2024-11-25 11:17:00
A visit to the museum can certainly arouse desire. How beautiful would it be to admire this Rembrandt in the dining room every day or enjoy this Baselitz above the bed every evening? For most people, it is impossible to turn these daydreams into reality unless they have millions in the bank or a lot of criminal energy.
If you have neither, you can still decorate your four walls with something special. Most art sales do not occur in the million-dollar segment, even though reports of auction records and a look at many galleries suggest otherwise.
The simple fact that almost all great artists were available for little money at one time or another proves that originality and quality need not be a question of price. Anyone willing to do a little research on the art market and its players can have a lot of fun purchasing a work of art. And maybe even lay the foundation for your own little collection.
But how to start? The art market is huge, international, confusing and follows its own logic that is difficult for non-experts to understand. This is why it is better to start with yourself: “If you are thinking of buying a work of art, you should first ask yourself: what do I really like, what am I looking for? “Photography, painting, sculpture?” says art consultant Hans von Bülow, who helps individuals and institutions find and purchase the right work of art.
The field is incredibly large and you can get lost quickly. “Does it have to be unique or can I live with an edition? Is it important for me that the artist is already better known? Or do I even enjoy discovering completely new names?”
The good news: There have never been so many ways to find out what you like. There is information about almost every artist and gallery on the Internet and most of it is free. However, it may also be worth investing in good literature on the topic of art. “Artist books and exhibition catalogs are a great way to get a feel for the work and the artist,” says von Bülow. “Many of the works are clearly displayed there.”
For example, you can immediately see whether the artist also works as a sculptor or how the style has changed over the course of his career. ”Some exhibition catalogs and illustrated books are even designed by the artists themselves.”
They can be purchased in well-stocked bookstores specializing in art. Particularly well-known is the Walther König bookshop which has several branches in Germany. “The advantage of these bookstores is that the sellers are often very knowledgeable about the art and can also recommend other literature.”
However, the best way to develop a feel for your preferred style is to see the artwork in person. The goal doesn’t have to be to find something right away. It’s more about training your perspective: What do I like? What similarities do I discover in artworks I like, such as certain formats, patterns, colors, image compositions? What effect does an image have on me – and why? In the galleries, the gallerist can tell you more about the artist, the era, the technology and the materials used.
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It may be worth making an appointment, as many galleries have very limited opening hours. You can get a good overview at a “gallery weekend”, which is organized in most large cities. The galleries have long opening hours and the event is often accompanied by openings or other cultural programs.
International fairs for those looking
If you want to see several works at the same time you can stroll through one of the numerous art fairs. However, the number of works that can be seen there in just a few hours is both inspirational and sensory overload. Especially in the affordable segment you will find almost nothing at fairs like Art Basel in Switzerland or Miami. With the Affordable Art Fair, an international fair format has been established aimed specifically at collectors and art enthusiasts who want to afford an original even on a limited budget. Originally launched in London, there are now several international branches, including Berlin and Hamburg.
Oliver Lähndorf is the director of the Hamburg trade fair, which took place at the beginning of November this year. Lähndorf wants to counteract the elitist reputation of the art industry. “I too have been in galleries where I felt like a supplicant. Everyone is welcome here.” At the fair, no work costs more than 10,000 euros – and next to every work of art there is a price tag. “I think this transparency in terms of price helps enormously in breaking down barriers for newcomers to the art world.
But how do you know you’re not paying too much? With any luck, sales of lesser-known works are also made public on platforms like Artsy. However, the more unknown an artist is, the more difficult it is to find references. “When you buy art in this entry-level segment, it’s an emotional investment that makes you happy,” says Lähndorf. In other words: the work of art has the value that the buyer attributes to it. You shouldn’t rely on being able to resell the work at some point at the same or higher price, says Lähndorf.
There are always artists whose works multiply their value. “But this is simply the big exception.” The past has shown that works traded for at least six-figure sums have a fairly stable value. And of course there are exceptions, both on the upside and on the downside.
Such exceptions become known, for example, at auctions. The Ketterer auction house specializes in art and is one of the largest in Germany. Countess Nicola Keglevich is a member of the management of the auction house and previously worked at Sotheby’s. His most important advice is: “Before you buy a work of art, you should be absolutely sure that you like it.”
This is not as trivial as it seems. Anyone who has a bad purchase or two in their wardrobe knows that first impressions can be deceiving. “Some people hang a painting in their apartment for two weeks before buying it,” says Keglevich. “Sometimes you realize that the photo bores you. Or are you more sure that you really like it.” This option is more likely to be available in galleries than in auction houses.
It is best to examine the image without a frame
Auction houses offer the possibility of viewing the works of the next auction in advance. Keglevich recommends using it when there’s a time limit: “Sometimes the job seems much bigger or smaller than you imagined, for example,” he says. Furthermore, it is simply an exciting experience: “Here you can see works that have perhaps never been exhibited to the public before and which will disappear into private collections after the auction.”
During the preview it is also possible to get advice from the auction house employees. “Almost everyone started on a limited budget. You can approach us and say: I’m interested in art, but I don’t actually know what I want to buy,” says Keglevich. What you should pay attention to in any case is the condition
. “It is best to evaluate it without a frame, because cracks and damage sometimes hide under the frame.” The auction house itself issues condition reports upon request, in which, for example, any restoration
After all, you can bid by phone, internet or in person. The important thing is to have fun, but not get too carried away. “I always recommend setting a personal limit in advance,” says Keglevich. It should also not be forgotten that in addition to the hammer price there is also the so-called premium, which is collected by the auction house, in addition to taxes. At Ketterer both amount to around 30%; this percentage decreases slightly as the price increases. Any transport costs must also be taken into consideration. Unless, of course, the artwork is paid for and taken away immediately after the auction.
What are the key factors to consider when acquiring art for personal enjoyment versus investment?
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Understanding Value in Art Acquisition
When considering an art purchase, it’s crucial to understand not just the emotional connection to the piece, but also the market dynamics surrounding it. While lesser-known artists can offer unique opportunities, their works often lack established resale values. Therefore, it becomes vital to focus on your own enjoyment rather than potential future gains. “Art should primarily bring you joy,” emphasizes Keglevich. While some pieces may appreciate over time, it’s important to recognize that the art market can be unpredictable.
In this context, art fairs such as the Affordable Art Fair play a significant role. They provide access to a wide range of artists and works at varying price points, allowing buyers to discover art that resonates without the intimidation often found in traditional galleries. “We aim to create a welcoming environment where everyone can explore and enjoy art,” Lähndorf adds. This makes art more accessible to newcomers and seasoned collectors alike.
Establishing a Personal Connection
As you navigate through galleries and fairs, take the time to reflect on your personal connections to the works you view. Is it the color scheme that draws you in? Or perhaps the emotional story behind the piece? Identifying these factors can sharpen your acquiring instincts and lead you to artworks that not only beautify your space but also resonate deeply with you.
Furthermore, don’t hesitate to ask questions. Gallerists and sales representatives can provide valuable insights into the artist’s background, their techniques, and the context of their work, which can enhance your understanding and appreciation of the piece. Each artwork has its own narrative, and engaging with these stories can deepen your connection.
Ultimately, purchasing art is as much about cultivating a personal experience as it is about investing. “True value lies in your connection to the art you choose,” concludes Keglevich. Remember, the art you bring into your life should be something that resonates not just visually, but emotionally. Taking the time to fully immerse yourself in the selection process ensures that your future collection reflects your unique tastes and stories.