Just as Frieze and Zoo are set to open, the ever-elusive question remains: What makes a good collector? How can you structure a collection? Who gets offered the best work? What should you be looking for and once you have bought it? How best to install and preserve it? All these and many other questions are answered for the first time in Owning Art: The Contemporary Art Collector's Handbook written by two art-world insiders, Louisa Buck and Judith Greer.
Over the last fifteen years the contemporary art market has expanded at an unprecedented rate. This growth is dramatically evident in the UK, which now generates an estimated £500 million worth of sales per annum. But even as it becomes more popular, the process of collecting continues to be shrouded in mystery.
Divided into several sections, Owning Art offers practical advice on areas such as insurance, framing, institutional loans and conservation. Information is revealed through a number of extensive interviews with leading art collectors, curators, museum directors, market players and the artists themselves. The handbook also provides a fascinating historical context for today's collectors and offers an initial toolkit for aspiring art buyers. The art itself is examined with advice on how to buy. Dealers and auction houses are scrutinized as well as art fairs, and useful information is offered on other purchasing sources such as degree shows and the internet.
Subsequent chapters review how artists see the market and how collectors should treat them. Once the artwork is in your possession, how to maintain the work is another area that the book covers, along with insurance and tax implications. Public art institutions and the role they play in the art market is a subject that the book explores in the final chapter.
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