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The Iconic Edition
Culture
|7 Apr|4 mins

A Beginner's Guide To Buying Art

Need a little something for those blank walls you’re staring at 24/7?

So, we’re all spending a whole lot more time at home and those blank walls are feeling, well, emptier than ever. When it comes to investment pieces, you have to think long-term. These are your forever pieces. If you’re looking to get into the art game, but aren’t sure where to start, good news: we’ve checked in with the experts at Leonard Joel, largest Australian-owned and operated auction house with more than eight decades in the game, for their how-to.

Eric Thake's Hippobottomi, @leonardjoelauctions

Break it down for us … why is art a good investment? 
“A piece of art should make you happy, evoke something. It's an investment that you can appreciate and enjoy every day. ?

Tips to make sure you are buying right? 
“It's always the right choice if you love the work. Beyond that, don't be afraid to get advice from the specialist or consultant you're dealing with, and do your research into the artist. Does their approach resonate with you? Knowing more about the artist can enhance your appreciation for the work. As with any purchase, if it stays in your mind, then trust your gut and take a chance!?

How can you make sure you're getting the most for your money? 
“Again, research is key. Public records for previous sales results for the artist will give you a clear indication of what price to expect, and are easily accessible. Ultimately, as a buyer you need to set yourself a budget, and determine what is a suitable amount of money to spend on a piece of art, for you. The beauty of auction is that sometimes you will end up spending less than you anticipated, leaving you with a little more to continue building your collection.” 

What's the best way to build a collection?
“Prints & Multiples are a great way to start your collection, being at a more accessible price point than an original work. Fine Art prints are works of art in their own right; a result of a careful partnership between an artist and a print studio. When you begin collecting art, your natural tastes will shape your collection to be something that reflects your personality.”

Spencer Tunick, 2019.

Good news: Leonard Joel Prints & Multiples auction is coming up on April 8, and among the collection are the works produced by Spencer Tunick for our WE ARE HUMAN campaign a few months back. Check them out here and here. This is the first time (ever) Tunick’s work have been available on the secondary market. 

In better news still, 100 per cent of proceeds from the sale of these works will be donated to our charity partner, Thread Together, as they continue their work helping those who need it most, deliver new clothes and shoes to those in the community who are doing it tough – including those affected by the recent bushfires, the unemployed, those in emergency accommodation and many more that may find themselves vulnerable during our current global health crisis.

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