Masterclass: 10 tips for collecting art from one of Canada's leading art advisors

Maybe you've always had an eye for colour and composition, and as a child you were adept with crayon and paper. Or maybe one day you went into an art gallery and couldn't leave until you had bought that print that held your gaze—your first-ever art purchase. Regardless of when and how your love for art took hold, if you're buying paintings and sculptures today you may be on your way to becoming a serious art collector—an undertaking that takes time, money and emotion. Kelly Juhasz, an art appraiser and advisor at Toronto-based Fine Art Appraisal + Services who has worked with a diverse range of organizations—from the Art Gallery of Ontario to the Bank of Canada Museum—offers 10 tips for building your art collection. Know the purpose behind your purchases Some people buy art as an investment asset class while others make purchase decisions based mainly on their emotional connection to particular pieces. There are also buyers who just want to fill empty spaces on their walls and hallways. Whichever camp you fall into, understanding why you collect art will help you purchase with purpose, said Juhasz, who has advised on work by Canadian artists such as Emily Carr as well as European masters like Rembrandt and Renoir. And regardless of your purpose for the art, always apply the golden rule in collecting: buy what you love. Deepen your art knowledge Learn as much as you can about the art you’re interested in. Juhasz suggests starting by visiting galleries and museums and talking to owners and staff. If possible, connect with the artists you like and get to know the thinking and technique behind their work, and what projects are underway in their studio. While special exhibits tend to take centre stage in art venues, Juhasz says permanent collections are always worth a careful look. You’ll never know what and whom you’ll discover. Don’t be afraid to go big (and go home) A lot of cost-conscious or newbie art collectors like to start with smaller pieces and then, over time, graduate to larger canvases. Juhasz said buying one large piece may actually cost less than buying several small pieces, especially when you have to pay for framing. Large pieces also have greater visual impact and may not need to be framed. Be part of the art community Signing up as a member of one or two local galleries or museums is a good way to immerse yourself not just in art, but in the world of art. Depending on the tier you purchase, a membership can provide front-row access to exhibits, curator and artist talks as well social receptions. “People in art love to talk and share their knowledge, and they want to sell art too,” said Juhasz. “For collectors, being part of the art community is a great way to learn about art and the art market.” Read: Scribble and doodle—for serious clinicians Look beyond the usual places Earlier this month, a number of media outlets ran a story about a dermatologist who bought a painting from Value Village because he liked the frame, then discovered the painting could be that of a 19th-century Dutch painter and possibly worth tens of thousands. While the outcome of that story is still to be determined, such finds do happen, said Juhasz. So next time a painting in a thrift shop window catches your eye, stop and check it out. Learn to take care of your art Yes, advising doctors who spend their working days taking care of patients to take care of their art may seem impertinent. But it has to be said. “Once you purchase art there is care and maintenance,” said Juhasz. This means knowing the material used in the artwork so you can ensure it’s framed properly and positioned in an area where it won’t be damaged. Some artists, for example, mix their paint with wax, which could melt if placed in direct sunlight. If your collection includes sculptures, make sure they’re displayed in secure areas where they’re unlikely to fall over or get bumped into. Keep a paper trail Provenance is everything in art collecting. In addition to your receipts of purchase, hang on to exhibit materials such as books, cards and brochures. If there are any photos of you with the artist, or any correspondence between you and the artist, keep these on file as well. These establish provenance and also ownership. The latter may come in handy should you go through a relationship breakdown in the future. Appraise and re-appraise Whether you’re insuring your collection under your homeowners policy or a specialty insurance, it’s important to know the current value of your art pieces. Juhasz suggests re-appraisal every three to five years to take into account new additions to your collection as well as changes in the art market that may affect the value of your pieces. “For some artists the markets change drastically so you want to make sure your coverage is adequate and that you’re not overpaying or underpaying,” she said. Don’t be afraid to divest and re-invest As your collection matures, you may find that some pieces no longer fit your mandate. Or perhaps you’ve come upon an artwork that you really want to acquire but need to free up some capital to support this new acquisition. When this time comes, you may want to consider selling one or two pieces that no longer make sense for you to make room for new pieces. Seek expert advice Once you start getting into higher-value art work, it’s a good idea to get help from an art appraiser or advisor. Look for professionals accredited by a reputable organization such as the International Society of Appraisers, and ask for references from individual clients as well as organizations they’ve worked with such as museums or insurers. In addition to helping you appraise the value of a potential purchase or sale, an art appraiser or advisor can also introduce you to artists, art dealers, auction houses, framers and shippers—people and groups who can guide and support you through your ongoing journey as an art collector. Read: Art to boost healthcare workers' morale

Masterclass: 10 tips for collecting art from one of Canada's leading art advisors

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