COLLECT: Not A Billionaire? You Can Still Be An Art Collector

Posted on: November 9th, 2011

ForYourArt’s founder Bettina Korek shared her suggestions with Forbes on how to become a collector.

Most of us do not have the resources—or clout—of billionaire collectors, but starting an art collection is more affordable than you think.

First and foremost, Korek emphasizes becoming a patron as you begin to acquire artwork; it will give you access to curators, artists and a broad spectrum of other collectors and advisors who will be able to inform your own decisions about what to purchase. MOCA Board President and longtime collector Jeffrey Soros echoed: “Without supporting a museum or an arts organization, the collector is just a tourist in the art world gathering souvenirs. With the support comes citizenship.”

By educating yourself about the market (by browsing gallery websites and auction catalogues like Sotheby’s, Christie’s, Phillips de Pury, and Blacklots), you’ll be on the right path to collecting work you really want. Next join a museum or nonprofit support group. FYA maintains a list for Los Angeles and New York. And build a library. “Books in themselves can be art objects,” says Korek. Read more about Korek’s steps to becoming a patron here.

 

by Alexis M. Johnson

Also see Finding an Art Advisor: Nancy Chaikin

Image: Courtesy Emmanual Dunand/ AFP/ Getty Images via @daylife

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