#1 Why Collect Art and Why Do I Need an Advisor?

Welcome to the Casey Monda Art Advisory family! Whether you are a Substack subscriber, an active client, or a happy client from the past, I am so thrilled you are here and am honored to serve as your fearless leader on this exciting and potentially transformative journey of building an art collection. I work with all types of clients – from bare-walled novices to those who need an extra storage unit to house their treasures. For me to guide you effectively on your collecting journey, we need to work together to accomplish several fundamental tasks, and I hope this Collecting 101 series will help us do just that.

Firstly, I want to make you aware of all the possibilities so that we can accurately identify your primary reason(s) for collecting art. Once we have identified your goals, we will make decisions about what type of art and artists to consider and begin to develop your style and taste. Ultimately, we want to hone in on the appropriate venues to collect art from and how big or small your acquisition budget should be.

Thanks for being a part of the CMAA family. I am so glad you are here!

#1: Why Collect Art and Why Do I Need An Advisor?

This lesson illuminates the most common motivations behind collecting art. But above all else, first and foremost, buy what you love. I can not over-emphasize this point. If it does not resonate with you, move you, or otherwise make you think, arouse your curiosity, or make you feel something, you probably should not own it. The art you collect reflects your taste, experiences, and values, collectively forming an identity as unique as your fingerprints. With that said, there may be other reasons motivating a purchase, such as investment potential or asset allocation, cultural enrichment, personal enjoyment in decorating, and supporting the arts community. Any or all of these may apply to you and you will learn more about each of these topics below.

Now, you may wonder why you need me if collecting art is so personal. Advisors play a critical role in the art ecosystem as the sherpas (of sorts), helping clients navigate the vast and often opaque art world. We are both the guides to the summit and, when it comes to all the ancillary concerns of purchasing art, such as pricing, shipping, framing, conservation, and market analysis, the heavy lifters. I have the knowledge required to take you to the peak, but you have to trust my eye, which has been developed and strengthened over two decades spent studying art history, working in the industry, and looking at a lot of art. You hired me because you trust that I know what I am looking at and will only show you the best quality your dollar can buy. But you also trust that I understand the market and will do my best to steer you towards work that will have lasting value, financially or artistically.

Collecting art is a journey of self-discovery, and I am honored to guide you as you discover what makes you think, what inspires you, and what resonates with you as you build and expand your collection.

Some Reasons You Might Collect Art

Investment Potential

Artwork is considered a reliable long-term asset class, meaning that it holds value over time. While there is no guaranteed return, collecting art can be a strategic way to diversify your investment portfolio, minimizing risk and maximizing returns. Collecting artwork for investment purposes requires knowledge, engagement, and a long-term approach, and strategies vary based on the type of artists and artwork you are collecting.

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Cultural Enrichment

Art reflects the evolution of societies, cultures, and the human experience. By learning about art history, visiting artists’ studios, and attending gallery and museum exhibitions, you can gain insight into history, cultures, and traditions. Building an intentional art collection will help you to develop new perspectives and discover a new means of self-expression.

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Personal Enjoyment & Decorating

Decorating a home or office with art fosters creativity. By exploring and understanding your own personal preferences, taking into account practical aspects such as size, color, and texture, and carefully selecting artwork in a variety of media you will turn a place with four walls into a vibrant space that communicates a distinct personality.

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Supporting the Arts Community

Art collecting contributes to the vibrant ecosystem that is the art world, promoting diverse perspectives and innovation. By purchasing art from emerging artists, to attending gallery exhibitions in your area, to becoming a member at your local arts museum you are supporting the growth, development, and longevity of your local arts and culture organizations. This, in turn, builds stronger and more vibrant communities.

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I would love to hear your immediate thoughts on the different reasons for collecting art.