Questions to Consider Asking Yourself While Contemplating a New Addition to Your Art Collection
It’s no secret I am passionate about the topic of helping people build a cherished collection of items they love living with—their right stuff. It can be quite difficult to evaluate a new potential purchase clearly to discern what course of action would truly reflect your deepest wishes when confronted with the physical experience of a beautiful artwork and a very agreeable gallery representative eager to work with you. Below I’ve compiled some questions based on my years of observation and experience in the field that may be helpful to consider asking yourself as you work to sort out your thoughts and feelings regarding a new potential future purchase. Some questions may resonate more than others, and that’s perfectly fine. My hope is the structure of inquiry and analysis will help you move forward feeling confident about your decision, whether it is to go ahead with a purchase or hold off.
QUESTIONS TO CONSIDER:
-Do I love this piece?
-Why am I drawn to purchase this piece?
-Did a gallery or art dealer or consultant tell me I should purchase this piece?
-Do I feel like I’ll be perceived as more sophisticated and worldly by having this piece displayed in my home?
-Have I checked out the reputation of the venue I’m working with? Do they have any legal cases against them or any controversies in their history?
-Does the venue have any independent consumer ratings available to review?
-What is the return policy at the venue I’m working with? Do they have an option to test out the work in my home before committing to purchasing it?
-Is the work in the artist’s catalogue raisonné if one is in existence?
-Where does the venue source the work I am considering? Is it directly from the represented artist or the artist’s estate or is the sourcing not disclosed?
-Is the venue’s pricing reflective of its level of the market, or is it significantly out of range in either direction?
-What sort of provenance paperwork will the venue provide?
-Am I concerned about potential future monetary appreciation of the work, or will I simply enjoy looking at it?
-If I am concerned about future financial appreciation, am I focusing my purchases on works executed in mediums that generally experience the most appreciation?
-Where will this work go in my home?
-Does it closely replicate something I already have, or will it fill a hole in my existing collection?
-Is it in good condition?
-Is there any previous conservation or restoration? If so, is a conservation report available to review?
-Do I feel comfortable with the price, or do I feel like I’m stretching or overreaching my budget to purchase it?
-Does the vendor promise me that it is a good buy because it will appreciate and be an investment?
-Will I care if it never does appreciate in value?
-Did it capture my attention from the first time I saw it?
-Is the price justified for how much I will enjoy living with it?
Sarah Reeder, ISA CAPP is Co-Editor of Worthwhile Magazine and owner of Artifactual History® Appraisal. She is also the creator of the online course SILVER 101: Quickly Learn How to Identify Your Sterling Silver and Silverplate to Find the Valuable Pieces and Sort with Empowered Confidence, available on-demand at https://artifactualhistory.teachable.com/p/silver-101. Sarah can be reached at her firm at https://www.artifactualhistory.com/