Buying a painting or sculpture for the first time can be really exciting, but it can also be pretty overwhelming. Here are some helpful tips that will help you navigate buying art for the first time.
Buying art is a great way to diversify your portfolio and introduce a whole new range of potential return on investment. And there are so many options to choose from that you're sure to find something that you love.
- Know what you like.
- Set a Budget
- Read the Room
The type of art you choose for a space can really set the tone of the room. Consider what you want the art to do for your space; do you need to brighten up a dull space, do you have a large wall that you would like to fill up. Would a thoughtful piece fit the space better, or would you rather something fun and playful? Is this painting in your bedroom? Do you want to wake up to something cheerful, or would you prefer something that motivates you, like a portrait of one of your heroes.
- What kind of investor are you
All art should be considered as investments. When buying art for the first time, you want to decide whether to invest in a piece by a newer artist, whose work may become more popular with time, or a more established artist whose works are already in demand, and as such, more expensive. Finding the right balance takes some time and practice.
Do you have the space for this?
Available wall space is a big consideration for many collectors. It's okay if you don't have the space for a large painting. You could consider investing in some smaller pieces or consider a less traditional art installation, such as a floor placement. You could also consider investing in sculpture, collectibles, and functional art pieces like furniture.