A Beginner’s Cheat Sheet to Buy Art on Any Budget

Most of the art lovers are the ones who aren’t able to buy art because they don’t have enough money to invest in it. And you have probably by now completely started believing in the preconceived notion that art collection is an expensive affair and buying them is only in the capacity of the rich and affluent class.

However, there are many smart ways to buy art on any budget. You just need to learn the art buying game. Going to auctions, fairs, open studio events, and end of year student shows can get you the artworks that have the caliber to rule your heart for a lifetime. This way you can buy Indian art, modern art, and abstract art and can even buy contemporary art pieces in the budget you set. Learn to bargain, stay alert for the opportunities and begin your hunt to buy art today. Keep reading to know how.

GET A MAP

Get yourself a gallery guide of the city you stay in or wish to explore the galleries of. You will find many art galleries, local shops and a hub of gallerists, artists and all of them together will be enough to baffle your mind. Hence, it would be a smart move to filter the galleries you would be visiting beforehand. We are saying so as visiting each and every gallery will be nothing less than a waste of time. You might get to learn about various works but won’t get close to your aim to buy Indian art or any other art style you like.

CHECK PAST SALES

When you tend to fall for a particular artist’s work, you should check the past sales record of that artist. You can find the price database online or offline by asking the gallerist or the artist to provide you with the same.

NEGOTIATE

After doing some research from your end and seeing the sales record of the artist, negotiate. While negotiating the price, try to back it with some quantitative data from your research as that can validate the price you have quoted for the work. You can negotiate till 5 to 15 % as that is normally the price that the gallerists are willing to lessen the price. The artist gets only half of the total price and the rest goes in the pocket of the gallerist. So, you have got all the rights to negotiate, don’t hesitate.

DON’T TAKE ANYTHING PERSONALLY

Some galleries don’t like selling things to a buyer whom they consider to be less affluent or less serious about art collection. Leading dealer, whether resellers or gallerists have a concern in their mind that they need to hand over the paintings they have to someone who can protect the work of that artist. So, sometimes it may happen that even when you will be willing to buy Indian art online or any other art that you like at the price quoted by the seller, he still will find excuses to not to sell it to you.

So, don’t lose your cool and simply walk out from that gallery and look for galleries and sellers who are more welcoming.

ASK TO PAY IN INSTALLMENTS

As we told you already, gallerists like to sell the work of famous artists either to a public institution or to someone who really seems to be a serious art collector. So, make it clear to the seller that you really like a particular artwork and aren’t seeking immediate monetary benefits from it. If he ends up believing you, he will readily sell it to you, even if you won’t have enough money at the time of making the purchase. Ask him to pay in installments and chances are he will agree upon that.

FIND THE RED DOT

If an artwork has a red dot and is still displayed in the gallery, it means that it has already been sold. Even if it’s on the wall or on the price list, don’t set your eyes on it as you won’t be able to buy that. The gallerist has already sealed the contract with someone else.

KEEP ALTERNATIVES IN MIND

Suppose you want to buy Indian art piece which is way too expensive, don’t buy it. If you will buy that work even after knowing it can dig holes in your pocket, no one would be more regretful of this decision than you later.

Lastly, always remember, buy less but buy that which is full of quality. You don’t need to rush the process or keep buying it unremittingly. Just buy the work that is good and fit in your budget.

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