Art collecting has much to do with passion, as you will find that some of the most avid collectors will happily spend exorbitant amounts for a one-of-a-kind piece. Others still will look into the best ways to purchase emerging art, as they try their best to invest not only in the piece but the new artist. It’s a fantastically passionate industry with many opportunities to make the most out of a career in art collecting.
That said, with money and passion comes crime, and you will always read about situations where a buyer spent a lot of money on a forgery. It’s a shame, but it’s something that can be avoided with the right mindset — especially when you buy art online from companies that focus on selling the pieces of emerging artists. Here are just a few ways to help you avoid scams when collecting art.
The importance of buying local
For those that are serious about investing in emerging art, one of the best ways to ensure that you are not scammed is to work with people that you can meet in person. The problem with dealing with people from other areas is that it can be too easy to make excuses and potentially create problems. Even with the ongoing pandemic, the best thing to do is still ensure that you can meet with the dealer locally to talk about the piece and how best to move forward.
Whether buying or selling art, your chances of success are higher if it happens to be within your area. Otherwise, expect there to be potential problems that come from purchasing outside of your region.
When purchasing online, research is paramount
In the case where you decide to purchase emerging art online, ensure that the heart does not overrule the mind. Research takes precedence over everything else, which involves either researching the artist and the works yourself or hiring an expert to research for you. The same thing goes for appraisal, which is recommended before any purchase. To ensure that things go smoothly when buying anything online, ensure the dealer’s website is reputable and well-known. Many websites out there claim to be reputable, but can sometimes have false information that makes the web owner’s true whereabouts unknown. Be vigilant with research, and only go for online dealers with enough of a positive reputation.
Make sure to track your purchase!
Whether locally or online, you must have a traceable record of emails and invoices leading from the source to the eventual owner. It would be best to document the entire process, especially if it is a piece of emerging art you intend to resell. Otherwise, damage incurred during the process can cause plenty of trouble for any collector looking to sell their works.
While it might be somewhat pessimistic to err on the side of caution no matter the scenario, investing in emerging art can be an expensive hobby — and anything expensive often has individuals looking for ways to cheat the system. Whether buying or selling, the tips above will help ensure that you are never scammed.
