Developing a name for yourself as an art collector is an unconventional way of adding value to your art collection. It is hard to quantify the premium that being well-known adds to artwork in your collection, but when it comes time to sell, you may see the sale prices you realise beating expectations by 5, 10, or even 20% due to this phenomenon.
You will have to engage in several different activities to build your profile as an art collector. While engaging in the suggested activities below, you may likely encounter some unique investment opportunities.
How to become a known art collector
You don’t have to be the life of the party to become known in art circles. Simply visiting exhibition openings and talking with other attendees means you can build a rapport and relationships in the art world. Naturally, the conversation can veer into territory concerning art collecting (because you are likely passionate about art, investing, or both).
Donating and loaning artwork
Donating a work of note to a public institution can be an expensive way to build your profile. Your generosity in this regard will not go unnoticed, especially if your donation is credited to you when exhibited.
In a similar vein (although without the same level of kudos), you can lend your artwork for exhibition. The obvious benefit of this strategy is that, while you are credited during the run of the exhibition, you regain ownership of the work after the exhibition closes.
Blogs and social media
Start a blog or offer exhibition criticism on existing blogs and local publications.
Art commentary is an unsaturated market, as it is rarely performed (and generally performed to a low standard IMO). While you don’t have to mention your art collection specifically, your profile as a collector is sure to grow alongside your profile in general.
Your commentary doesn’t have to fit into the typical mold either. Perhaps, as an example, you could pioneer the method of delivering art commentary over TikTok or Instagram. In these cases, you will have to consider what kind of audience you want to become known to and how that may affect the value of your collection.
This is a suggestion, particularly for collectors interested in emerging artists. Emerging artists and art collectors could be described as being in a symbiotic relationship. Emerging artists need the patronage of collectors, while collectors want to purchase art that is cheap and with the possibility of high returns in the future.
(p.s. You can visit the studios of established artists – but they are generally just a little more elusive, understandably)
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