When deciding if you want to add a piece of art to your collection, many things need to be taken into consideration. One of the most important questions you need to ask yourself is who created the art? Is their work something you want to invest in? Lawrence Starkman has had to ask himself this question each time he adds a piece to his collection of fine art.
Doing some research about the artist will help you determine if the piece will be a good investment or if the artist’s work won’t stand the test of time and it will not increase in value. Start by doing some digging into the person. When they were born and when they died, if they are no longer living. Where they lived and worked. What galleries, museums, or institutions they had their work featured at. What awards, grants, prizes or honors they received. What other collectors, if any, own their work. What position the artist held, such as professor, lecturer, teacher, writer, resident artist. How many publications they were mentioned in and the credibility of that publication. What organizations the artist belonged to. Where the artist studied and if they studied with anyone of note.
After finding the answers to these questions you will have a better understanding of the artists and if they have accomplishments that will help their career maintain longevity. Remember that art is an investment that can increase over time and doing the research into the person that created it is important. The more significant the person’s reputation and profile, the higher probability the piece will increase in value either as the artist creates more works or after their death as pieces become rarer.
It is also helpful to talk to friends or people you know in the art industry. The more word or mouth an artist receives, the better known the art. This will allow the artist’s work to become more desirable and increase in value. Look to the opinion of art experts as their determination can affect the value more than amateurs in the art scene.
Collecting fine art can be a fun hobby and a great way to invest in your future. Making smart decisions about which pieces to invest in, and in turn which artist to invest in, will help reap the benefits of your investment and result in a bigger payoff in the end. Lawrence Starkman is an avid fine art collector from Evanston, Illinois.