Maksymilian Novak-Zempliński, Incarnatio Series, 2015, oil on board. Private collection. Photo by Artur Krutowicz.
The latest annual report by UBS and Art Basel unveils the secrets of seasoned collectors, offering a treasure map for those embarking on their own collecting journey. Here is what the aspiring collector can glean from the report and put into practice right from the start:
Diversity and confidence: Build a Collection that tells different stories. While painting has its unshakable leading place in collections, the growing presence of works on paper, inkographs, limited editions and photographs in the collections of High-Net-Worth Individuals (HNWI) shows, that diversity is a sign of confidence and appreciation for these more accessible art forms.
The thrill of Discovery: Forge your path with a blend of the known and the unknown. Even seasoned collectors are shifting their gaze towards new talent, with a balanced appetite for both established and emerging artists. Openness to novelty, will allow your collection to become a space of discovery and personal growth.
Global Inspirations: Draw inspiration from the global art stage, where regions like France and Japan are earning keen interest from collectors. Galleries in these areas are hotspots for innovation and can serve as a guide to what’s resonating in the contemporary art world. Let your collection reflect a broader cultural dialogue.
Invest in Stories that Move You: Collecting is more than an investment, it’s an extension of identity. Most collectors place self-expression and pleasure above financial gain. Let your collection be a testament to your personal journey, resonating with who you are and what moves you.
Maksymilian Novak-Zempliński, Incarnatio Series, 2015, oil on board, detail. Private collection. Photo by Artur Krutowicz.
Personal Engagement: Despite the digital revolution, the preference for in-person gallery visits and art fairs is on the rise. There’s an irreplaceable magic in the physical presence of art — a sensory experience that deepens connection and understanding. Whenever possible, step into galleries, meet artists, and engage with the art community face-to-face.
Financial Prudence with a Personal Touch: While the financial aspect is not paramount, it remains a consideration. Learn from HNW Individuals who balance their passion with a measured approach to acquisition, ensuring their collections are both personally meaningful and financially thoughtful.
Begin with Art Basel & UBS 2024 Report’s Wisdom: Harness the findings of the report as your compass. With each statistic and trend, there lies a strategic insight waiting to be applied to your growing collection.
For those with fresh eyes, let these insights encourage the curation of a collection that is a financial bastion and a wellspring of personal contentment. Delving into the world of art collecting is a rich, varied and rewarding experience.
If you’re convinced but unsure where to start, we are here to assist. Please reach out to us.
The analysis in this post is based on data from the Art Basel & UBS Global Art Market Report 2024, authored by Dr. Clare McAndrew, copyrighted by Art Basel & UBS.