Where to Buy Art

Preliminary Market

Deals directly with artists. This includes gallerists that represent an artist's new work. For example, Victory Art represents emerging artists and their new work on our website/events.The prices in this market are determined by the artist’s reputation, demand, prices of comparable artwork, material, and labor costs. Here is a further list of players operating within the primary art market:

 

Galleries

Display work straight out of the artist’s studio as well as artwork from their own collection or other dealers Experienced galleries will have specific interests, aesthetics, and focus → Victory art → represents undervalued/underrepresented Eastern European Artists.

 

Retailers

They are involved in the wholesale market. They usually buy art directly from artists at half the retail value and sell them art in their retail store to make a profit.

 

Art Dealers

They are in accordance with trending tastes and are up to date with the latest art news They acquire art in various ways → directly from artists, auctions, estate sales, private dealers, and collectors Resell art on the secondary market through a gallery or consultant.

 

Art Fair

Allows consumers to see the art in person meaning they can participate on a deeper level.

 

Art Advisor

Help clients shop for artwork → understand clients art style (aesthetics), and budget. They use their relationship with dealers, galleries, consultants to negotiate prices.

 

Secondary Market

Pricing works like this: the higher the demand, and the less available their artworks are, the price will go higher and higher. A provenance document is crucial for the secondary market.

 

Auction House

They obtain art that has a high chance of selling from collections and resell it to interested buyers.

 

Museum

Museum collections are often donated by individual collectors or institutions. Please note that most museums are not open to selling their artworks. It is only on some occasions, and with an understanding with the artist beforehand, that works are for sale. This is not to say that you can go strolling into a major museum and ask to buy a master’s work—but if you suspect the works are available for purchase, do not hesitate to ask for a catalog.

 

Before You Buy Art

Make notes and review a list of items of your interest before buying it. For example, you can take a look at this artwork and make notes and reviews about it. You can also check the website that the item is sold to see the price, medium, artist. Your evaluation will ensure it is authentic and priced well.

 

If you decide to buy art online, ensure that there is a reasonable return policy. Requests for the provenance documents before buying an artwork Provenance documents are detailed descriptions of the artwork, ownership history that can be traced all the way to the studio. It is crucial because it proves the authenticity and will increase the value of your art. Make sure to get the original copy of the document. Protect provenance documents by making digital copies which will help prevent loss or damage on the documents.

 

Evaluate Before You Buy

Work with someone you trust for example an art dealer or consultant like Victory Art as they will give you a fair price, necessary information, and a second opinion.

Check out our article, Things to Consider Before Investing in Art, to deep dive further into considerations prior to purchasing art!

Know the Market

- Straight forward and visible things like size, and labor intensity of the artists. No surprise here. 

- Artist's reputation. The more popular the artists, the more expensive the artwork. 

- Demand from collectors. This also usually depends on the artist’s popularity and the trends in art style and artist story. 

- "Value". This one of the harder concepts to discern when it comes to art pricing. The value determines the price but the price does not determine the value. For example, artwork could be severely under what it is worth. The best way to look at it is by judging the artwork’s originality. This means, consider asking questions like does the artwork contains a fresh perspective.

- The medium influences the price. For example, the price will differ between a painting and a sculpture. 

- An artist's life cycle. For example, newer artists have lower-priced art. As the artist gains more footing in the art world, the value of his works starts to appreciate. 

- Consider where the art is being sold- primary market? Secondary market? From a renowned collector?

 

Before Buying

Don’t treat art like a financial investment  

While investing in art is popular, that doesn’t mean it follows certain patterns like the financial market. There is no guarantee that an artwork will increase in value. So, one of the most important factors to consider before buying artwork is to ask yourself: “do I like it even if I potentially stand to earn nothing from it?” 

 

Have a risk threshold and buy within that limit 

- Find the threshold that you are okay with losing and gambling on 

- If you decide to go beyond the threshold → do more research 

- If you are collecting art on a budget 

- Establish a budget beforehand → helps you define what is available and where to look

 

After Buying

Talk to an art gallery in your city or an art collector on how to frame or place your art. Don’t shy away from “dumb” questions. 

 

Create copies of the original documents from the dealer, complete them with official signatures, and be sure to store them securely. 

 

Caring for your art 

Framing: You want to protect your art a well as get a frame that complements the art piece. Choose the right protective glass for your artwork. Here are the options that are available: 

• Nonglare / regular glass. This provides 0-50% protection against UV rays Plexiglass: Acrylic glass that is lightened in weight. 

• It protects against 60% UV rays Museum Glass: 

• Most effective glass Blocks 99% of UV rays. Allows less than 1% of light reflection 

• Consult a local frame store.

How to hang your work: Seek professional help → hire a professional installer

Installation: Keep your artwork away from heat sources like the fireplace and heaters

Shipping and transporting art: Seek insurance when shipping or transporting art as well as review the insurance coverage

Keep track of key contacts: if you’re looking to get more involved in the market, keeping in touch with art professionals will really help.

Ensure the value of your collection: 

• Document the evolution of your collection 

• Catalog your collection:

  • Record the details of each art / the entire collection 

  • Take photos 

  • Number your art

Additionally, check out our article How Does Different Lighting Affect Your Art Collection? to understand how lighting also affects the care process of your art!.

 

If you want to know, even more, check our more detailed guide on how to buy art for yourself and for your office. We are always here to help you to find the right artwork, you can book an appointment with us, and remember, enjoy yourself while in the process!

 

 

 

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