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Be Ready to Act Fast or Miss Out
“There are exactly three pieces I regret not investing in at the time. How do I know that? I still think about them.”
Art is often unique and one-of-a-kind (unless you’re buying from a photography or limited print series). If your heart leaps at the sight of a piece, don’t hesitate too long, or you could miss out. “The film Herb & Dorothy is a great example of how you can buy what you love and still live on a budget,”says Pawlak. We’re adding this one to our list of films to watch.
Attend Art Events Featuring Emerging Artists
“Find out what’s happening in your city in the arts, and then show up!” This is a great way to expose yourself to emerging artists. Why buy from up-and-coming artists? “You wouldn’t buy real estate when the market is sky high, would you?” says Pawlak.
Buying from young artists who are only starting to make a name for themselves is like stumbling upon a great real estate deal. Decades ago, my stepdad spent $500 on a print from a young unknown artist named Andy Warhol—true story.
“This is a whole other game. I highly recommend getting advice from savvy friends and attending auctions.”
Books such as Seven Days in the Art World and The 12 Million Dollar Stuffed Shark are great ways to immerse yourself in the historic and ever-adapting gallery and auction systems.