December 15, 2006

Dear Young Collector,

I hope this letter finds you well. As promised, here is my follow-up to my previous note.

So. You’ve heard that it’s cool to buy contemporary art; you think you might want to buy something, but you don’t want to throw your money away. There’s so much art around – how do you know if it will be worth anything one day? How do you know which gallerist to trust?

Image: Epo-kem.com

First, make sure you want to begin collecting because you have an interest. Whether it’s an interest in a particular media or just a curiosity to see what’s out there, collect because you love what you’re buying – not because you’re hoping to one day make a profit.

One of Ydessa Hendeles’ previous shows. Image: ccca.ca

How do you know whom to trust? Well, the short answer is, you don’t really. Look for dealers who are members of ADAC – the Art Dealers Association of Canada. Look for dealers who do art fairs…it means they have a commitment to their artists.

One thing to remember is that today, the quality of a gallerist is as important as the quality of an artist. There is so much art, that proper representation is necessary for a young artist’s career to prosper.

STEP 1: BROWSE
Here’s a list of some excellent Canadiana galleries to get you started:

In Montreal there is Galerie Rene Blouin, Pierre Francois Ouellette, Societe des Arts Sur Papier and Projex Montreal

In Toronto there’s Clint Roenisch Gallery, Birch Libralato, Jessica Bradley Art & Projects, Monte Clark Gallery and P/M Gallery

In Winnipeg there’s the online Othergallery

In Calgary you’ll find Skew Gallery and Trepanier Baer

In Vancouver there is Catriona Jeffries Gallery and Tracey Lawrence Gallery.

These galleries all represent quality artists, and each of these dealers really knows their stuff, investing time and money in their artists’ careers. You could use this as a guide when you’re starting out.

Ask questions. Gallerists are there to guide you. They fully expect you to ask for information about work that interests you, and don’t worry; you needn’t know anything about editions, prices or methods involved in an artwork. Most importantly, as I mentioned earlier, make sure that you love what you buy. Never buy just for resale potential – the art market is notoriously fickle.

STEP 2: READ
The more you read, the greater your chances of success.

If you are looking to discover the best and the brightest upcoming artists, pick up magazines like Canadian Art, Border Crossings, Art News, Art Forum, Frieze and Modern Painters.

Artnet.com is a smart, easily readable online magazine. And of course for a view on Canadian art, there’s VoCA! Don’t look at it as a job, just read whatever takes your fancy. If you see an image you like, read about the artist. Google his or her name and read as much as you can about the work.

STEP 3: DETERMINE A THEME
By now, you should have an idea of what type of art you want to collect. For beginning collectors I would suggest something relatively accessible (and affordable) like Emerging Artists, Photography, Prints, Artist multiples, even artist books, Video or whatever takes your fancy.

Art Metropole, Toronto, home of the artist multiple. Image: onestarpress.com

Having a theme allows you to focus your research. You can diversify later, but if for example you collect photography, you can familiarize yourself with market intricacies straight away and buy what appeals to you within that. Remember, you are going for longevity. There’s nothing wrong with having a few bare walls while you look around to find the right artwork for you. You should never feel pressured by a dealer. After all, the artist will continue making more work. That said…

Image: hotel-stella.ch

STEP 4: CONSIDER YOUR PURCHASE
Once you have an idea of an artist whose work you might like to buy, you should start thinking about pricing. Dealers try to generate excitement and interest around their young artists, because as interest grows, so do prices. Make sure the interest is justified. Make sure that you understand why the artist is being hailed as the next big thing.

What is the dealer’s record? Have the artists works been bought by any museums (a hallmark of value)? Does the gallery do art fairs? Which ones? Has the artist been part of any other exhibitions? (Museum and international group shows add importance.) Who has written about the artist? Check the artists’ bio and CV carefully.

This is very important: I (personally) believe that the best artists have post graduate education, though not necessarily in art - because a secondary degree is often enough financial investment for them to generate the necessary ambition to succeed.

STEP 5: GET THE DETAILS RIGHT
Is the work signed? Is it part of an edition? Will the gallery include a certificate of authenticity on the back of the work?

Image: codart.nl

How long will the artwork last without fading or cracking? If it doesn’t, how will you be compensated? Will the gallery install the work for you? How is it framed? Is the work protected against light damage? Will you be kept up to date on the artists’ career? Can the gallery arrange for you to meet the artist? These kinds of questions are important.

FINAL STEP: DIVERSIFY
Once you have purchased your first few artworks, you have the makings of a collection. Your choices needn’t be dictated by medium, however. Looking at historical precedents for contemporary work can help define a contemporary collection.

Ydessa Hendeles Art Foundation, Toronto. Image: digitalmediatree/sallymckay

Great inspiration can come from visiting well-curated shows at museums and galleries. One that I highly recommend, if you haven’t been already been, is the Ydessa Hendeles Art Foundation at 778 King Street West in Toronto.
It’s open Saturdays, 12 – 5.