I joined Nicole Milkovich of the Love Art Fair, Alison Milne, and Anthea Baxter, director of Alison Milne Gallery at the Spoke Club this week for an informal presentation on starting an art collection. The overarching message of the talk was to get over any fears you might have of the “art world” and trust your own instincts about judging the merit of art. The trio related a series of common sense strategies on the topic of starting an art collection. As they stressed the fact that commercial galleries are retail spaces, their tips came down to sensible shopping advice. Here are a few:
- Shop around- go to many galleries, art shows and fairs, openings, read magazines and blogs, get on gallery mailing lists- with the purpose of defining your personal taste in art.
- Educate yourself- ask gallerists for price lists, read about different mediums so that you understand what your are buying.
- Trust yourself- don’t be afraid to look stupid, acknowledge that different people have different tastes in art and that your preference is valid.
Milne relayed her own story of entering the art world. Working as an interior designer, she decided she needed art on the walls of her showroom. She decided to ask an artist friend, Harvey Valentine, if she use his art. At the end of a relaxed evening and $24,000 later, Valentine had sold his entire show and Milne had decided on a new career venture.
During the closing question and answer period the topic of art as an investment was broached. After comparisons to the stock market and playing your numbers were mentioned, Milkovich related an anecdote about a person who began collecting by buying a piece of work from an artist friend who needed money. The anecdotal starving-artist was Mark Rothko, which led to Milkovich’s advice “buy for love and if it’s a good investment you can be smug about your purchase later.”
The Love Art Fair runs May 8-11, 2014. For more about the show read my earlier post.
Header image: Ric Santon, a history over large and small accidents, 2007
acrylic on wood, 60″ X 54″, Parts Gallery. Santon’s work was showcased during the talk as an example of art that may be found at Love Art Fair.