Welcome to Part Two of the art I’ve collected in 2010.
A couple tips for art collecting:
Keep detailed records – When you purchase an artwork, ask for an artist statement and/or biography. Make sure you know the title and year it was made (sounds obvious, but is a detail that can easily get overlooked). Keep a file for each artist that includes any information you have about them, and a listing of the works in your collection (including certificate of authenticity or purchase receipt).
Have a master list of all artwork in your collection that includes the following information (I do mine on an Excel spreadsheet): Artist name, Title of Work, Medium, Dimensions, Year Created, Where Purchased, Date Purchased, Purchase Price, and Current Value (if applicable). If you just bought the work, the purchase price is the current value (unless you got a discount for some reason). But this may change in the future (see below). Make sure you back this file up and print out a hard copy periodically.
Insure the work – Call your insurance agent for more info, but make sure to insure your art collection for what it would cost to replace all of the work. This is where your master list comes in handy, because you can send it to your insurance agent so they can see the entire value of your collection. Also make sure you update the current value of your artwork every few years to allow for increases in value, inflation, the artist become an international art star, etc. If you’re not sure of the value, get appraisals from an expert (and keep these in your records).
Do this to make your life easier later on (or your kid’s life, after you’re gone – they will thank you!) — artwork increases in value over time (sometimes by a lot)! Doing all of this makes sure that your artwork can be easily authenticated and valued in the future. Not to mention that every time somebody asks you about a piece in your collection, you can easily pull out information about the artist without relying on your memory (which, if it’s anything like mine, is a very good thing)!
Here are a few more newly acquired pieces from artists whose work I enjoy and find interesting day after day:
Mindy Sue Wittock, Cupcakes, Textiles
Different View: Mindy Sue Wittock, Cupcakes, Textiles
Tashana Kjelland, Showers, Pen on Paper (trade with the artist)
Sarah Neuburger (aka The Small Object), A is for Artistamps, Limited edition print on gummed perforated paper (56/100)
Detail: Sarah Neuburger (aka The Small Object), A is for Artistamps
Also, Today is the LAST day to enter the art GIVEAWAY I have going on a few posts down. Simply comment on the giveaway post to enter! You have until Midnight.