Sunday, 26 May 2019

Billionaire’s Secrets on How to Make a Bundle in Art

Many collectors go to an art fair with the hopes of purchasing a 'masterpiece'. As such, it comes as no surprise that many would be willing to pay an arm and a leg for a 'one of kind' piece. However, what I find particularly interesting (in article in link below) was Mr Sigg's comment about having a mere one hour to decide whether or not to spend one million dollars at an art fair these days! If what he says is indeed true, then it's safe to say that when art collectors attend an art fair, they have to:

1. know exactly what they want.
2. be prepared to spend a ton of money if they manage to find what they want.

'Once a work catches your eye, read up as much as you can about the artist and scour the Internet for past sales results on auction house websites and third party providers such as Artnet and Artprice. Check the C.V. too. The chances of appreciation in value are much better when an artist’s works have been featured in reputable galleries or acquired by major museums.'
- Uli Sigg, collector of more than 2500 pieces of Chinese contemporary art, including the likes of Ai Weiwei, Zhang Xiaogang and Zeng Fengzhi

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