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Art Collection Budget

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Art Collection Budget

You don’t have to be wealthy to start collecting original works of art. Especially works of art that matter to you! We’ve all read about art collectors that choose pieces based on how much they’ll appreciate in value over the years. You should be buying art because it moves you emotionally, it touches your soul and gives you some kind of fulfillment.

Let The Art Inspire You!

Collecting starts with “knowing what you like and what you can afford.” Research, and research! Look for artists that inspire and capture your imagination. Attend local art walks and fairs, you’ll find art for your collection, and make meaningful connections with local artists and galleries.

Make the most of your money

You don’t have to have millions of dollars to start building an art collection. But how you allocate your art collecting budget matters.
Let’s say you have $100 to buy art with. You have a decision to make here: Do you want to spend that money on several less expensive pieces or one to two more impressive ones? Choose quality over quantity, but what about covering the white space on your walls?

I once read a statement from an art dealer, “If you’re just looking to fill space to avoid visual boredom, that’s decorating, not collecting.”

Forget “Good Investment” Thoughts

With emerging artists who are still experimenting with their styles and working to grow their fan bases, it’s “impossible” to make such predictions.
There is one area where you can improve the chances the value of a piece will hold or increase. When you find artists you like, choose iconic pieces that best represent their body of work. For example, if a particular artist paints both nature scenes and portraits, but is best known for their paintings of mountains at sunset, a mountain painting would be the better buy.

Be choosy about your source And Set A Purchase Budget

It’s best to buy your art directly from the artists or a gallery. Either way, there’s a guarantee that the work is authentic. Establish an art collection budget, on a monthly basis, put way in a savings account a few dollars specifically for art. Based upon how large your budget grows, plan on purchasing at least (1) new piece each year. Of course this is all up to how fast you want to grow your collection and how much you spend on each piece. Creating an art collection budget may seem obvious. Sometimes we have to be reminded of the obvious. Setting aside a few dollars each month specifically targeted for collecting art, can and will grow!

What a wonderful feeling to know that not only are you collecting something of beauty. But you’re helping another human being grow in their potential and provide a living for their family, the artists!