Collecting Contemporary Art

I attended a lecture given by Naomi Arin that delves into the art of collecting art.
Arin gave examples from a New York Times article that broke down various investments one could have made in 1998 for 100,000 dollars and what they would be worth today. The obvious point is that art can be a good investment and the moral is that despite these hard “economic times [,] art remains the best and most enduring investment opportunity”.
Herb and Dorothy Vogel are the new poster child for collecting contemporary art on a dime. In case you have been living under a rock they are the couple from New York who devoted their lives and modest earnings to collecting contemporary art. They bought art for the love of art for over 45 years and because they were able to apparently, unconsciously, predict the trends in art their collection of more than 4,500 works now ranks among the best. The Vogel's collection includes works by such artist as Sol LeWitt, Donald Judd, Richard Tuttle and Steven Keister.


So the question remains how does one begin collecting art work that might appreciate in value. Some collectors begin their collections by permanently borrowing works of art from family. This seems like a natural process. Most art enthusiast realized art at an early age and one might hope that is watered and fertilized by one’s environment.
My personal opinion is that it is tacky to buy art just for the sake of investment appreciation. It’s like faking it when your time (and profit) would be better served coupling with something you feel passionate about. So the simple answer is buy what makes you happy. Happiness cannot come of true ignorance so the important lesson here is: educate yourself. Educate yourself on the style of art that draws you. Know it’s history and it’s predessessors. Know the artist[s] who coined the technique and know what has been tweeked in the contemporary artist whom you admire.
Once you enlighten yourself in these aspects take care to purchase the piece that will eventually be the most recognizable. Everyone wants to own an original piece or a limited print however there is a lot to be said for owning a piece of art work that can be recognized by a fellow art enthusiast as belonging to a particular artist.

If you can’t live without it then you should probably buy it.

1 comment:

Hill Country House Girl said...

Thanks for your visit to hill country house. I love art and am enjoying browsing through your blog. Lots of great information and photos to learn from....thanks!

Maybe You'll Enjoy These Too...

Related Posts Plugin for WordPress, Blogger...