The art of collecting
Do you buy art, or do you collect art? In this issue of Art Index, we will delve into the history of collecting, and the art of collecting.
Have you ever wondered how art collecting came to be a cultural treasure? Collecting as an act, can be traced back to the earliest civilizations of ancient Egypt, Babylon, China, and India. At that time, objects were racked up and were oftentimes displayed in temples, tombs, and sanctuaries as a way to glorify their rulers and/or religion.
In the West, the earliest intentions of collecting art can be dated back to the Hellenist period (4th-1st century BC). Avid art collectors would commission works of art and copies of Greek works. People at the time also decorated their homes and gardens with luxury items such as bronze statues, stone sculptures, and pottery works. The rise of the Roman empire gave birth to a thriving art collecting market.
Whilst the exact period in history when collecting became a thing in Africa is mostly unknown, the earliest recording of art collecting began with African sculptures from the Nok culture of Nigeria, dating back to 500 BC to 200 AD. Nok terracottas currently occupy an important but isolated space in African art history, and colonization certainly placed a global mark on it’s value.
That’s quite the history of collecting as an act. Now, let’s delve into modern day art collecting.
It is the stories of art sold for sky-high prices that makes the news round. Consider the case of Tutu (popularly known as Africa’s Mona Lisa) from 1973 by Ben Enwonwu being sold for over £1 million at the Bonhams auction, or Amedeo Modigliani's Nu Couche (Reclining Nude) painting from 1917 being sold to the Chinese billionaire Liu Yiqian for over £130 million. Undeniably, art has the potential to be an investment as well as an asset. It is however important to note that it is indeed a rarity for all art to fare well at auction houses, as did Tutu and Nu Couche.
Most people know how to buy art. Art is just about everywhere you look, and you can buy on a piece-by-piece basis. However, there’s a slight difference between buying art, and collecting art. In both cases, you would typically buy what you like.
Buying art is an act based on what one finds attractive, or prefers at that given moment. Arguably, we all buy art. If you’ve ever purchased a piece of art or you occasionally buy from a street vendor or a gallery, you have bought art.
A lot of people see art collecting as an elitist hobby, a discipline reserved for a unique breed of people with a unique eye for the abstract. In all honesty, we all have in some way, created a collection or group of items that enhances and complements each item in the collection. Consider Apple products. You would typically find that a consumer of Apple products would use an iPhone, an iPad, a Macbook, and airpods, because they complement each other, thus creating a collection of Apple products. Each Apple item enhances the other, in the group, or collection, not just in aesthetics, but also in value.
Collecting art is an intentional long term commitment. Collecting art demands that the collector is able to choose individual works in such a way that they create an admirable group, or collection. It is through collecting that works of art end up at museums, mansions, and warehouses. The goal here is to get you to collect art, not just buy art. This is not a skill you would have from the very beginning. Interestingly, most people engage art advisors and dealers to help them build great collections, long after they become savvy enough.
“To collect is to create a class or genre whose meaning resides in the way the pieces in the collection call attention to one another.”
I once saw the above quote and thought; No truer words were ever spoken. If you think deeply about it, every piece in a collection in one way or the other, draws attention to the others. Each work of art in a collection commands premium attention, premium respect, and premium price, not entirely because they’re great works of art, but especially because they’re in good company. Great collectors are widely known and respected as much as the art they collect. Great collectors can cause quite a stir in influencing standards, trends and tastes within the industry. When a renowned collector starts collecting a particular artist, style, or medium, it influences demand in the market as other collectors would quickly jump on that trend. Whilst to some degree, it is important for rising and seasoned collectors to follow trends for collection diversification, it is also very important for you to quickly realize and acknowledge your preferred medium and style of art, and stay true to that. The reason for this is because admirable collections are unique, and non repetitive. You don’t want your collection to look like everybody else’s. Where’s the fun and value in that?
By now, you must be thinking, how do I go about building an enviable collection that may someday be Museum worthy?
Define your taste
Do you like photographs, portraits, landscapes, sculptures, metal works? Taste is such an interesting construct that you can only learn what you like by immersing yourself in different art forms. See how a particular art makes you feel. What emotions does it evoke in you when you stare at it? If you were to own it, where would you place it in your home or office?
Figure out where to buy art
Whilst it is important for you to buy art that you are attracted to, I wouldn’t advise you to buy street art because those may never appreciate it. If you’re going to invest in art, you should talk to and visit art dealers, curators, galleries, exhibitions, and auction houses. Matter of fact, it is highly recommended that you buy art exhibited at galleries, museums, and auctions. This is because any piece exhibited at such esteemed places has a public documentation, which converts as a high yield investment and collecting value in the art community.
Display and maintenance
Display, care, and conservation are three key areas you would need to think quickly and deeply about. Most collectors already have wall spaces or ground space for where they would like to display recently purchased artworks, even before they purchase it. Running out of wall or ground spaces in your home or offices, should not be the reason you stop collecting art. You can engage fine art storage companies such as Patrons, to help store and look after your pieces as they are experts not just in storage, but also in maintenance and restorations.
As much as possible, we should all strive to collect art. Art collecting is an investment. You can think of it as a tangible way to build up generational wealth for your family, either in the form of trust funds for your kids, or a dependable pension plan.
Art collecting also has non-investment value proposition benefits for everyone. Recent scientific studies showed that art can improve your wellbeing. Art releases the same dopamine as being in love.
Art Index’s Top 5 monthly - February 2021
Art Index’s top 5 monthly is a showdown of the top 5 well researched and curated art pieces everyone should want to collect, based on strong technique, message, style, and medium.
In summary, my expert advice on building an enviable collection are:
see art as an investment; treat it as such by being intentional about it
but still buy art you really like
if you’re at the beginning of your collection, double down on it.
often reassess your taste in art to see if it’s changed
explore new mediums and styles - just like artists and art evolve, so should you
periodically appraise your current collection to be in the know of the current market value
be an informed buyer; regularly immense yourself in art education by galleries, art advisory firms, and reputable blogs/websites.
ask for advice, you’re subscribed to this digest, my inbox is always open
Until next month’s digest,
Keturah Ovio.
Nice!
Very advisory