Where can I find art? How do I buy it? What is an art piece’s worth? What artists should I have on my radar? DDW answers.
Da Vinci’s Mona Lisa is speculatively worth more than a billion dollars. That is a nine figure price point – the cost of a private island, or enough to buy you the British Monarchy’s Balmoral castle. Art, as you may already know, can be a lucrative business. If an unknown artist can price their medium-sized canvas at the low hundreds, it takes simple reasoning to grasp that owning more well-known art, or delving into the world of art trading, is diving straight into a business that moves hundreds of thousands of dollars, and which can now be accessed online.
Whilst we highly doubt you have a spare billion under your belt (we are under no impression that Zuckerberg, Amancio Ortega or any of the other billionaires of this world read DDW, even if they should!), you might have some money you are looking to invest. Or perhaps you just want something nice for your home. Whatever the reason, budget, or taste, DDW answers some of the most commonly asked questions on how to buy art online.
When it comes to buying art, there are several options to consider. The choice of where to buy art depends on personal preferences, budget, and the specific type of art one is looking to acquire
Online art marketplaces have gained tremendous popularity in recent years, offering a vast selection of artworks from artists worldwide. Platforms such as Peggy, Saatchi Art, Etsy, 1stdibs, and Artfinder provide access to a diverse range of styles, mediums, and price points. These platforms often offer secure transactions, detailed artist information, and buyer protection policies, which make them one of the safer options for first-time, or less experienced buyers.
Much riskier but also more prone to scoring an unheard of deal is the use of Instagram. With the platform serving as a personal marketing broadcaster for artists, using social media to negotiate deals and acquire art pieces is an increasingly popular method of directly engaging with artists and their representatives. The drawback, however, is that Instagram does not offer the same level of buyer protection that art marketplaces might.
Art consultants and advisors specialize in guiding buyers through the art acquisition process. They possess extensive knowledge of the art market, trends, and specific artists, and so hiring an art consultant can provide invaluable expertise. Helping you navigate the vast art landscape, these specialists can help you make informed decisions based on your preferences and budget, as well as assisting in negotiating prices, verifying authenticity, and managing logistics.
Contrary to popular belief, anyone, with any budget, can try their hand at art acquisition. Whilst a smaller budget might stretch to very small pieces or undiscovered artists, a more comfortable sum could buy small tapestries, paintings or a myriad of other physical creations.
A good budget to start off with is 1,000USD. With this amount of money, a buyer can aspire to purchase some interesting contemporary pieces without breaking the bank.