Real love or fleeting fancy ? What everyone should think about before an art purchase.
To bring some structure and guidance to the purchasing process there are some key stages to take into consideration.
First of all, unless you are a sophisticated art investor who is collecting and thinking in terms of risk and return, you must fall in love with the piece. If you feel strong emotion when you look at it, you are on the right track. It has to be a good fit for you, before any other consideration.
The next stage is to make sure it fits into your existing collection, how and where you would display it and if the price is within your range. Most importantly – even if you are blindly in love with that piece and you are thinking that it will last forever – you should ( or an art advisor should for you) determine if it is interesting and historically relevant. You must weigh the significance of the piece by evaluating if it is genuinely innovative or it is irrelevant because it is an adaptation of something done before.
Finally, before buying, imagine the work in 5 ,15, 20 years and ask yourself if it will be still relevant or it is merely a flash in time. I know, if you are in love, this is quite a tricky question to answer but, again, this is another good reason to ask to an art advisor before making a decision.
Many galleries, and some artists ( because of the insurance costs), nowadays allow you to take a work of art home for a few weeks. This is a good option before a major purchase. It will give you a chance to experience the work and determine if you could live with the piece or it was simply a fleeting fancy.