A Guide to Intelligent Art Collecting at RMB Latitudes Art Fair 2024.
by Staff writer
We are here in Johannesburg for the RMB Lattitude Art Fair, where 50 galleries are showcasing a diverse range of artworks by contemporary African artists.
With such a wide array of artistic expressions and works to explore, emerging art collectors might find it challenging to make decisions. To help navigate this vibrant art fair, we spoke with artHARARE's Richard Mudariki for some insights on how to buy art and build a remarkable collection. According to Mudariki, you don't need a degree in art history or years of experience in the art world to collect art intelligently. All it takes is a genuine appreciation for fine art, a desire to collect, and a willingness to learn a few basic techniques that will empower you to evaluate any artwork, regardless of its origin or time period.
When contemplating the purchase of a work of art, whether it's a painting, sculpture, or any other medium, start by asking yourself four fundamental questions:
Who is the artist?
How significant is the artwork(s)?
What is the art's provenance, history, and documentation?
Is the selling price fair?
By delving into each of these questions, you'll gain valuable insights into the artwork and make informed decisions about your potential purchase.
1. Who is the artist?
The artist is the heart and soul behind the artwork, shaping its identity and meaning. Begin your investigation by gathering information from both spoken and written sources. Consult galleries, dealers, artist websites, and online databases to learn about the artist's background, accomplishments, and exhibition history.
Look for facts such as exhibition held, awards, and notable collections that own the artist's work. Remember, the more extensive the artist's profile and the more reputable the sources of information, the better. Look for artists with a solid track record of exhibitions, awards, and recognition within the art community. Trustworthy documentation and credible references will help you assess the artist's significance and the value of their work.
2. How significant is the artwork(s)?
Evaluate the artwork's significance by examining its style, subject matter, and artistic merit. Familiarize yourself with the artist's body of work to understand the range and depth of their artistic expression. Look for major works that showcase the artist's skill, creativity, and originality.
Consider whether the artwork is typical or atypical of the artist's oeuvre. Major works tend to be more complex, detailed, and labor-intensive, reflecting the artist's highest level of achievement. Pay attention to the art's uniqueness and originality, as well as its condition and longevity. Art that demonstrates superior creative abilities, vision, and mastery of medium tends to be more collectible over time.
3. What is the art's provenance, history, and documentation?
While many artworks showcased at the RMB Latitudes Art Fair by many galleries are current, provenance and documentation on much older works provide essential context for understanding the artwork's journey from creation to the present day. Strauss and Co Auction House is presenting a selection of artworks by Irma Stern and and Gerald Sekoto. if you are in the market for blue chip artworks at auctions, investigate the art's history, ownership, and exhibition record to verify its authenticity and establish its credibility. Seek out tangible evidence such as exhibition catalogues, certificates of authenticity, and signed statements from the artist or seller.
Be discerning in separating truth from hearsay, and rely on concrete facts to validate the art's provenance. Look for evidence of past exhibitions, awards, and publications that mention the artwork, as well as testimonials from reputable collectors and institutions. A comprehensive understanding of the art's background and documentation enhances its collectibility and value.
4. Is the asking price fair?
Assessing the asking price involves comparing the artwork to similar pieces by the same artist and evaluating its market value. Research recent sales records, both at auction and through galleries, to gauge the artwork's pricing in the current market. Look for consistency in selling prices and demand for the artist's work.
Consider factors such as the artwork's size, condition, and significance when determining its fair market value. Beware of overinflated prices and negotiate with the seller if necessary, but be prepared to justify your offer with sound reasoning. A transparent transaction, backed by a detailed receipt and money-back guarantee, ensures a fair deal for both buyer and seller.
Collecting art intelligently is a rewarding journey of discovery and appreciation. By asking the right questions and conducting thorough research, you can confidently navigate the art market and build a meaningful collection. Trust your instincts, follow your passions, and embrace the adventure of collecting art. Remember, there's no right or wrong art—only the art that speaks to you and enriches your life.
RMB Latitudes runs from 24 - 26 May 2024 at Shepstone Gardens, Johannesburg.
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