Ten Steps to Purchase Contemporary Art
January 4, 2012
People need a realistic approach when they shop to buy contemporary art. Prices can be exorbitant and it is important to have some knowledge and some discipline before shopping or negotiating a price or a commission for various works of art. Everyone wants good decor at home and in the office; this is a good reason to buy original art. The other reason for selecting original art works is that they may increase in value, rather than decrease, in the way a new automobile’s value can decrease. The main reason to buy modern contemporary art is that it is an original and one of a kind piece of art – not an overpriced limited edition poster in an overpriced matte and an overpriced frame. Even large corporate art buyers must consider price when shopping for new acquisitions. Corporate art collections may express interest in one or another kind of art. This is because the corporation is following the ideas of the executives or committees involved in the collection just as an individual might have certain interest areas in buying.
The best part of buying modern art is that contemporary artists are still producing collectible works that reflect our modern world. These artists are much more affordable than the masters of past ages. And modern art can be found in
many more styles than older works. Even corporations want quality art for the best price available. You can use the
same valuable methods to purchase art as the experienced art buyers with this list of ten steps to buy art – purchase
from contemporary artists. Here are the ten steps.
1) Do a serious search of available art in local and regional galleries. Talk to gallerists, try to meet the artists who exhibit there, talk to other collectors. This provides you with lots of basic information as you begin to shop for your purchase of contemporary art.
2) Visit the library to view print and microform holdings on contemporary art. Note the names of the modern artists that you are attracted to. What media do they use? Just search until you begin to see the kind of work that holds your
interest.
3) Conduct searches on the internet. Search for artist websites, search by medium or style of art you enjoy. You will find some good websites on the search results pages that will provide a wealth of information and variety.
4) Family and friends can offer opinion that may help your decision-making process about art for the home. You can ask associates and neighboring businesses for ideas on sources to make your shopping easier.
5) Attend auctions to find good prices on the kind of art that suits your decor and other needs. Concern with size, color, general feeling tone of the art is an important consideration, as is price.
6) When you have found three or four artists who have works that are within your price range you should contact them personally. Some artists with contractual arrangements will refer you to a broker or gallery that handles their business. If you are referred to a broker or gallery then these paintings and sculptures will cost considerably more, sometimes 300 to 400% more, because the broker or gallery must pay overhead and make a substantial profit. Try to talk to the artist.
7) Once you have contacted the artist just let the artist know that you are interested in purchasing some of their original paintings, not giclee’s or copies. Offer to negotiate for more than one piece of art, or to purchase more than one painting or to try to commission a painting by size, color or subject matter.
8) If the artist has a website this can be handled by email. You may want to see the artist’s works and talk to the artist in person before buying anything – and that is a good idea. If you see works that you like mention them. Websites should show the title and media of the painting as well as size and price.
9) If you see prices that you like then you will have no problem buying these unique, original paintings. However, prices can be negotiated downward, especially for buying more than one painting.
10) You can request and usually get a discount, but don’t expect to get anything much over 50% off. There are reasons for this. First of all art materials and supplies are very expensive in recent years. Frames have gone up astronomically, so gallery wrapping the canvas is usually less expensive, yet even the very most expensive galleries sell gallery wrapped paintings. Also the artist must store the art and advertise it among many other expenses.
There you have ten steps to purchase contemporary art. Good luck in your search and may you fully enjoy the discovery process as much as the art that you buy.
- Brad Bannister
