As sure as the sun rises in the east and sets in the west, so it is that the wealthy diversify their wealth through art collection. However, wealth building and diversification is not restrictive to just the wealthy. Anyone keen on using art as an investment vehicle can get into it. There is certainly more to discover and explore in the art industry than there was before. As more emerging artists make their mark in the industry, there is an equal emerging community of collectors who patronise these artists.
Knowing this, one might wonder; how do I go about building my first emerging art collection? What artists should I be looking at? What key points should I take into consideration as I embark on this journey? 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 special 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. Not only do they get the stamp of approval of the sponsoring institution, but they also get access to the institution’s collecting community.
SMALL GALLERIES
Because they are just starting out, it is easier for a small gallery to represent an emerging artist than it is for them to represent a fairly established one. Should an artist perform really well in the art markets, these galleries will take it as an opportunity for them to have boosted an artist’s career.
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. A lot of 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 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” - on how they work, how they conceptualise art, and virtual studio tours.
ART REVIEWS
There are noteworthy emerging artists who have made it to publications. Collectors who have a keen interest in emerging artists find art reviews to be a great resource to discover talented artists. Art reviews educate readers, providing great insights into an artist’s background, style, and his/her work. Collectors are able to make informed purchasing decisions when buying into an artist.
ART ADVISORS & CONSULTANTS
Art advisors or consultants will aid you through the process of 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 collection? Get in touch! Send an email to art@patronsmcaa.com to get started.
Art Index Top 5 Monthly
Welcome to the month of May! How wonderful that we are almost half way through the year. Art Index Top 5 for May 2022 are a marvel. From diligent research and curation, our jury presents some of the hottest art pieces by emerging artists that you should have in your collection today based on strong technique, message, style, and medium.
Here are our top 5 for May 2022:
Summarily, Art should be accessible and you do not need to be a wealthy person to get started. With this knowledge armed, you can start building out your emerging art collection with confidence. When you buy emerging art, you are investing in a well balanced market; you play a small role in the artist’s career.
Until next digest,
Support emerging artists.
Keturah Ovio.