SO YOU WANT TO BUY ART?

Nadine Rubin Nathan on where to start when you are thinking about buying art, and why you should buy from dealer galleries.

We all have different comfort levels when it comes to walking into a pristine, white gallery space. Some saunter in, and confidently grab the artist statement and pricelist from the front desk. Others may feel self-conscious and worried about asking any questions that may betray their lack of knowledge.

But it’s important to ask questions: if you’re looking to invest in a piece of art, and it’s advisable to do research about the artists you’re drawn to. Of course, it’s also important to really like what you buy (and often that’s a gut feeling).

One of the upsides for timid would-be collectors is that the pandemic has meant that many galleries have adapted to online. It couldn’t be easier to look at art from the comfort of your own home now. But why is it still important to buy the piece from a dealer gallery?

While there are different paths to success, many artists, whether recently graduated from a MFA programme or in an established practice, seek the same goal: a gallery that will show their work and sell it to collectors, public galleries and museums.

“Artists want to know that their work has a home, one that will help them mount successful exhibitions, and maybe even subsidise the production of their work,” explains Anita Tótha, former Gallery Manager at Sanderson Contemporary in Auckland. “Galleries build a symbiotic relationship with each of their artists, not only supporting them financially from the sales and promotion of their artworks, but also by helping them to focus on their work and the evolution of their individual practices.”

These galleries usually take a 40-50 per cent commission to recoup their costs. The rest goes to the artist.

“When you buy from a dealer gallery, you’re getting the reassurance that the art you are buying is of a certain standard. The dealer is looking after that artist’s career, but most importantly it’s the fact that the artist gets paid from the sale,” says Stephanie Post, one of the co-directors of the Aotearoa Art Fair and TENT and a founder of the website ArtNow.

On the other hand, the secondary market (auction houses are the best example) relies solely on artists that have been validated and accepted by galleries and art institutions, but no money from the sale of a work at auction ever directly benefits the artist. Of course, selling a piece for an astronomical amount at auction garners interest in an artist’s practice, but it’s hard to track the true direct financial benefit for the artist.

So, is it possible to know if the painting or sculpture that you’ve fallen for will appreciate in value? “Sometimes,” says Tótha, who began her career in New York before moving to New Zealand. “Some collectors only buy works because of the artist’s name attached to it. They know that these artists do appreciate in value based on media, museum retrospectives, auction results, etc. Other collectors that are interested in mid-career or emerging artists take a more calculated risk and enjoy supporting these artists from the ground-up.”

When it’s possible to congregate once more, Art Fairs are another good way to get more comfortable with approaching dealers. “Gallerists are pretty much stuck at their stands for five days during a Fair and they’re very open to building relationships with people who might not ordinarily come into the gallery,” says Post, adding that 40 galleries are confirmed for the Aotearoa Art Fair which runs from March 2-6, 2022.

And if you’re reading this wondering how you’ll ever get into a position to be able to afford art, companies like MyArt.co.nz offer collectors interest-free loans to buy art from New Zealand and Australian galleries – a very helpful way to start collecting if it’s important to you.