The art of buying art

Art collecting should be a fulfilling passion, not a financial burden, says Akara’s gallery manager Shreemoyee Moitra; Having conversations with artists and gallerists can change a purely aesthetic or decorative object into a truly emotional piece, says interior stylist Samir Wadekar; Buying an artwork is a bit like falling in love; it has to be purchased from the heart first, says senior artist Brinda Miller

Next week, the city will play host to its inaugural art fair - Art Mumbai, an immersive celebration planned for four days, which encompasses everything from art showcases by galleries across the country and the globe, to live performances, and even culinary experiences. While art fairs - brimming with creativity and potential at every corner - can be likened to treasure troves for the keen-eyed collector, for the uninitiated or the budding art enthusiast, they present a vibrant mosaic of opportunities to not only witness the sheer spectrum of contemporary art, but more crucially to take the first steps towards building a personal collection.

Navigating these bustling arenas of artistry, however, can be tricky and comes with its own set of rules and rewards. With clever tips from seasoned stalwarts in the art industry and Mumbai's tastemakers, there are a number of strategies to enhance your experience, especially if you're a young collector.

"The key starting point for any budding collector would be to constantly look, see, and train the eye. It's a better idea for young collectors to start small and local, and if you cannot afford a more prominent artist, consider original signed prints to start with. I'd always recommend supporting emerging artists as they are affordable, and you're helping them begin their career," says Shreemoyee Moitra, gallery manager at Akara. Galerie ISA's director Ashwin Thadani offers a similar perspective: exploring young, emerging artists' works allows collectors to grow alongside the artists' careers and witness their evolution. "It can be inspiring and encourage a long-term commitment to art collection at a young age," Thadani says.

Moitra emphasises the importance of provenance, as well as preserving and documenting one's own collection in the long run - to craft a unique story as a collector and safeguard your investment. The gallery manager adds that building relationships with curators and galleries can help a collector understand market values for the future. "Art collecting should be a fulfilling passion, not a financial burden, and budget constraints are more common than you'd think. Stick to your budget and avoid impulsive purchases," Moitra advises.

There's much value in keeping an eye out for artworks with layered meaning, and artists who use unusual or rare mediums, tools and techniques. "Having conversations with artists and gallerists can change a purely aesthetic or decorative object into a truly emotional piece, which is extremely important for me while making a purchase," says Samir Wadekar, an interior stylist and decorator.

When making a selection, the placement of the artwork in the collector's home should be a consideration. "For example, one must avoid placing watercolours or gouache works near a window as direct sunlight will fade the painting; or placing paper works in a high humidity area, such as a bathroom, will deform them. Another key tip is to factor in the viewing distance for a work; a lot of larger artworks need a fair amount of depth of space to be admired. If space is limited, I would advise experimenting with a cluster of smaller works in different styles and mediums," the stylist recommends. Given that an artwork's lifetime outlasts the style of the time or even the collector's home, it shouldn't be bought purely to fit into a home's interiors, he adds.

Artist Brinda Miller builds on this sentiment - that collectors must understand that they have to live with what they buy. That being said, collecting is far more complex than a series of critical financial decisions. "If you're buying an artwork, think of it as more than just a mere investment. It's a bit like falling in love, and has to be purchased from the heart first," Miller says.

"The best test of an artwork's aesthetic value is how memorable it is. A good work of art will lodge itself in your mind; a great work of art will possess you. Such works urge you to be curious and ask questions about their making, leaving you with a surplus of meaning and a philosophical excess!" says cultural theorist and curator Nancy Adajania.

To build a cohesive collection, she says, it is important to stay away from the allure of the top 10 pieces, or the works that are in the headlines at the moment. "Instead, be open to surprise, looking at the works of artists who are working quietly away from the limelight but have consistent studio practices
devoted to the pursuit of excellence," she explains. Collectors should also voice what they love about the artworks they have their eyes on. "By making your enthusiasm and passion for the work transparent, you will gain the respect of the gallerist and prepare the ground for a favourable negotiation," Adajania says.

Those who are new to collecting should also know that not having purchased an artwork isn't a failure: You can walk away from an art fair empty-handed, but so much the richer for it. As Renjie Wong, area director at the Singapore Tourism Board, puts it, "More than anything else, art fairs are an opportunity for broadening one's horizons: the one time so many different minds come together to present their own perspectives on culture, politics, and new thinking - like a museum
on hyperdrive."