Art Collector’s Guide: Reasons to Buy Art From Emerging Artists
Regarding art, collectors tend to go for art by established artists because they have proven themselves as less risky investments. However, the rewards of investing in art by an artist just starting their professional art career can outweigh the financial risk. For example, discovering an artist at the right time can be a great way to form an incredible collection on a budget. Affordability and many more reasons on why you should buy art from emerging artists- I will discuss them in this article.
What is An Emerging Artist?
An emerging artist is an artist at the beginning of their art career, starting to achieve attention in their geographical region. Typically, an emerging artist has been practicing for less than ten years, regardless of age or education.
During the initial phase of an emerging artist's career, they are actively working towards growing an exhibition record, awards, publications, reviews by art critics, international visibility, etc.
Affordability is one of the top reasons to buy art from emerging artists. It is during the early period of an artist's career that art tends to be affordable. What do I mean by "affordable"? Well, affordability is very subjective. Still, in general, art by emerging artists in areas within developed economies, such as USA and UK, tend to sell art under £10,000.
The more international recognition they gain, the more prices will increase, following the fundamental law of supply and demand.
You have the money, and the artwork you want is available for sale. So why is the gallerist not selling it to you? Lack of access is a scenario many new collectors face when buying art for the first time, especially from established and blue-chip artists. Unfortunately, the large number of speculators who buy art to turn around and flip it at auction for profit has left many gallerists putting extra measures to protect the careers of the artists they represent. The over-speculated market means making art less accessible to new collectors.
However, buying art from emerging artists is very accessible. During this stage in an artist's career, they need buyers to support their art practice to grow. They need as many people as possible to help them at this stage. Therefore, they are happy to make their art accessible.
Support an artist's career
When you buy art from an emerging artist, you directly affect a living artist's career path. Your financial support allows artists to have a shot at a very competitive career. During this stage, artists need collectors' support the most.
Discovering and supporting emerging artists also allows you to see them evolve into their artistic practice and enables you to acquire artwork from them at different stages in their careers.
Potential financial returns
Of course, we must recognize the potential financial return of early investment. Like any other investment, it is all about timing. The artist you choose to support early in their career may grow to have a lot of international success, meaning that their prices will go up, making you an early investor whose art just went up in value.
For example, USA art-collecting couple Herbert and Dorothy Vogel created one of the most important art collections of the 20th century by being able to recognize talented artists early in their careers. Living in a small one-bedroom apartment on civil servant salaries, they bought affordable artworks by now blue-chip artists that sell in the millions by artists such as Roy Lichtenstein, Julian Schnabel, and Jeff Koons. In 1991, the National Gallery acquired the Vogel's collection with an estimated value well into the millions.
Promote change in the art world
You can promote the change you wish to see in the art world. That is the beauty of purchasing power. Do you want to see more artists that are female, non-binary, Latin American, African, etc., represented in museums and other art institutions? Then make a conscious choice to buy art from such artists. In other words, put your money where your mouth is. Every art purchase is a vote in the art world, and by knowing this, you can contribute to an art world that is more diverse and conscientious than ever before.
If you want to discover talented emerging artists to begin investing in their careers, I can help. As an art advisor, I do the research so that you can make informed decisions when buying art. With my help, you can discover artists that best fit your taste, space, budget, and goals.
You can contact me here.