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The Rules For Safe Art Collecting

We don't usually to view art collecting as a particularly risky pastime. Unlike skydiving or parasailing, the danger of injury in art collecting is relatively small. So should we have some basic rules of safety for art collecting as well?Yes, we must have some guidelines because there are two great risks we face if our venture into art collection goes badly. The first risk is financial. Certainly much of the time you invest in art collecting goes into studying great art and learning about the genre. But buying that piece of fine art to own and display with pride as part of your collection is the final step of the process. So the money you invest in your collection is at risk if your investments are not good ones.The second risk in art collecting is the risk to your love of art. If you have a bad art deal affect your love of your avocation in art collecting, it can not only damage what is one of the great passions of your life, it could even hurt your love of the art world. So it behooves us to lay down some simple guidelines to assure your career in art collecting is long and fulfilling.- Examine your motivations. There are good and bad reasons for getting into art collecting. If you are interested in the hobby because of the financial reward or because you will gain stature socially for your art collection, these are not good reasons. Both financial and social reward and recognition are fickle goals to be sure. But if your motivation for art collecting is to deepen your love and enjoyment of fine art, that principle will guide your purchases and assure that in the end, you will have a collection of great personal joy to you and your family. - The 90/10 rule. 90% of art collecting is spent outside of the act of buying and handling your new selections for your collection. 90% of your time should be involved in learning and preparation while 10% of the time should be actively involved in purchasing and managing your fine art. Follow this guideline and your purchases will be wise ones indeed.- Your gut knows all. Simply stated, if your instincts tell you a purchase is a bad one - run! Your gut has an ability to detect problems that you may not be able to vocalize. By following your gut, it will keep you out of trouble.- Avoid the price extremes. Beware of the art works that are at the top price levels for the genre. The odds are they are not going to compliment your collection as much as drain your bank account. Similarly, avoid art work that is "a bargain". There may be flaws in the artwork that justify the seller's haste in wanting to unload it. - Know who you do business with. Get to know your dealers and those who guide your purchase decisions. By only doing business with reputable and trusted sources, you avoid "art collection scams" that can be a disaster for your love of art collecting.If you let these simple guidelines become your "commandments" of art collecting, you will avoid the majority of problems people who are new to art collecting fall into. But don't respect these rules just when you are getting started in art collecting. Let these rules become your guiding principles even when you are a seasoned collector with many stories of great art collection victories to tell. In that way, you will guarantee you enjoy your passion in art collection for a long time to come and even pass your love of this part of culture to your children and those who later on are just getting started and need your sage advice for a "safe" experience in art collecting.
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