Visual Language Magazine Contemporary Fine Art March 2014 Vol 3 No 3

VL Hall Groat II
Lessons in Collecting Art
Art Collecting Tips
By Hall Groat Sr.
IMPORTANT LESSONS IN COLLECTING ART
Entry level stock investors may not have the funds to buy the blue chips, Therefore,
they must wait for the market dip to build a portfolio that may grow. Buy
low and sell high takes patience although the bottom is illusive and the risks are
always there in a volatile economy. Lets talk about taking a different tack and a
way of elevating your lifestyle while still building equity.
COLLECTING ART 101
Buying direct from an established artist is always better than dealing with a gallery.
Artists are generally fair minded people and more accessible than you think.
If you have little to spend and only buy unframed work you may receive a much
better price and not end up with a glut of framed work and no way to store it. If
you pay a gallery commission of 40 to 50% you will limit your ability to enjoy a
profit down the line. Buy low and sell high in art- is smart business!
COLLECT ORIGINAL ART ONLY
Avoid buying any art referred to as an original reproduction. This is double talk
and you will be stuck with a worthless investment regardless of what you may be
told by a dealer.
BE A SOPHISTICATED COLLECTOR
Study everything about each artist you collect and build a file tracking their shows
and market activity. Obviously, names mean everything. Its much easier to resell
an artists work with international name recognition than a pretty picture by your
aunt Minnie- who won a prize on a clothesline sale in Peoria.
DONT PLASTER YOUR WALLS WITH ART
Wall to wall paintings do not mean you are an art collector. It means you are a
dust collector. Nothing worse than a glut of unorganized stuff when you have no
idea of origin or value. The best idea for a serious collector is to build a storage
rack in a dry place in your home. Label each piece of art so it will be accessible.
HallGroat.com
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