Eye Spy [5-04] 

Collecting For Dummies 

The art at these types of events can range in price from a few hundred (an event initiated last year in New York is billing itself as the “Affordable Art Fair” with all works on display under $5,000) to a few million dollars. 

By William Fong
Arts Writer 

I don’t know about you, but I actually like the For Dummies series of books.  They break down psychological barriers, make many topics more accessible, and generally provide a map to completion for a project. Since I have found that many people are still intimidated by the prospect of acquiring art, I decided to write a column with some simple suggestions to beginning your journey down the wonderful road of art collecting.

Collecting on your own can often seem the most intimidating, so start out by joining a museum.  It’s best to join an organization that has a permanent collection and/or features traveling exhibitions that mirror your tastes. If you prefer contemporary art join MoCA, if your tastes run Asian perhaps the Norton is for you, and if you enjoy propaganda art and ephemera from the 1885 – 1945 period sign up for membership at the Wolfsonian. It’s in a museum’s best interest to educate its members on their mission and the focus of their collection as well as to assist in generally making art more accessible. Most museums offer programs specifically geared toward the aspiring connoisseur with lectures from curators, local established collectors, and conservation experts. Before entering into a relationship with a museum, be sure to ask if they offer any of these programs and then make sure the programs are available to the membership level you plan on joining.

In most major metropolitan areas (New York, Chicago, Los Angeles, San Francisco, etc.) one can generally find an annual art fair. South Florida has several to speak of including Art Miami and Art Palm Beach. Miami Beach had the prestige of hosting the first satellite installation of the premier contemporary art fair, Art Basel/Miami Beach, this past December. The art at these types of events can range in price from a few hundred (an event initiated last year in New York is billing itself as the “Affordable Art Fair” with all works on display under $5,000) to a few million dollars. Art fairs are a great way to dive head first into collecting as they generally feature a multitude of credible galleries representing both established and emerging artists. My best suggestion in attacking a day at a fair is to look at it as if it were a day in Disney World – wear comfortable walking shoes, stay hydrated, and try to get a map of the layout ahead of time.

An auction house is a great place for a new collector to get a good feel for the market in their area of interest. Meredith Harper, Vice President and Specialist in Impressionist, Modern, and Contemporary Art at Christies, advises new clients to “educate their eye, and look, not buy” at their first auction. She also suggests developing a rapport with a specialist in the field in which you are interested. In the end, she always advises collectors to “buy the best in their area of interest that they can afford,” and, “that auction gives you a good indication of the possibilities that are out there.” 

The most recommendable route to take, if you have the means, is to retain the services of a reputable art consultant. A good consultant will advise you throughout the whole process, all the while looking out for your best interests. While working with an art consultant during your discovery of the art world, you will discover what you like, how to make sure the art is original, how to shop for art (including comparison shopping, dealer negotiation, how to be a good customer, and how to buy at auction), and, most importantly, how not to buy art.  Chris Ingalls, Miami-based principle of Ingalls & Associates, provides collectors with an extensive variety of consulting services including art acquisitions and appraisals as well as conservation and installation advice. When asked about building a collection she commented, “In any important collection, the whole is always greater than the sum of the parts. Learn from a professional what makes a collection great, the basics of collection development and how to select pieces that maximize the individual and overall values of the art that you already own.”

You may be wondering why I didn’t deal with galley protocol in this article. Alas, that subject merits its own in-depth discussion. Look for upcoming Eye Spy columns where I will also address issues of installation and conservation – you know, what to do with it once you get it.  Remember, you don’t need to know everything to begin – most of the fun is in the learning and experience.

For more information on the art fairs go to www.artbasel.com, www.art-miami.com, www.artpalmbeach.com.

For more information on Christies go to www.christies.com. 

For an appointment with Ingalls & Associates call 305-981-7900 or email IngallsAssociate@aol.com.  

William Fong is an art consultant who assists private collectors and corporate clients in the acquisition of art work.  He divides his time between Miami and Los Angeles.