3 actually helpful steps for your success when investing in art
Investing in art is gaining popularity worldwide. People who initially had nothing to do with art and art collections are seeing the value of having physical or digital art as an asset in their investment portfolio. It is tempting to give in to a trend without having a clear idea of what you're doing.
Grażyna Kulczyk is one of the leading art collectors in Eastern Europe and one of the richest women in Poland. Throughout the years Kulczyk has not only gathered an exquisite art collection, opened a conceptual “slow art” gallery in an alpine village in Switzerland — Susch, but also contributed to numerous social projects and initiatives. Her legal background fueled her fascination with so-called ‘scientific artists’, which has resulted in her collecting artworks by Buckminster Fuller, Loris Gréaud, and Olafur Eliasson.
Kulczyk is known as an incredibly successful investor, entrepreneur, art collector, and art patron who very early on spoke about art interconnecting with entrepreneurship and financial management. While not everyone can become the next Grażyna Kulczyk, everybody can tap into the art investment which oftentimes intertwines with collectorship. How?
- OBSERVE and surround yourself with information.
Kulczyk has always claimed to use intuition when making art purchases. But intuition doesn’t come naturally — usually, it comes with viewing a ton of art shows, gallery weekends, exhibitions, and art festivals. Intuition for the right art purchase doesn’t come overnight and requires a trained eye first and foremost.
What if you don’t feel like waiting? After all, art isn’t getting any cheaper by day.
Not to worry, start by attending a few nationally or internationally significant art events. If not possible, read about them so you can get an initial picture of what you personally like and dislike. Thorough introspection is essential to beginning your collecting journey. Ask yourself questions like:
- Local artists or international artists?
- Classical, modern, or contemporary art? What style am I drawn to?
- Vision: Why am I collecting?
I believe that Grażyna Kulczyk among many others who have become successful collectors, has become one precisely because she had a personal vision for her collectibles.
Pro-tip: Open yourself up to information: Subscribe to newsletters from sites like ArtTactic, ArtFacts, ArtAdvance, or even go a step further and adopt a habit of ordering yourself a physical art magazine. Contemporary Lynx, Artnews, Hue & Eye, or other magazines available in your area will do the trick.
2. CONSULT EXPERTS and actually take their advice.
One of the biggest mistakes novice art investors make is relying solely on their intuition. You’ll often hear from seasoned collectors that their taste in art changes over time, and some of the artworks they acquired in their youth are neither profitable nor useful today.
The general rule for a budding art collector is: if you don’t hate the artwork your art advisors are offering you, strongly consider it.
That’s why we advise you to take the time and effort to find experts you trust to help you with your first art collection purchases. The general rule for a budding art collector is: if you don’t absolutely hate the artwork your art advisors are offering you, strongly consider buying it.
It often takes a trained eye to spot the less eye-catching artworks that can bring you impressive investment returns.
Expert advice is especially important if you plan to purchase an NFT artwork.
3. LEARN THROUGH ACQUISITION: Just do it.
Once you have a feel for what you like and the advice of your art experts, you need to break the ice and acquire something. We recommend that you don’t buy something very expensive at first: Start small, but start accurate. A perfect way to make a safe art investment is to buy a fraction of a physical artwork or find an NFT collection that’s about to be released and has a low floor price.
Pro-Tip: Building your personal art collection mustn’t only be profitable, but fun and enjoyable. Pondering for months probably won’t help you make a decision. So if you feel like you’re almost there, you should just do it!
ArtAdvance offers a unique opportunity to start your investment journey by acquiring art in bits and pieces.
Curious? Learn more: www.artadvance.io
Kotryna Tribusinaite, 2021
©ArtAdvance
