Amy's Thought's On All Things About Becoming A Professional Emerging Artist

7/13/2020 9:11:15 PM

Art Collecting for Beginers, for Family, and for Investment

Amy Carter-Ishmael / 1 Comment

A Focus on Art Collecting and Collection Building

Amy Carter Ishmael, a former Antique and Art Dealer turned Artist believes a customer’s style is important in their selections.

 

Have you ever wondered how to buy original art to decorate your home?  Do you wonder about decorators’ selections and if they will suit your long-term tastes?  Starting an art collection can be intimidating for the beginner art collector, yet it doesn't have to be intimidating, it can be an endeavor for turning your house into a home.  

 

Decorators can be an artist’s best friend.  They usually select color schemes, and furniture styles and they are aware when a piece “will fit” with their furniture choices.   However, we are entering an era of the consumer understanding what they like regardless of if “it fits”.  It’s often referred to as” eclectic”.  Ever try and blend the furniture from two households of young professionals?  Enough said.

 

Art collecting is similar.  You do not want to change your art every time you change your furniture.  You want your art collection to grow with your tastes and family history.  You want your art collection to double as a possible investment.  An investment in your home, in your family, and perhaps one day, help you as you upsize your family.

 

So how do you do this?  First, know your personality.  Second know your budget.  Third, consider other members of your family.  You want to buy the best art that you can afford without thinking this means the absolute most expensive art.   For millennials, who may be beginning art collectors, you want to find that first piece of art that speaks to your heart and mind. 

 

Everyone has their opinion on what pricing should be for a first piece of art.  When I know that people of all budgets enjoy art, and have differing ideas of budget, it hard to recommend the right amount, so I ask my clients. 

 

Recently, I asked a couple who wanted a piece for a specific art nook in their home, what their budget was for the work.  They hesitated.  I asked, "May I ask if budget is even a consideration for this work?"  They replied that $3000 dollars was about what they would want to spend.  

 

However, they had not yet considered their youngster in the equation.  I offered this blog article to them once I was at a computer.  I ended up offering a private consultation in their home, and due to their differing tastes, this option makes sense for them.  We will see if they contact me about it.

 

In the meantime, I suggested, perhaps they might consider for this year, splitting the budget between two pieces of art, one for each of their tastes.  That is sometimes a way to get them both on the same team, as art collectors.

 

If you try and build an art collection all at once, you are assuming you won’t grow your interests.   Try buying an important piece of art that makes your whole family feel good, and then a special piece for each member of the family.  This allows them to participate with you in a hobby, that helps your house become a home.  Do this each year with some family funds.  A great way to begin and build your collection.

 

Have fun and enjoy growing each family members’ collection while they are young, one piece for them at a time, each year.  You will end up gifting a collection to each child once they leave your home to create their own. You may find your generosity gets it's own thread in a Reddit post.  What a wonderful legacy to give them, an art collection to put on their first walls of their own, and a story to share with their friends.

 

By the way, when they begin buying their first art work to add to their collection, some experts say $300-$1000 is a range for millennials to spend, yet they may have been confusing that with a prized pair of shoes!   (Can I get a witness?)  However, Ellie Rines of a gallery in New York, was quoted in Widewalls Magazine, as giving a range of "$500 to $700", and she's a millennial. 

 

As  I see it, this range is a great topic for parents to address with their young adult children, in the learning curve we face, when moving from parent role to fellow art collector/ trusted advisor. 

 

Amy Carter-Ishmael is an American Landscape Painter in Oil and Pastels, A Trained Printmakers, and Sculptress, a beginning jewelry designer, and an avid art enthusiast and blogger and newsletter writer.

 

 

 

 

 

 

 

 

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