Contemporary art is one kind of art that everyone can afford. The reason is that there are a lot of living artists producing quality work that is very collectible. The buyer of contemporary art only needs to understand that while personal taste makes art collecting fun, it does not always equate with profit.
First of all the buyer must understand that the seller, in this case possibly a living artist, believes in their work. And most artists are serious in their beliefs although not necessarily the Rembrandt of the future. When it comes to profit, that is a call that the buyer must make, otherwise the collector has fun art but no profit.
For the buyer, collector getting to know an artist personally is a big asset for several reasons. The buyer can fully assess the artist’s potential for drive and dedication to his or her art. The collector has more opportunity to choose from the artist’s latest works. As a seller the artist is always happy to show work to potential buyers or repeat collectors.
Their are famous and important living artists if you have an interest, but be prepared to pay more for these artist’s works. you may occasionally see these artist’s works at auctions sponsored by charities or local art groups. The prices may be undervalued, which makes your bid at auction a good thing for both
your pocketbook and the artist’s image in the community.
Even relatively important works by somewhat notable if not famous artists can be undervalued. So you might head to some of the more established auctions for a possible break here or there. Of course following more than one artist or auction helps you to buy art that is a good value for your collection.
Contemporary art cannot immediately produce big profits, it takes time to build reputation and demand. But that’s one of the reasons that the price can be affordable now. Contemporary artists and collectors both know this, so as a seller, the artist can make reasonable negotiations, especially with a personal acquaintance who is also a collector.