A work of art can be an expensive investment, and the purchase decision is not always easy. An art expert gives tips on how to succeed.
Did the artwork make an impression on you and leave an emotional impression? How much can you afford to spend on art?
Among other things, you should think about these things before buying art for your home. And you don’t always have to buy, you can also borrow works.
Lostedt’s instructions are helpful if you are thinking of buying a work of art for your home.
Where can you buy art?
You can buy art at exhibitions, galleries, art online stores or directly from the artists.
However, the threshold to enter a nice-looking gallery can seem too high.
– I’ve been thinking about what’s causing it. You have to remember that gallery employees can help you find a suitable work, says Mikaela Lostedt.
– Especially if there is a certain place at home where you would like a piece, but you don’t know what kind, you should contact them.
Artists who do not have their own gallery also sell their works themselves. Lostedt encourages contacting the artists through their websites.
– It happened to me that the work I saw in the exhibition remained haunting in my mind. Afterwards I contacted the artist and got the job.
In addition, you can buy art in the online store. For example, Taiko is a Finnish art online store that sells paintings, graphics and sculptures.
Mikaela Lostedt also reminds of \”low threshold events\”.
– You can buy works cheaply from art universities’ bachelor’s and master’s exhibitions and Christmas sales.
At the moment, Helsinki is holding a work brokerage event for sculptors and printmakers, Teos 2022. There are works from almost 300 artists for sale.
What should be taken into account?
Before purchasing, you should think about what kind of space it will be placed in: will it fit, is the lighting sufficient and how do the colors match the rest of the interior.
Tips can be found on social media, for example in various art groups on Facebook.
However, according to Lostedt, the most important thing is the feeling.
– You have to dare to trust that if a work speaks strongly, you should dare to listen. Such a work is often still liked years later, and you never get tired of it.
For Lostedt, it is important to have art at home.
– Art brings wonderful addition and content to your everyday life and life.
What does art cost?
The price range for works of art is large.
Depending on the artist, you can get a graphic print for a few hundred euros. The prices of oil paintings can be several tens of thousands of euros.
If the price is outrageous, you can ask the artist what the price is made up of. It is affected by the materials used and whether the production was particularly slow and demanding.
The artist’s name and career are also important. You have to pay more for works by well-known artists.
– The works of young people are often cheaper than those of older authors. If a young artist’s career takes off, the price trend will also be bullish, says Mikaela Lostedt.
He states that the galleries take their own compensation for selling the works, which is reflected in the final amount.
– When acquiring art, you pay for the work done by someone. The buyer gets a great piece and supports the artist at the same time.
Mikaela Lostedt reminds us that the value of contemporary art rarely decreases.
– But I myself never buy art with investment in mind. I buy art that I want to live with.
You don’t have to buy artworks for yourself. They can be rented from art lending companies, which already exist in several Finnish cities. Works from a wide selection are borrowed for home and the customer pays a monthly fee for them.
How to avoid impulse purchases?
Before buying a work, it is good to find out about its creator.
– It is already a guarantee of quality that the artist has participated in exhibitions and has been taken into account. Their CVs are on display at the exhibitions, from which you can see where the artist has had exhibitions and where they are coming.
In addition to books, one possible source of information is Instagram.
Art historian Mikaela Lostedt advises to follow the development of the artist’s career and whether his works are acquired for public collections.
– If you are unsure, you should ask for consulting help from a professional, he sums up.