Wednesday 30 May 2012

Is buying original art something an average person can do

By Tom Sambrano


For many individuals the thought of purchasing original art, whether by living or deceased artists, is a far off concept. Being an art collector is often considered an activity reserved for the very affluent or rich. Or it seems like a frivolous expense compared to necessities.

A big stumbling block is the question of what to buy? How does the average person know if the piece of art is worth the cost and should be bought? Is it a piece that might grow in value or is it a piece that might prove a poor investment? These are tough questions and for most people the lack of familiarity and knowledge is a real barrier towards purchasing art.

Thankfully, one does not have to be rich or an art professor to become an art collector. Yes, it is wise to see that life's basic needs, such as food and shelter, are taken care of. But with those things in hand, there is no reason that purchasing and collecting art could not form a part of an average person's life. Art brings value to living beyond just financial value, in fact it could be argued that art and beauty provide much of our drive to live and to enjoy.

Herb and Dorothy Vogel of New York City are a great example of the fact that you don't have to be rich to become an art collector. They both had ordinary jobs, one was a postal worker and the other was a librarian. They were driven by a passion for art and bought numerous pieces from yet-to-be discovered artists. Over their lifetime they build one of the most important collections of the 20th Century with more than 5,000 works of art. Following their heart and their eye brought them great joy, satisfaction and financial reward.

The first step for any starting collector is to realize that original art is within their reach and can be bought. Many artists are quite affordable in their early careers and works of art can be often be purchased for just a few hundred dollars. More established or deceased artists are normally represented by galleries, and the pricing reflects their higher value. But in these circumstances it is often possible to purchase on layaway, making payments over time.

The question of what to buy is actually simpler than one might think. The fundamental rule is to buy a piece of art that speaks to you and that you like. Unlike stocks or CDs, one will live with the art on an everyday basis. It should be a piece that brings enjoyment and quality of life.

What is to be learned here is that buying art is more than just an investment decision. Unlike stocks, bonds or commodities this is an investment that provides a quality of life and emotional return while often providing a financial return as well. Even the world's most sophisticated collectors still follow their hearts in buying pieces that bring them joy and fulfillment and so should you.




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