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How To Buy Your First Piece of Art

Dated: 02-09-2013
Source: Times of India

Buying Art isn't  as easy as walking into an art show or gallery and picking up the first painting you like. In fact, shopping for your first piece can be rather intimidating. How to start? What to buy? Where to put it? There's a science involved in how you make an investment in art.

Inculcate a taste in art :
Walk around galleries. meet artists, talk to them, study their medium and work. Says artist Arpana Caur, "Find out what kind of art you like. The best way to do develop a curiosity and taste for art. Visit museums, galleries, speak to artists, critics and figure out your personal tastes. You should also try to develop an interest in different styles, periods and methods. The internet is a great source of information on art. You clould do a reserch on art and prices here." Visit art cafes as they are great places to look at pieces of art and hobnob with people from the art world. Says Ashish Anand, of DAG (Delhi Art Gallery), " Make sure you research the credibility of the galleries, meet the art advisory on who are the upcoming artists. Find out how important and significant is the artist's work. Don't let someone sell you a crappy, irrelevant piece of art for Rs.10 lakh."

Check out every piece yourself :
Once your reserch is over, check out all the pieces yourself. Says Siddhartha Tagore of Art Konsult," You should personally check out the art piece, rather than picking them up on the internet. Study the artwork of the artist and how it has evolved in the last five years. Talk to the dealers about the artist, has his art appreciated? Howe many awards has he won and shows he's had? Has the artist got a degree from a reputed college? He Should have a minimum of five years of experience. Ask for an authenticity certificate."

Plan your budget :
Calculate exactly how much you are willing to invest. Don't regret, if you overspend. You sould study how the money in art market works. Says Anu bajaj of Art Positive. " Some art that is bought in the primary market will be less valuable than in the secondary market (Which is privately owned). You must reserch the reputation of the gallery you buy from. Ask for information about the artist. Period works of an artist will cost more. You must also be aware of the hidden costs, like insurance, framing, shipping ect. You must check if there is a premium cost on the art piece. Ask the gallery for a discount, don't blindly go in for the sticker price." If you plan on becoming a serious collector, start documenting your art from the first buy itself.

Make space for art in your home :
Declutter your walls to flaunt the piece of art. Says interior designer Manjeet Bhullar, " After you bring the art home, make sure there isn't anything else in the wall and the lighting is done in a way to highlight the artwork."

 Buy what you like; don't always buy for investment :
The appreciation in the art market is influenced by a lot of factors, so don't always buy for appreciation, buy what you like. Says Anu Bajaj, " Buy what you love. Liquidity is tough but you should never regrat having a particular art piece."

Check the documentation with the artwork :
Ask the gallery for a condition and authenticity report. Says artist Kiran Pindir of Artaroma. " It's essential to check the documents that come with the artist's work, they are essential, one should check them thoroughly."



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