[This is the fourth in a series of five installments by Seabrooker Barbara Burgess. Earlier installments included “Getting to Know the Artists”, “Developing a Theme”, and “Training Your Eye.”—Ed.]
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Part 4: Consider Your Pocketbook
Having loads of cash helps with just about any endeavor, but it is not essential to being a collector. There are many people who set a limit on what they will spend on any piece of art, say $500 to $1000. This forces the collector to spot artists when they are just developing and their pieces are still affordable. What collectors are doing at this point is helping to enhance the artist’s reputation.
When collectors set a price limit on what they buy, that adds to the fun of the chase. There are many web sites that offer very affordable art, some already framed. For example, I found www.redpianotoo.com online, simply by seeing the art work others were collecting and realizing how well Red Piano’s offerings fit my collection.
Buying more affordable art would include finding fine art prints, water colors and drawings on paper. The price point of this kind of art is lower, simply because you are not dealing with originals. This art is more affordable because much of it has already been reproduced.
If you want to buy the artist at a low price point and you want to grow the value of the artist’ s worth, it helps if you assist the artist in this process. This may involve putting their paintings in a museum show, which has a huge impact on the value of their art, or actually selling the artist’s pieces to other collectors, friends or acquaintances. Getting the artist’s work to be shown in a gallery can help immensely. I was personally involved with one artist whose work I helped place in a gallery which went on to sell twenty-one pieces of his art to one buyer.
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In the final installment of this series, we will consider how to Gift or Sell Your Collection.