How to Start an Art Collection Without Having to Spend a Fortune, According to an Industry Expert

Having a bottomless expense account is no longer a prerequisite for collecting art. The market has shifted to capture budding buyers (hello, millennials and gen Z-ers!) by offering quality pieces at affordable prices. And while the process of finding something you love is entirely subjective, there are still a few details to keep in mind before you take the plunge. Whether you’re sourcing art from Etsy, the flea market, or raiding your parents’ attic, having an understanding of how the art world operates can go a long way. 

To learn more about it, we caught up with Lindsey Bourret, the managing director of Mearto, an online art and antique valuation service that offers low-cost online appraisals. Ahead, she shares her tried-and-true trade secrets for acquiring art. 

If you’re a novice to the art world, identifying an objectively “good” piece, which could potentially appreciate in value over time, can be a challenge. Bourret suggests familiarizing yourself with art history, frequenting museums, or even taking a class to learn more about the works and style of art you’re interested in. You’ll have a better chance of finding something quality if you’re better versed in the basics. “Once you set that foundation, you’ll be able to recognize when something is ‘good’ or if your Goodwill find is just an amateur watercolor.”

When it comes to choosing artwork that can complement your aesthetic, it’s all about trusting your gut. That—and resisting the pressure to stick with a singular theme, period, or painting style. Our taste in interiors is constantly evolving, so avoid pigeon-holing yourself to strictly modern or classical pieces. 

“If you want to get a jewel-toned abstract painting and prop it in the middle of a modern farmhouse bedroom, go all in,” Bourret says. “If you have a minimalist living room and want a Dutch Old Masters-style still life with fruits and flowers, that could totally work, too. There are no wrong answers!” 

There are two different markets for purchasing art: Primary and secondary. The former is reserved for contemporary pieces (usually new and rarely pre-owned) sold by either the artist, a dealer, or a gallery. A secondary market refers to pieces that were previously owned, antiques, or collectibles (such as a Picasso or a Matisse). 

“The general advice in the industry is to purchase secondary market works from auction houses, as galleries tend to significantly mark up prices,” says Bourret. Similarly, popular art fairs, like The European Fine Art Fair (TEFAF) New York or Miami’s Art Basel, will also charge you a premium. 

International auction houses like Christie’s and Sotheby‘s are actively trying to reach out to the next generation of collectors by throwing unique events and showcasing never-before-seen pieces focused around current trends and lower-priced categories. Bothams, Dorotheum, and Phillips are also great and reliable options to consider. 

If you’re working with a limited budget, Bourret suggests turning to a regional auction house, where locally-sourced items are generally offered at lower bids, compared to an international auction house. And for those who prefer to take a digital approach, try Invaluable. This platform aggregates auctions from all over the world onto one site, where users can bid on items in a specific price range but aren’t restricted to a given geographical location.

Frequenting flea markets and garage sales or seeking out emerging artists in your area are great alternatives if you prefer to take the grassroots route. You never know what you will discover!

Bourret suggests beginning a collection with “works on paper” such as print drawings. Most of the time, they will be less expensive than paintings but can be just as prestigious. Similarly, don’t stress about name recognition or the lack thereof—it’s hardly a reflection of the quality of the work. 

Predicting what a volatile market, such as the art scene, will do next is difficult, which is why it’s important to buy something that speaks to you. “Someone can be well-educated and have great taste, find an incredible artist, only to see their work never really take off,” says Bourret. Rarely do artists achieve commercial success. Much of it has to do with luck—getting noticed by the right gallery or simply just being at the right place at the right time. 

If you’re committed to acquiring art to sell it, it’s important to be in tune with trends and stay on top of the market. Bourret suggests monthly subscriptions to online databases, such as ArtPrice and ArtNet, that allow you to see what’s trending, price fluctuations, and the cost that works of specific artists have sold at in years past. 

It’s not just the Monets and the Van Goghs that are being fabricated. There has been an uptick in forgeries of mid-level works because they’re easier to get away with. Factories will churn out thousands of paper prints, which will often go undetected because of their lower price points. 

According to Bourret, if a seller is pushing a certificate of authenticity or certificate of provenance, you might want to question it. Very few individuals and entities have the legal right to say that something is unequivocally authentic. Reputable auction houses will typically be safe but if you’re working with a direct seller, a little due diligence never hurts. Brands like Mearto can also perform in-depth research to provide a professional opinion on authenticity before you buy. 

Armed with the right tools, you’ll be on your way to the art collection of your dreams.