How To Start an Art Collection
One of the most frequently asked questions we receive as an emerging art gallery is “How do I start collecting art?” In this post, we will address this common question head-on, but in short, buy what you love. We can say with confidence, the most fulfilling, unique, and prolific art collections all begin with the tastes of the collector.
Living room decorated by Madeline Stuart, featuring artworks by Frank Stella, Brice Marden, and Claes Oldenburg. Photo by Trevor Tondro. Galerie Magazine.
How to Choose Artwork for Your Home
Your art collection should be a reflection of your tastes and preferences, however, identifying these can be a daunting and time-consuming process. Luckily, there are a few different ways to go about educating yourself on art.
One option commonly used by new collectors is to hire a private art advisor. This is someone who is trained to navigate the art world and increase the volume of art a new collector is exposed to. The art advisor can bring their client to art fairs and gallery openings, guiding their viewing experience while taking notes to identify the client’s tastes. Simultaneously, the advisor will take into account budget, market trends, and art historical context to help build an emerging art collection with the potential to become a financial investment.
The art collection of Alicia Keys and Swizz Beats is an excellent example of two new collectors working with an art advisor to learn about what they love, fine-tune their taste, and create a financial investment in art over time. Beginning with an interest in African-American art, the pair developed their taste by working with art advisor Nicola Vassell to curate a beautiful and culturally significant collection. Over time, the pair realized their taste for contemporary and emerging African-American art specifically, and became mega collectors amassing over 1,000 works by young, living artists like Kehinde Wiley, Jeffrey Gibson, Gordon Parks, Reginald Sylvester II, Lorna Simpson, Derrick Adams, Mickalene Thomas, and Nina Chanel Abney.
Special commission by Alicia Keys and Kasseem “Swizz Beatz” Dean. Woman and Man in Grayscale, 2017, Derrick Adams.
Keys and Swizz Beat’s early and consistent patronage of these young talents boosted their art production, exposure to the market, and increased demand for their work – all resulting in a domino effect that added incredible value to the artwork over time. Keys and Swizz Beats collection – referred to formally as The Dean Collection – is now worth hundreds of millions of dollars and serves as a benchmark for collecting emerging African American art today.
Alicia Keys and Kasseem "Swizz Beatz" Dean photographed in their home in Englewood, New Jersey. Dana Scruggs for ARTnews.
This is not to say that early in their process – or in any collector’s process – the thought of art as an investment should solely drive the collection. By following their instinct and defining their taste, however, the collection took on a life of its own – through long-term support of emerging artists the financial benefits are palpable.
If you are not Alicia Keys and Swizz Beats and do not have the budget to hire an advisor, you can still approach the learning process on your own. Start by immersing yourself in your local art scene and attending art events at galleries and museums. While at these events, be sure to ask a lot of questions and follow up if needed. Tune in to what draws your attention most, and enjoy the process. While the self-starter approach may seem less glamorous than working with an art advisor, it has equal potential to create a collection of art that reflects your personal style and blossom over time.
Starting an Art Collection
One of the best examples of self-starting collectors is Herbert and Dorothy Vogel. In the mid-twentieth century, the Vogels discovered their taste by visiting museums, taking art classes, and attending gallery openings. They collected pieces they loved, which mostly consisted of minimalist and conceptual art by emerging artists in New York City at the time. By immersing themselves in the art scene, they eventually amassed a collection of nearly 5,000 works by Sol Lewitt, Gene Davis, Pat Steir, and more - artists that are now considered blue-chip and sell for hundreds of thousands, if not millions of dollars on the market.
Herbert and Dorothy Vogel, Fine Line Media.
Like the Vogels, anyone can strategically immerse themselves in their local art community to amass a valuable and personal collection. By working closely with emerging art galleries, supporting their programs, and investing in emerging art, you increase the likelihood that young artists will continue production and increase in value with each exhibition over time. Through this approach, consistency and networking are vital and also enrich the collecting experience exponentially.
Interior Decoration by Steven Gambrel featuring artwork by Helen Frankenthaler. Galerie Magazine.
Investing in Emerging Art
Whether you’re looking to collect artwork you can sell in the future or simply surround yourself with meaningful pieces, emerging art is the place to begin. Avoid chasing trends and enjoy taking time to do research, work with gallerists, and build relationships with artists. Put care and effort into collecting so your collection might take on a life of its own. If you're interested in investing in emerging art, contact Alanna Miller for a free consultation to get started on your art collection today!