By Karin Beuerlein

Get your fine art collection off to the right start with these tips.

Some people are simply born art lovers. "I actually purchased my first piece of art with babysitting money when I was 14 years old," says Paige West, founder and owner of Mixed Greens Gallery in New York City and the author of the forthcoming release The Art of Buying Art: An Insider's Guide to Collecting Contemporary Art. "I was an art addict from birth."

Others come late to the game. Perhaps you'd like to start collecting, but you don't have any idea what you're doing. Don't worry. Here's a guide to launch your new passion, a crash course in art-buying savvy. But be careful. "Once you get started," West warns, "it can be an addictive habit."

Tip 1: At first, leave your wallet at home.
In the beginning, you should invest time, not money. "Just spend time looking and deciding what you like," says Pierrette Van Cleve, founder and president of Art Cellar Exchange, an art dealership in San Diego, Calif. Visit lots of local galleries and art fairs and wander around to your heart's content. Figure out what you like, and what you don't, and don't make an impulse purchase.

Tip 2: Skip the dead masters and go with a living artist.
Focus on appreciating and collecting contemporary and emerging artists. Becoming a Picasso collector this late in the game (when the artist is dead and not making any more stuff) probably requires more money and specialized education than you have. Your two main markets for contemporary artwork are private dealers and galleries who specialize in work made by living artists.

Tip 3: Do your homework.
Keep tabs on the art world to inform your collecting decisions. Both West and Van Cleve recommend joining your local museum to hang out with fellow art lovers, learn the lingo, and soak up as much art-related activity as you can. Subscribing to magazines like Art in America, American Art, or NY Arts can also help you find your footing.

If you're interested in buying a particular piece, a little background work will reveal if it's worth the price tag. Don't be shy about asking for the artist's résumé to see if he has a reputable exhibition track record. Good galleries will expect your request and can explain an item's value. "If not, that's a clear indication that you probably shouldn't be collecting art from that gallery," West says.

As with any business, galleries and dealerships that have been in business the longest are usually the safest places to start collecting, particularly for big-ticket items, but don't be afraid to try newer galleries that deal solely with emerging (as opposed to established) artists because their prices will be much lower.

Page  1 | 2 | 3  next »