Buy art: Tips for non-initiated.

Buy art: Tips for non-initiated.

  1. How can you buy art? Where to start?

The first thing will be to tell you that you should not be afraid of a world that you probably see as elitist, you are wrong if you think it can only be for super specialists with enormous knowledge.

Even fairs as reputable as Madrid's ARCO, have begun to see the potential of the First Collectors and have created with this name, a personalized counseling program designed to attract interested people who have not yet bought art, in an attempt to facilitate the passage to those who still do not dare.

The truth is that we think it is a great initiative, since one of the basic questions for the sale of art, viewed from the point of view of the business, is to grow the base of the people who buy art.

In Spain, for example, there are good collectors, aware of what moves in the art world, but in reality they are very few.

In other areas of the world, as in the Anglo-Saxon countries, interest and the concept of buying art is more widespread.

But in any case, renewing and expanding the base of those people is in the interest of all of us who dedicate ourselves professionally to the sector of the sale of art in one way or another.

What is the most important thing when buying art for the first time?

1 The important thing is that you buy something that you like.

Art is enjoyment and if you do not enjoy it, you lose the grace.

The art world is very wide and varied if you search, you will end up finding that piece that makes you to fall in love with and that fits your economic capacity.

2º It is better if there is a connection between the work and you.

It can be the theme, the nationality of the artist, the technique used, the chromacity, the title ... It must be an extension of your own identity.

Do I throw myself just to buy art?

The ideal would be to do what you are doing now, training yourself, reading about art, seeing where the trends and current artists go, going to exhibitions, etc.

When you think you're ready, it's time to take the step and make your first purchase.

art fair

How can you buy art?

Traditionally there were two major markets:

The galleries and fairs that these galleries attend.

And the art auctions.

The first is a market that focuses on living artists.

The second, in great masters or consecrated artists who have sold their work at least once.

A third sector that makes its way to little by little is the world of selling online art, to which Omicron Handmade belongs, to which established artists but also new artists to the online world offer a showcase to show their work.

Although there are auctions that you must register to attend, most are open, anyone can go.

We are not going to deny that they are the most elite part of the art market and that it is convenient to know in advance the prices on which the auctioned work can be moved.

Fairs are becoming increasingly important platforms for the purchase and sale of art.

Perhaps the most important component for day to day art is still the galleries, which promote and help define the professional career of an artist.

Increasingly, online shopping opens up, and it has yet to define what will be its definitive role in buying and selling art.

The truth is that it seems that he is just another player who has come to stay.

Both in the art gallery and in the online store dedicated to the sale of art, it is worth asking:

How is the process of acquiring a work of art?

Once you have decided that a work of art interests you, be it painting, sculpture, or any other format, what should happen is the following:

The gallery or online store that sells you the artwork, let's suppose it's a painting, with the painting you must be given all the necessary documentation.

It is essential the certificate of authenticity that provide you with the acquisition of the work, even if the piece has been signed, it is always interesting that the latter, the signature of the author, also occurs.

In the case of purchase in Gallery usually give you the catalog of the exhibition or texts about the artist.

The latter is less common in the online art store for the simple fact that there is normally no proper exhibition.

In any case they must give you the invoice of the transaction, which works as a proof of ownership.

Once the payment is formalized and the gallery or online store organizes the framing, it is sent if it has been agreed and in the case of the online store the piece is normally delivered to the buyer's address through a transport agency.

subasta de obras de arte

And if yours are the auctions you need:

First of all the auction catalog to know and select what interests you.

The forms of participation vary a lot, you can buy:

  •  Going to the room, physically.
  •  By telephone, previously arranging an appointment with the house that organizes the bid.
  •  Or in writing, leaving a maximum bid, a closed price that you can not change.

That thing is very simple:

The one who makes the biggest offer, takes the work.

It is highly recommended to go to some even if only out of curiosity, it is a very fun experience, not very different from how we all have them in mind thanks to the representations that movies and television has made of them.

Now let's answer a question that is round your mind from the beginning. How much money do you have to buy art?

Let's be honest it costs money, we will not deny it. 

But you have to have a huge budget as you can guess. 

From 3000 euros we can buy graphic work of consecrated artists and with something less from 500 - 700 we can find very interesting unique work of artists with projection.

Obviously the unique pieces are more expensive than the series that you can find both in new artists and more established artists at very affordable prices.

The more recognized the work of an artist, the higher its price in any case.

Other features that influence the price: 

The institution where it has been formed, so the artists who have been trained in prestigious centers usually quote higher than those who have not had that training, for the simple fact that more leading artists have left these places. 

The nationality and age of the artist. 

Although it may seem secondary, the city where the buyer resides and the number of collectors in it is still relevant. 

The collector is mostly local, trying to support the art of his city, his region or his country. 

Artists who reside in territories with more buyers are more likely to sell and therefore are more quoted.

Internet in this has been a change, the network has become a tool of great importance.

In addition to allowing participation in auctions, you can now buy online art with guarantees from areas further away from the places of residence of collectors.

Actually the collector is a couple of clicks from any artist in the world in this medium. 

The problem of buying art online

The problem of buying art online. 

The problem is that you do not physically see the work and today that remains a barrier for many collectors. 

Although for each generation that is incorporated into the purchase of online art that is a minor problem.

 It is important that you work with serious e-Commerce that offer you the certification of authenticity and the invoice of the work, as is our case.

How do you pay for the art that has been purchased? 

The VAT of 21% is the usual, but in some cases, the "special art regime" is applied.

This regime, which does not have a fixed fee and varies depending on the transaction, is always lower than 21% and comes into force when the artist is registered as an independent. 

According to the report The Spanish art market in 2014, which is the one that contains the most up-to-date data in the sector, unless we know at the time of writing this post, they pay a reduced VAT (between 4 and 10% ) direct transactions between artist and buyer, those that carry out partnerships and imports.

How is the work of an artist revalued? 

As in any market, the evolution of prices depends on supply and demand. 

Influences aspects such as: 

  • How many works has the artist put up for sale in whose work we are interested. We already know that scarce is more expensive than abundant.
  • The revaluation in art depends on how the author's curriculum evolves and its recognition in the world of art. 
  • Aspects of that particular work as if cataloged or exhibited in a museum revalue it. Aspects of the market and how the prices of the author of the work are evolving. 
  • The support that the artist has for curators of exhibitions and art critics, the inclusion in large private and / or public collections, etc. 

There is an accumulation of complex factors that will determine if a work is revalued or not, and to what extent it is going to do it, even if it loses value. 

This aspect is very important if you have purchased as an investment and not for your personal enjoyment. 

When to sell is the key question in this case. 

The best thing is to go to the analysis of an expert in each case. 

But not to leave the answer empty we can say that between five and ten years may be a good time. 

The more recognized the artist is, the time is reduced compared to a young author who needs more period of maturation and evolution. 

As a counterpart it is cheaper to buy works by authors with projection but not yet consecrated. 

art at home

A final advice:

 If you are going to buy a work of art, think about what you need to keep intact with the passage of time.

Some basic precautions are to move the work away from heating, direct light, excess humidity or / and temperature.

The photograph or the work in paper support demands specific conditions of protection to the light and the humidity to avoid its deterioration. 

With the new media that incorporate new technologies you must anticipate that some of the components used in the manufacture of the works may be left without spare parts in the future. 

These works require maintenance support, "one of the great barriers of digital art". And a final appreciation, since you're going to acquire works of art, put them in your house and enjoy them.

We always appreciate your comments, and if you liked it, we encourage you to share the post in your favorite social network.

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