The Art of Collecting
Building and Developing An Art Portfolio
Collecting contemporary art is a fascinating pursuit. It involves many elements – first and foremost comes an appreciation of art.
Many collectors start off by picking up one or two works that capture their imagination. From such a beginning, their interest grows, and more acquisitions are made. Over time, they come to define their own taste and philosophy, building their collection with increasing sophistication and purpose.
The motivations behind collecting art vary from person to person; some do it for aesthetic satisfaction, some as financial investment, and some to support artists and the development of culture in New Zealand. The true beauty of collecting is that it can be all of the above. New Zealand is blessed with an unusual degree of richness in the visual arts, and that makes for a plethora of opportunities for developing collectors.
Identifying the artists and artworks that grab your attention is an important step in developing a collection strategy. Some collectors like to keep things broad – covering a wide range of artists and types of artwork, whereas others like to go deep – focussing on specific artists, a particular medium such as painting or photography, or a particular period of output. The breadth and depth of this country’s cultural output is such that all options are viable. Whichever approach you take, an important key to collecting strategy is ongoing development of knowledge – keeping an eye on the artscene and the market.
Collecting can also be a powerful form of financial investment – though unlike a lot of other investments, art collections include the added dimension of aesthetic pleasure. Some collectors have seen incredible market appreciation of the art they hold. There are several approaches that can lead to financial returns on an art collection – perhaps the two most common are buying established names and picking the next big thing. Works by big name artists – such as Colin McCahon, Rita Angus, and Gordon Walters – are likely to hold or increase their value in the long term. Picking an artist before they get big is a riskier approach, though sometimes reaps greater rewards. Whichever approach, astute collectors learn how to find works that will have enduring appeal.
Some of New Zealand’s most sophisticated collectors have included Les and Milly Paris, Jim and Mary Barr, and Jenny Gibbs. These collectors have acquired works with dedication and focus, developing collections that have cultural significance in their own right. The Parises, for example, began collecting New Zealand art in the 1960s. Over more than 50 years, their collection grew to well over 200 pieces. It became known and reputable among artists, art dealers, curators and other collectors. It was sold in 2012 for over $4.5million and garnered significant public attention.
Collecting art isn’t just an activity for the superwealthy. Whatever your budget, there are opportunities to collect New Zealand art. If you are building a collection and would like professional input, get in touch with our team of specialists. We understand every aspect of art collecting and have full view of the market. Wherever you are in your collecting journey, we would love to share our insights and expertise with you.
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