Dear Babs, Although I’ve long been an admirer of art, it occurred to me only recently, now that I have a meager disposable income, that I might start purchasing pieces of my own. But the prospect of starting my own collection is seriously intimidating. I recently turned 30, and art collection, to me, has always been for the sophisticated and wealthy—two things I am not. Where do I even start? Is it better to narrow my focus and go for a specific emphasis, or be eclectic? How can I do this affordibly now, and could one’s art collection be a good long-term investment?
—Kelly Suk, Los Angeles
Dear Kelly, These are all very good questions. Living in Los Angeles is a great start. LA has over 300 galleries, and only a handful represent artists that may be out of your league. That still leaves a huge amount of galleries to check out. LA has several concentrated gallery rows, so take time to familiarize yourself with them. In DTLA, there’s Chinatown, LA Arts District, and the unmentionable Boyle Heights District; Culver City; Bergamot Station; Highland/Hollywood galleries. Artists’ work can range from $100 to thousands at these galleries.
I would start with a personal budget and stick with that for at least a year. Prints or fine-art photography are a good way to start, as you can find many in the $100 to $300 range. Focus on galleries that have price tags within your budget, then follow their exhibition schedule and attend their openings. A lot of galleries have summer shows that feature affordable works. Get to know the gallery directors, and tell them what your price range is and what your tastes are. They are salespeople ultimately, and they will work with you.
Another good way to go is benefit auctions. Usually these events come with an entrance fee of $200 or so, but is it usually tax-deductible and for a good cause (and you get wined and dined!). You can find some real gems as most involve name artists, and bidding is fun! LACE auctions—a nonprofit in Hollywood—are always a treat with great bargains by art stars.
Start out buying only what appeals to you. This way, you will always love your piece, whether or not it ends up appreciating. Begin slowly and in time, your walls will thank you, and who knows, maybe your bank account too!
Babs cares. Please email questions to askbabs@artillerymag.com
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