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What should a new collector consider when acquiring artwork?

by | Jan 22, 2023 | 0 comments

Art offers an answer for unspoken questions at times, answers we maybe didn’t know we needed. If you have always been a person with greater interest in the visual realm rather than the other four senses, then falling in love with particular images might not come as a surprise.

There are some instances though, where artwork appears in someone’s life unexpectedly and we often wonder “How to See”, as the painter David Salle answers throughout his book with the latter title published in 2019.

When we want to start living surrounded by artwork, it can be a little intimidating to start planning to start an art collection. The positive aspect here is that you are not alone. In fact, even the term collector often pops images in our mind of older wealthy folks, and it is a modern relief that today there is a new generation of younger collectors on the rise. Nevertheless, we still wonder what the perfect first artwork is and the meaning behind an intrinsic curiosity towards specific sculptures or specific painting movements.

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A Guide for New Collectors

In hopes of providing you with a guide for new collectors, we have put together a few things to consider before starting to acquire artwork.

  1. A fun way to start is to look at as many in-person art pieces as you can. Experience them and notice your initial reactions to each piece. What parts do you like? What are the elements that you enjoy the least? Do you like abstract or realistic art? Develop a flexible idea of your personal taste, trust your instinct.
  2. Think of a budget that works for you, and please note, it is ok to start slow. Start with more affordable pieces and consider prints; you will notice that when looking at an art piece continuously, the experience changes with time. You can develop a relationship with certain artworks and their meaning for you may shift as the days pass by. Take note of these ideas in your everyday life and acquire new perspectives by acquiring new artwork slowly.
  3. When considering an artwork, it is important to imagine where you would hang the piece and why. Where do you first imagine the piece? Perhaps in your office space, or maybe in your living room, perhaps there is a corner with perfect lightning in your home. If you love a painting but it doesn’t go where you want it, consider alternative spacesMove your furniture around and you may find that your artwork fits your home better than expected.
  4. Consider the benefits of acquiring artwork in Toronto. Did you know that the Canadian government, under the federal income Tax Act, allows companies to deduct the cost of original artworks such as paintings, drawings, prints, sculptures as part of their capital cost allowance (CCA)? The artists should be Canadian citizens at the time of creating the artwork, and the works should have been created less than a 100 years ago, as well as cost more than $200.00 CAD. Most of the artworks listed on our website curated by the Riverdale Gallery qualify.

Don’t Be Afraid to Ask

Most importantly, don’t be afraid to ask! Did you know that many galleries allow collectors to pay in installments? If you find a larger painting you love, ask your gallery if you can design a personalized payment plan for youYou may receive a yes for an answer and an artwork for your home.

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Riverdale Gallery

The Riverdale Hub’s vision animates a working model of innovative social entrepreneurship, environmental sustainability and community revitalization through the arts. We strive to create a transformative space informed by values of innovation, sustainability and equality to become a catalyst for progressive social change and action. We aspire to bring together artists, environmentalists, and other progressive groups and individuals to create synergies, share and develop ideas for community revitalisation.

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