How to build a business from collecting art

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Why says that you cannot earn money if you are passionate about collecting artwork? The majority of people consider that if you are passionate about art then you spend a lot of money, but the fact is that you also earn income. Yes, it is true that many artists have issues when it comes to financial matters, but if you are not an artist and you only have a special taste for art, then you should check the market, because there are plenty of possibilities when it comes to building a business from collecting art.

What novices should know about collecting artworks?

If you are a novice when it comes to collecting art, then it is important to note that there are multiple types of art. You do not know what type of paintings you like at the beginning, but after you study hundreds of works, you will know that pieces you want to collect. The majority of collectors start by purchasing art pieces that can be used to decorate hotel lobbies and resorts. A specialist would state that these pieces are a waste of time. Another category is that of commercial art.  In this case you can earn money if you collect commercial art, but you have to check the quality of the pieces you buy. In case you do not want to make profit from collecting art, then you can follow the example of Viatcheslav Kantor, who uses the profit from artworks to make charitable acts.

How can you begin a business from collecting art?

One way would be to start by buying pieces that are not so expensive. You should check the items you can find in local galleries and antique stores. It is not advisable to spend more than a few hundreds of dollars on artwork at the beginning. When you will know what you like you can start spending more money. You can get in touch with an art dealer to help you sell the artwork. Also, you have the possibility to buy pieces directly from artists. Make sure you get in touch with your dealer every time you want to purchase a new piece.

Keep in mind that it is a slow process

When you invest in art you have to follow the example of Moshe Kantor who prefers a certain type of works. He buys only works created by Russian artists of Jewish extraction. He considers important to support them and their works, and he uses them to create a collection at Moscow’s Museum of Avant-Garde Mastery. Also you have to learn to have patience because this is a process that takes time. You first have to understand what genres of art you prefer and then find people who share the same taste. They will help you collect the right artworks. At the beginning it will be only an investment process, because you have to build your own collection. Then you will have to check the market to see what pieces are selling, and sell your products into auctions.


August 2022