Who buys art and why?
Many of you will have heard of the Own Art scheme, which encourages the purchase contemporary (original) works of art, or contemporary limited edition prints. Own Art offers loans of between £100 and £2000 to buy art and spread the cost.
Axis Art have just produced a series of engaging videos of purchasers of art, to find out what floats their boats and why. The reasons for people buying work vary hugely: they are as diverse as people are. The things people say do make you stop and think…. why am I creating art? Who is it for? If you do have an audience in mind (and you should I believe) then listening to what Ian Murray has to say about buying art might help. He spells it out: its’s got to be 1)original 2)have impact and 3) be skilled in conveying the message i.e. have craft. The main tips that come up from this series of videos is to follow your instincts and get to know your favourite galleries and talk to them regularly.
Those in Wales should look for the Colectorplan logo in galleries. The Welsh Arts Council have been running their scheme for several decades now.
I think there are basically two kinds of collectors. Firstly, there are the ones with an eye on the market who see buying an artwork as an investment. There is always the hope that they can sell it in the future for a profit. Secondly, there are those who buy a piece purely because it speaks to them, regardless of the status of the artist, and who will cherish it forever.