist means you'll probably be one of their first collectors. If you're lucky, it could turn into a great investment.
3. GO ONLINE
Online galleries allow you to easily compare artists, styles and prices. It’s often less daunting than asking for the price list at a gallery. The internet has made buying art more transparent and accessible, especially for new art collectors. If you’re on a budget, you can search by price.
4. COLLECT SIGNED LIMITED EDITIONS
If your budget is limited, limited edition prints are a great way to start your art collection. Signed editions have more value. And even more so when the artist grows in fame.
5. MINOR WORKS BY MAJOR ARTISTS
If you want to buy from a big name, it’s still possible. Look for a work on paper, such as a drawing or etching. Find an artwork which can be easily identified as by that artist. Look for characteristic symbols. For example, a drawing of a shark by Damien Hirst recently made £4,500 at auction because it’s the subject that first brought him fame.
6. PAY IN INSTALMENTS
If you fall in love with a painting which costs more than you can afford straight away, many galleries and online platforms such as Own Art will allow you to spread the payments over time. An original painting worth several thousand pounds could be paid for over a couple of years.