Part 2 – Building an enviable art collection
In our last digest, we delved into how collecting as an act came to be. We took a memory walk down history lane where we learned about early acts of collecting in Nigeria, Egypt, Babylon, China, and India. If you are keeping up with us from our last digest, I am certain by now you must be thinking; how do I go about building an enviable collection that may someday be Museum worthy? Here are a few guides for you to consider:
Define your taste
Do you like photographs, portraits, landscapes, sculptures, metal works? Taste is such an interesting construct that you can only learn what you like by immersing yourself in different art forms. See how a particular art makes you feel. What emotions does it evoke in you when you stare at it? If you were to own it, where would you place it in your home or office?
Figure out where to buy art
Whilst it is important for you to buy art that you are attracted to, I wouldn’t advise you to buy street art because those may never appreciate it. If you’re going to invest in art, you should talk to and visit art dealers, curators, galleries, exhibitions, and auction houses. Matter of fact, it is highly recommended that you buy art exhibited at galleries, museums, and auctions. This is because any piece exhibited at such esteemed places has a public documentation, which converts as a high yield investment and collecting value in the art community.
Read also: Starting with why
Display and maintenance
Display, care, and conservation are three key areas you would need to think quickly and deeply about. Most collectors already have wall spaces or ground space for where they would like to display recently purchased artworks, even before they purchase it. Running out of wall or ground spaces in your home or offices, should not be the reason you stop collecting art. You can engage fine art storage companies such as Patrons Modern & Contemporary African Art to help store and look after your pieces as they are experts not just in storage, but also in maintenance and restorations.
As much as possible, we should all strive to collect art. Art collecting is an investment. You can think of it as a tangible way to build up generational wealth for your family, either in the form of trust funds for your kids, or a dependable pension plan.
Art collecting also has non-investment value proposition benefits for everyone. Recent scientific studies showed that art can improve your wellbeing. Art releases the same dopamine as being in love.
Art Index’s Top 5
Art Index Africa’s jury presents Art Index top 5; a showdown of the top 5 well researched and curated art pieces every collector should want to purchase based on strong technique, message, style, and medium.
Title: Okpo (Title Staff), 1990 | Artist: Tony Enebeli | Medium: Metal foil | Size: 25” x 48”
Title: Sentiments, 2020 | Artist: Duke Asidere | Medium: Oil on canvas | Size: 6ft x 6ft
Title: Oge, 2019 | Artist: Luke Osaro | Medium: Bonded stone | Size: 68cm x 37cm
Title: Two figure composition, 2020 | Artist: Olisah Nwandiogbu | Medium: Acrylic/charcoal on canvas | Size: 81cm x 139 cm
Title: Rooftops in the plateau | Artist: Emmanuel Dudu | Medium: Oil on canvas | Size: 21” x 37”
In summary, my expert advice on building an enviable collection are:
See art as an investment; treat it as such by being intentional about it
However, you still need to buy art you really like
If you’re at the beginning of your collection, double down on it.
Reassess your taste in art as often as possible to see if it’s changed
Explore new mediums and styles – just like artists and art evolve, so should you
Periodically appraise your collection to be in the know of the current market value
Be an informed buyer; regularly immerse yourself in art education by galleries, art advisory firms, and reputable blogs/websites.
Ask for advice. You are reading this digest so you are already on the right path. My inbox is always open for outreaches: ar*@pa*********.com
Until next digest,