If you think you need to be a millionaire or have a degree in Fine Art to start collecting art, you're wrong! According to Alvin Hall all you need is a passion for art. Support it with some research and you could be on your way to becoming the next Charles Saatchi. Alvin explains...
What kind of things should I look out for when selecting an artwork?
That depends on whether you’re looking to buy art to decorate your home, to create a personal and private reflection of your interest in art or to build an important collection. In the first two instances, it’s important to buy what you love, what touches your heart and what fits in with the pieces you already have. If you are aiming to build an important collection of older or contemporary art, then quality must always be your primary concern. Buy the best pieces - the most exemplary pieces by an artist that you can afford - even if it means buying only one or two great pieces a year. Quality is more important than quantity.
What medium is the best to invest in?
If investing is your objective, then you should buy paintings. And those paintings should be the best of the blue chip artists of our time or of the past, with proven auction results at places like Christie’s or Sotheby’s. If you think that buying young, unknown artists at their graduate shows is investing in art, then you are unaware of the statistics about how many of these artists end up being totally unknown. Great expertise is required to make good investments in art and this takes years to acquire.
What’s selling at the moment?
Everything that’s really good and interesting seems to find buyers these days, regardless of the price. At the top art fairs it’s an art buying frenzy when the doors open. The desire to own art extends to all areas of the market, whether it’s paintings, drawings, prints, photography, video, sculpture or installation pieces. For the most collectable artists, galleries have established waiting list for their new works.
Do you advise the same caution when buying art as you do with other consumer purchases?
Always buy from a reputable dealer and think before you buy. Don’t give in to pressure to "buy now" if you have doubts. It is often impossible to return or exchange a piece of art once you’ve paid for it.
I understand you’re an avid collector of contemporary art – what do you collect and why?
I would not describe myself as avid any more. I’ve gone through that phase and am a more thoughtful, targeted collector. I try to collect certain artists in depth. I view as much art as I can from all periods, but I only buy contemporary art.
My collection consists of photography - Tina Barney, Nan Goldin, Annette Messager, Larry Sulton, Katy Granan, Lorna Simpson, David Wornajovicz; drawings - Julie Mehretu, Gabriel Orozco, Raymond Pettibon, John Bock, Barry Le Va, Kay Rosen, Alexander Ross; sculptures - Christian Marclay, Jack Pierson, Tony Feher; paintings - Glenn Ligon, Carroll Dunham, Sue Williams, Peter Doig; and prints - Kara Walker, Kiki Smith.
I started collecting simply because I love art. Art requires a totally different set of mental skills from those I use in my business life. Responding to art is much more intuitive – it’s from the gut, compared to dealing with people and their money. Simply looking at art is one of my favourite forms of relaxation and inspiration.
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