How NOT to Buy your First Piece of Art
If you’re anything like me, when it comes time to make a decision (big or small) you often find yourself coming up with some lame excuse about “sleeping on it” or “giving it another day.” Well, here’s a lesson in first time art-buying from the decision maven herself — if it’s something you like, it’s worth it. Art’s not a throw away item, it won’t go out of style (remember when overalls were a thing?), and it will forever serve as the marker of the day you ever-so-cooly “got into art.”
Untitled (Think for Yourself Black, Yellow, and Blue) by Mark Harris, (17” x 21”) $250
Now, I initially planned on sharing first-time-art-buying success stories, but in my research found something so outlandishly disturbing that I couldn’t possibly not talk about it. As I trolled the interwebs for the aforementioned tales of first time art love, I came across an article written two years ago and featured in Business Insider entitled, “A Step-by-Step Guide to Buying your First Piece of Art.” Naturally I read on, thinking I could pluck some pointers to put my own spin on and ignite hundreds of inspired explorations in art discovery. Well, to the masses (I can only assume that’s how many read my stuff) I tell you that this article is so misguided that I nearly looked for a way to red flag/report/mark it as offensive.
Allow me pull some excerpts and tell you why.
It all starts with the opening line:
"So you’ve got a little extra cash in the bank—maybe a year-end bonus or recent inheritance.”
Wait, what’s up? Now I need to have an inheritance to buy art? Well, that’s unfortunate, because I (and most everyone) am not coming across any sort of surprising family money anytime soon. This is false. Let’s move on.
Their first piece of advice is to “figure what kind of art you like.” Fair enough, I guess. But let me also say that I freak out for abstracts, but am just as likely to buy a landscape if it catches my eye on a given day. Just something to keep in mind; figuring out what you like doesn’t have to be a process of elimination.
Another BI tip:
"Talk to dealers to find out about the reputation of the artist you like. Has he won any awards? Has her work appeared in any major shows? Are there any periods for which he’s particularly well known?"
Firstly, that dealer (who’s going to take half of that artist’s money, by the way) is probably more into selling you on an artist they represent than a piece you genuinely like. Secondly, isn’t this supposed to be advice about buying your first piece of art — that piece that stays with you forever? Awards, major shows, gold stars, and trophies are great if you’re trying to turn a profit in a year’s time, but if you’re trying to hang a piece of art on your wall because you know, you like how it looks…it probably shouldn’t be your number one concern. I’m all for learning about the story behind a piece for conversation’s sake, but there’s no way in hell you should be spewing about awards and exhibition appearances when discussing the first. piece. you. own. (pro tip: artists usually include artwork descriptions and you can find their bios anywhere, like their website)
City Scene by Andrei Stolyarchuk, (18” x 24”) $100.
Next BI tip:
"Set a budget—and be prepared to go over it."
And so we encounter the problem with the art world — the notion that you have to spend a lot to get a lot. You don’t…and probably shouldn’t if it’s the only thing in your newly founded collection. We have 2000+ artists selling works all at the same price. They don’t mind, they just want to make art. Essentially, you could pick out your 10 favorite pieces from the Vango collection, they could be 10 different sizes, by 10 different artists working in 10 different mediums, and you’re paying the same. This way, you’re buying something that’s “you”, your style, and fits well with your life, rather than getting seduced by a trendy artist with inflated price tags. BI says spending more is a way of avoiding “buyers remorse,” but uh…you also run the risk of being that much more remorseful having blown that inheritance of yours.
Moving on:
"Know the factors that can affect the price of a work of art…’High-end galleries will generally charge higher prices for artists than less-established galleries, so be aware of the reputation of the gallery you are buying from.’"
Oh, the politics. We’ve 86-ed the galleries altogether.
The article also mentions “rarity,” which basically means finding out whether you’re buying a one-of-a-kind piece or something that all your inheritance buddies will have. While Business Insider is mostly concerned with the fact that an original is worth more, we’d recommend going the original route for your first piece because if you’re going to buy art it should be personal and unique to you. Just think, if you’re buying a 1/100 print as your first momentous art purchase…99 other people have done the exact same thing. Slightly unoriginal.
One more BI breakthrough:
"Make some space on your wall."
For all the high-browiness that this article was steeped in, I couldn’t get over this graceful nugget. It was almost like they were trying to crack a joke after writing the least funny article, ever. So yeah, make some space on your wall…or ya know, just visualize it perfectly placed before you buy.
Now, we’ll cut BI some slack because we hadn’t launched in 2012, but we definitely won’t condone first-time art buying as an activity set aside for one specific, high-society, inheritance-having, auction-going, dealer-consulting, type of individual. Anyone can buy original art they love and they can do it starting right now.