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by BARBARA GUGGENHEIM<\/strong><\/p>\n You’ve got a sofa with a big, blank wall behind it. Or you’ve\u00a0moved to a new house or apartment with lots of empty wall\u00a0space. Either way, you need a painting.<\/p>\n Buying your first piece of art can be a downright daunting\u00a0task. The stark white art galleries are intimidating, and there are\u00a0so many of them that it’s hard to know where to begin. Worse,\u00a0it’s hard to make a judgment call and tell good from bad art.\u00a0And, finally, there’s the question of how much to pay. Below are\u00a0some steps you can take to ensure a prudent purchase:<\/p>\n 1. LOOK AT ART MAGAZINES AND AUCTION CATALOGS.<\/strong><\/p>\n Going to\u00a0galleries and auctions is also helpful. Art fairs, where hundreds\u00a0of dealers bring works, are like taking a crash course, as\u00a0they offer a quick way of seeing thousands of works of art at\u00a0one time. Following the fairs is like making a pilgrimage to a\u00a0holy site. You’ll be exposed to a wide range of styles and areas\u00a0from which you can choose, and you’ll get a feel for prices.<\/p>\n 2. TAKE YOUR TIME.<\/strong><\/p>\n Acclimating to the new trends and learning how\u00a0the art market works takes time.<\/p>\n 3. ASK QUESTIONS.<\/strong><\/p>\n When you see something you like in a gallery,\u00a0don’t be afraid to ask about it. Even if you have to ask the name of\u00a0the artist, don’t be shy. How will you ever learn if you don’t start\u00a0by asking questions? In addition to issues such as how a piece of\u00a0art is made or what an artist is doing, ask what museums or private\u00a0collections own or have shown the work.<\/p>\n 4. GET THE RIGHT ADVICE.<\/strong><\/p>\n You wouldn’t drill an oil well without consulting\u00a0geologists, would you? Nor would you buy a business\u00a0without getting a lawyer’s advice. Buying a painting should be no\u00a0different. Don’t think that you can make wise decisions without\u00a0the benefit of expertise. Local museum curators and art advisors\u00a0can be a great help.<\/p>\n 5. BUY WITH YOUR EYES, NOT YOUR EARS.<\/strong><\/p>\n Don’t buy something just\u00a0because someone has told you it’s a good investment. You should\u00a0be able to find a piece you love that has the possibility of increasing\u00a0in value too.<\/p>\n 6. DON’T FEEL YOU HAVE TO PLUNGE IN AND BUY SOMETHING EXPENSIVE.<\/strong><\/p>\n Get your feet wet by buying less expensive works, such as drawings\u00a0or photos. Later, you’ll learn that buying good art isn’t\u00a0spending money. It’s merely converting it from one investment\u00a0instrument to another. Still, you have to be careful: too often newcomers\u00a0make the mistake of buying “names” without considering\u00a0the quality of the work.<\/p>\n 7. EXERCISE DUE DILIGENCE.<\/strong><\/p>\n Check prices on Artnet, a service that\u00a0lists prior auction records for the artist. Call other galleries and see\u00a0what other works by the artist are or have been on the market\u00a0recently. Have the condition checked by an independent restorer\u00a0and make certain, if it is an old painting, that IFAR (The International\u00a0Foundation for Art Research) shows no record of its being\u00a0stolen at IFAR. And make sure the reigning expert on the artist\u00a0has acknowledged the authenticity of the work.<\/p>\n 8. MAKE AN OFFER ACCORDINGLY.<\/strong><\/p>\n Factor in prior auction records and\u00a0other recent sales, rarity, and other complexities.<\/p>\n 9. GO FOR THE BURN.<\/strong><\/p>\n Traditionally, the paintings that go up the most\u00a0in value are those that are among the artist’s best, so stretch and\u00a0get only the “A” works by an artist-even if it hurts!<\/p>\n 10. INSURE YOUR INVESTMENT.<\/strong><\/p>\n Once you’ve paid for the piece, have it\u00a0insured. Install the work (securely) and enjoy it! If you lend it to\u00a0an exhibition, make sure there’s adequate security. I sleep better\u00a0when I know that a painting is under shatterproof UV-filtered\u00a0glass with a strong backing.<\/p>\n","protected":false},"excerpt":{"rendered":" by BARBARA GUGGENHEIM You’ve got a sofa with a big, blank wall behind it. Or you’ve\u00a0moved to a new house or apartment with lots of empty wall\u00a0space. Either way, you need a painting. Buying your first piece of art can … Continue reading