Adding art to your collection can be a huge decision. After all, art is subjective, and if you already have an extensive collection, it can be difficult to know what to add to enhance your collection, increase the value and protect it at the same time.
The value of art is determined by various elements, some of which can be controlled by collectors to boost the worth of their works. A great exhibition schedule, for example, that includes displays at prestigious galleries and institutions, will most definitely enhance the price of the art. A huge influencing factor in the price of the artwork is how popular the artist currently is and how in-demand their artwork is. This is inevitably pushing the prices up as once a new artist gains in popularity, so does the willingness of art collectors to add their work to art collections the world over.
Determining provenance does directly correlate with the piece’s worth. The recorded history of the piece’s owners and whereabouts is the first step to authenticating its originator and origins, especially if the artist is no longer alive. Advisors and appraisers will review the documents to verify the legitimacy of an artwork. The finer points of ownership might contribute to a boost in value.
Take advantage of every opportunity to learn more about the pieces in your art collection. If the artist is still alive, take advantage of the chance to discover more about the meaning and emotion behind each piece you own from the artist themselves if possible. If the artist is no longer alive, talk to appraisers and gallery owners familiar with the piece and its relevance to the artist’s body of work and the art world in general. These particulars must be written down for future reference. Your art collection will eventually grow too huge for you to recall everything.
If any of your collection is stolen, your first resource will be an itemised account of your art collection. This will house all of the paperwork needed to prove that the art belongs to you and where it was before it was stolen. Your insurance company will compensate you for the most recent values and appraisals. As a result, having the most recent value documented is the only way to be rewarded for your artwork’s highest value.
The evolution of your collection is critical to the success of your portfolio. For example, as you collect more Pro Hart pieces, the first piece that piqued your interest will tell a story integral to your burgeoning collection. A well-documented collection offers your artwork the detail and individuality it requires to boost the value of your investment. The integrity of your hard work as a collector can be influenced by a detailed growth of an art collection. If you fail to document the history of a piece of art, it jeopardises its relevance and lowers its worth.