Whilst we often see headlines about record-breaking auction results, collecting art doesn’t have to be a distant dream, you can build an impressive art collection without breaking the bank and have a richly rewarding experience in the process.
If you’re just starting out and have a limited budget, investing in small-scale works can be a great strategy, and drawings and etchings can also come at a lower price point than larger paintings. Doggy Radio by Yoshitomo Nara can be purchased for under £5,000 - a fantastic price for an artist who has previously achieved record-breaking results of over $25 million.
Any works created as part of an edition – a term used to describe a limited series of identical works – can also prove more accessible. This includes prints and photographs, which are becoming increasingly popular. It’s possible, for example, to acquire work by the acclaimed British photographer Terry O’Neill for under £4,000 – allowing you to introduce one of the world’s most renowned names to your collection, whose subjects include the Rolling Stones and the British Monarchy.
While it is possible to acquire works by established names for under £5,000, focusing on emerging artists is another great way to acquire stunning works at reasonable prices. In choosing to support young artists, your money will not only go further, but you’re likely to be among their earliest collectors – a factor which could turn your purchase into a sound investment, as their market grows. Banksy's Balloon Girl prints, for example, cost £150 when they were first sold, but now go for over £300,000. Emerging artists to watch out for include Lefty Out There, whose signature squiggles and marks have been gaining worldwide recognition. You can purchase his diamond-dusted screenprint Undique for under £600, or one his original paintings for under £5,000, offering a great opportunity to support an emerging artist.
Making an investment over £10,000 can be overwhelming if you aren’t experienced in the market, this is where turning to art advisors can be very beneficial. At Maddox Gallery, our professional team of experts can help you find a piece that you love and guide you through the process to shortlist works.
At this budget, you can introduce an original painting from an established, mid-career artist into your collection such as The Connor Brothers or Mr Brainwash. An original version of any artwork is a lot more desirable and more likely to be prove a valuable investment long-term. Purchases don’t need to be restricted to paintings, if you are a more experience collector either: consider sculpture or ceramics.
If you have no strict budget, you are in a great position to purchase stand-out investment pieces and introduce well-known and established artists to your collection such as Banksy, Jean-Michel Basquiat, KAWS and many more.
If you are intending to make a large investment, it’s important to keep a finger on the pulse of the current art market and seek advice from your art advisor. Make it a habit to regularly check on auction prices and research the artist's career, popularity and scope of work which will impact the piece's price. More importantly, also ensure you are following your heart and love the piece itself.
Within this budget, you should look at investing in legacy pieces by blue-chip artists who have helped shape the history of the art world. A great example is Banksy, given that he offers commentary on social and political issues, his work is not only a piece of art but an insight into world issues which will remain relevant in the years to come. Similarly, issues portrayed in the work of artists like Andy Warhol and Jean-Michel Basquiat over 50 years ago is still pertinent today. Basquiat’s commentary on race, self-identity, and religion and Warhol’s take on celebrity and fame can still relate to modern day matters. By investing your budget into their works, you are adding a piece of history to your collection.
At Maddox Gallery we offer an unparalleled selection of works in a vast range of prices to suit every budget. Whether you are looking to fill an entire home or start your collection, our team of experts can guide you in the right direction.