Our first COLLECTOR’S FORUM workshop was this Friday, and the gallery was packed! We covered every angle of art collecting, from buying and selling to consignment agreements, insurance and art conservation. Event participants received a special packet at the end of the event with a comprehensive write-up on art collecting by Lawrence. Check out his beautiful introduction on the ‘passionate pursuit’ below, and come to our second workshop on Friday, October 24 to see our presentation and get the rest of the packet. Seats are limited, so make sure to contact us if you’d like to reserve a spot.
Lawrence Matthews and Matt Horowitz discuss a 17th century painting attributed to Jean-Baptiste Monnoyer
Close your eyes for a moment and think of a great piece of art you’ve seen and remember the way it made you feel. Was it was a sculpture, a painting or a drawing? Maybe it was a portrait or a landscape or an abstract. Maybe you saw it in a hometown gallery, in an artist’s studio, or in Paris walking through the Louvre. Wherever it was, remember that moment where you were overcome by that artwork, when you were flooded with a feeling that that swept you outside of yourself and put you in touch with something powerful and moving.
That is the true essence of art. The feeling you remember connects you to something deep within the human spirit and reminds you of what it means to be truly alive. It has nothing to do with money or the fame of the artist or how the art decorates a room. It has to do with the pure joy of imagination and creativity and our desire for beauty and intellectual enrichment.
Now, imagine another scenario. You and your spouse live in a small apartment. You both have low paying jobs but are passionate about art. You develop a plan and over the course of several years of collecting you amass 4,782 artworks many of which are considered masterpieces. You even give 2500 works from your collection to 50 museums around the country. You do all this when the highest yearly salary you ever earned was $23,000. This is the story of Herb and Dorothy Vogel – two of the greatest art collectors in recent memory.
How did they do it with so little money? First, they developed a plan, then they learned as much as they could about art – they read; they took classes; they talked to artists, gallery owners, museum curators and other collectors. They became knowledgeable, focused on the type of collection they wanted, and excited about building it. Eventually they built it into one of the greatest art collections of the 20th century.
Collecting art can enrich your life and potentially create a valuable asset for you and your heirs. Following are strategies you will need to create, maintain and grow your art collection whether you decide to focus on just a few pieces or enough to fill a museum. These insights and practical advice will help you achieve your collecting goals.
Building an art collection involves four main areas:
1. Learning About Art
2. Buying Art
3. Caring For Art
4. Selling Art