This digest is brought to you by Patrons MCAA. Patrons is a full-suite art advisory firm that helps private and corporate art collectors diversify their wealth through art collection, appraisal, packaging & transportation, storage, insurance, maintenance, and restoration.
As the sun rises in the east and sets in the west, the wealthy diversify their wealth through art collections. Anyone keen on using art as an investment vehicle can get into it. There is more to discover and explore in the art industry than before. As more emerging artists make their mark in the industry, an equal emerging community of collectors patronises these artists.
How do I go about building my first emerging art collection? What artists should I look at? What key points should I take into consideration? Who do I approach to make my first purchase(s)?
A decor, an investment, or something else, whatever your reasons are for collecting or wanting to collect art, these mediums can help you:
ARTIST GRANTS & REWARDS
Large institutions invested in arts typically run open calls for residency, fellowships, group exhibitions, and other unique art projects yearly and sometimes several times a year. They use this as a strategy to discover emerging artists that are worthy of note. Artist participation in these programs brings about great exposure for them. They get the stamp of approval from the sponsoring institution, but they also get access to its collecting community.
SMALL GALLERIES
Because they are just starting, it is easier for a small gallery to represent an emerging artist than to define a fairly established one. Should an artist perform well in the art markets, these galleries will take it as an opportunity for them to have boosted an artist’s career.
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SOCIAL MEDIA
In recent years, the traction enjoyed by popular social media platforms such as Facebook and Instagram has not gone unnoticed by stakeholders in the art industry. Many artists have enjoyed discovery, fame, and possible representation off social media by just showcasing their works of art.
Some artists take their use of social media even further than just displaying works of the art newly minted. They use it as an avenue to create a loyal following and establish deeper connections with the audience by showing them BTS – “behind the scenes” – how they work, how they conceptualize art, and virtual studio tours.
ART REVIEWS
There are noteworthy emerging artists who have made it to publications. Collectors’ keen interest in emerging artists finds art reviews an excellent resource for discovering talented artists. Art reviews educate readers, providing great insights into an artist’s background, style, and work. Collectors can make informed purchasing decisions when buying into an artist.
ART ADVISORS & CONSULTANTS
Art advisors or consultants will aid you in putting together your collection. They will provide expert advice on acquisitions and resale that ensures you get optimum value over time—interested in engaging an art advisor for your group? Get in touch! Send an email to [email protected] to get started.
Summarily, Art should be accessible, and you do not need to be a wealthy person to get started. With this knowledge armed, you can begin building out your emerging art collection with confidence. When you buy emerging art, you invest in a well-balanced market; you play a small role in the artist’s career.
Until next digest,
