With Art Basel and all its satellite fairs coming up I like to share some important advice.
It can be tricky for a new or untrained collector to buy art at art fairs, especially such big ones like Art Basel with more than 200 galleries represented.
Art fairs are not democratic, most is sold early to preferred collectors or advisors. Galleries don’t take time for you as they are under pressure to negotiate deals. Also the presentation of work on stand represents only a very little portion of the galleries stock.
So follow my advice to avoid the "fair spell" and any impulse buying.
1. Be prepared
What is it you are looking for? Something for a specific place? Something to add up to your existing collection? How much are you prepared to spend?
Do your homework: next to defining your wishes research which galleries would you like to visit.
With that sheer mass of artworks at an art fair your focus is easily distracted and time goes by quickly.
For a good overview and a first glance at the most important galleries and represented works I recommend a guided tour.
2. Talk, talk, talk
For me personally getting to know people personally is the biggest advantage of an art fair.
Talking to gallerists, collectors, advisors and all kind of other art professionals is a great way of learning about the current art scene. From the most known, to the newcomers, galleries at Art Basel and its satellites are many.
Such a prominent fair is a good place to get the idea about the global art market and its leaders, about what's hot and what's not.
3. Be confident
The art scene can appear quite snobby and hard to approach but don't feel intimidated.
Questions about the gallery program, a specific artwork, its maintenance, price or history should be asked freely and without any bad feelings.
An initial talk with a gallerist at an art fair is always a good first step into building a relationship for the future.
4. Negotiate
Negotiation is normal and common between art professionals.
The initial asking prices at fairs are often very high and allow some flexibility.
Don't be cheecky though, setting the right tone will lead to a successful deal.
5. Enjoy the show!
There is no need to feel pressured, to be running around and getting exhausted.
If you don't buy anything at the fair you have had the valuable experience of learning and laid the foundation that allows you to buy a great piece in the future.
Relax and take pleasure in participating in all those events on offer, talking to interesting people and getting a live look at the most amazing artworks!
If you are looking to buy art but the whole buying process of art is still a little too daunting to you ask me for help and contact me today. I will be happy to hear from you!
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