YOUR ART COLLECTION: WHAT TO DO AFTER YOUR FIRST PURCHASE
Your works are not only investments, but your dearest companions of adventure.
So treat them with care and attention!
Art collecting, you know, is addictive: shortly after you buy the first artwork you would already like to own the next one!
However, acquiring the second and third work is not so simple: when your collection starts to grow, a series of problems start to arise that you have to take into account for a proper management, enhancement and promotion.
Here are the 4 tips to follow if you want to better manage your collection!
1) Pay attention to the purchase
Buying the work through galleries, auction houses, trade shows or online marketplaces as an intermediary could give you more confidence, but does not exclude due diligence on the work before concluding the purchase. Before buying, you should always be informed about the work and the artist: so check all the documents accompanying the work (from the Certificate of Authenticity to the transport documents if the work comes from abroad). Check the state of conservation of the work by requesting the Condition Report (if you are not sure ask for the opinion of an expert or a restorer) and always buy with traceable systems both to facilitate the documentation of the transaction and not to make even more cloudy a market already not transparent.
2) Catalog to monitor
You want to be a good collector? Catalog your work. Don’t waste time filling in papers: today the Digital Archives are a useful tool to store, monitor and update your documentation. With the online catalog you can archive your works with photos, data and documentation necessary to grant loans later. Remember: exhibiting a work in important exhibitions means enhancing the entire collection, but make sure that all the papers are in order! To do this, always update the archive: this is the only way to have a ready-to-use inventory and monitor the economic and insurance value of the works.
3) Prevention is better than cure
Keep your works carefully, preserving them from physical damage due to climate or unsuitable installation. For this reason, entrust restorers to check the state of conservation of your works and have a Condition Report drawn up in case of loans or movements. In addition, it is always good practice to insure your works both in case of theft and domestic accidents.
4) Transmit for the future
Handing down one’s collection takes on a great cultural, social and economic value, both in the generational and business passages. Taking the right precautions to manage your collection will help you to protect your collection over time, preserving its integrity, beauty, emotional and economic value.
Your collection can become your best companion in life: so take care of it carefully to protect it and enhance it as it deserves.