Starting Your Own Contemporary Art Collection

From guest blogger Stephanie writing for the Enid Hutt Gallery.

For those who feel that they are not sufficiently knowledgeable about the art world, starting a personal collection of contemporary art may seem a little intimidating and potentially expensive. However, contemporary art exists be appreciated and enjoyed by everyone and is more affordable than you might expect. If you are thinking about starting a contemporary art collection of your own, here are five top tips to help you take those exciting first steps!

1. Follow your heart

It’s a simple and obvious rule, but you should collect contemporary artworks that you actually like. There’s no point in buying an artwork that you don’t admire and wouldn’t put on display, but feel you should own because it’s part of a currently favoured trend or because there’s a slim chance that it may become immensely valuable at some unspecified point in the future.

2. Champion new talent

The Tracy Emins and Damien Hirsts of this world all had to start somewhere, and their early works have become immensely collectible and valuable. Look out for new artists whose contemporary artworks appeal to you, who you believe have genuine talent and who produce artworks that are unique and create an impact. The benefit of collecting contemporary art by an unknown up-and-coming artist is that it will be less expensive than work by an established artist and – who knows? – if your artist hits the big time one day the art you have purchased could enjoy a significant increase in value.

3. Don’t worry about buying the most expensive contemporary art

You don’t have to buy expensive original paintings in order to begin your own contemporary art collection. Some artists produce multiple copies of original contemporary artwork which may result in a lower price than if just one original existed. Limited run original prints will also be less expensive than original paintings, but ensure that any prints that you buy have been signed by the artist as this adds to their value and collectability. Take care when investing in framed prints and if possible ask to see the print out of its frame before purchase to ensure that there are no concealed marks or tears in the print and that the artist’s signature is genuine and not also printed.

4. Be daring in your subject choices

From pickled sharks to unmade beds and bejewelled skulls to life-sized mirrored sculptures of Dr Who’s TARDIS, the works of contemporary art that tend to be the most talked about are those which challenge our conceptions of art and which urge us to look more closely at the artist’s motivation and the message they are trying to convey. Do you wish your contemporary art merely to be aesthetically pleasing or are you willing to let your investment engage, puzzle, unsettle and stimulate conversation when you or others stop to appreciate it?

5. The provenance is as important as the artwork itself

The provenance of a contemporary artwork is its life history following completion. Clearly a contemporary artwork will not have as great a provenance as an Old Master, but nevertheless it is part of the artwork’s value. Sales receipts, certificates of authenticity and other documentation associated with an artwork all form its provenance and all should become your property and be kept safely when you purchase an original contemporary artwork.

The Enid Hutt Gallery sells a wide range of contemporary art by artists such as Alexander Millar.

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Copyright 2012 Enid Hutt Gallery

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