Collecting on A Budget
Untitled | Raiman Rodriguez Moya
S. Conde -
We've been asked to give a talk, Collecting on A Budget, to a group we're delighted to host, Women United, "...a global force of 70,000 plus women dedicated to creating a world of opportunity, for everyone", at the gallery this month for a reception, talk and preview of the upcoming exhibition, "Return to Order", which opens on Friday, November 30th.
It occurred to us, this might also interest you, so here's a basic overview.
As with nearly everything else in life, money makes things easier. It's the greatest advantage to having it in the first place. Taste however, is the equalizer. With taste, vision and a small budget you can create a collection over time that will rival the big money buyers.
The first rule has to be, buy what you love.
Even if you have what your friends and family believe to be the worst taste in the world, it is yours, and you will build a collection unique to you. That, in and of itself, is interesting. Ultimately as your collection grows you might become a setter of trends. Far stranger things have happened. Besides, maybe they're suffering from a lack of vision, not you.
You can build a spectacular collection on a budget, based on your particular tastes, by identifying artists you love early in their career and investing in them. Small format works, works on paper and multiples are a budget friendly way to begin collecting.
As the numbers behind the dollar sign grow longer it behooves you to do some research. The rule remains, buy what you love, but do your due diligence. Our industry is notorious for holding pricing close to the chest, which is one of the many reasons it's important to work with a gallery, art dealer, or art advisor you trust. They will either already know the artist's market, or do the research for you.
I am not a fan of buying art purely as an investment, but art is increasingly being treated as an asset class. According to Adriano Picinati di Torecllo of Deloitte Luxemborg art as investment makes sense for the following reasons :
a hedge against inflation and currency devaluation
no minimum investment
favorable tax treatment
low correlation with other financial assets = reduction of risk
earning extra revenue through loans, exhibition or events
no geographical risk and is easily moved
insurable against calamity risk
Everything on the COCO Gallery Store page is under $6,000 and available to purchase fully online. If you're on our website and see "contact for pricing" the work is priced over $6,000.
Please feel free to contact us for assistance, guidance, or advice in building your collection.